AR Automation
J&B provides an integrated AR solution that improves cash flow and lowers DSO by automating the order, remittance and cash application processes in the order-to-cash cycle, thus reducing labor and management costs. An optimized AR solution reduces manual processing, increases transparency, and automates workflow so staff can focus on error and exception handling.
J&B AR Automation solutions are used throughout the order-to-cash cycle to capture credit, order, bill, ship information and manage remittance processes. Instead of manually coping with variable inputs such as lockbox files, EDI, mass payment advices, faxes, forms, and web site orders and payments, J&B offers a unified channel that automatically posts cash to multiple AR systems while routing discrepancies to the appropriate personnel for rapid resolution. This allows for clear visibility into cash flow while speeding exception resolution.
Key Benefits
- Improves cash flow
- Reduces labor and management costs
- Increases transparency
- Automates workflow
How does it work?
Payments and remittance advices arriving from a number of different and complex paper and electronic input channels are consolidated into a single portal, providing one complete view regardless of the source of the remittance advice. Captured data is then verified against existing ERP payment data with an advanced cash application rules engine that decreases manual processing and help avoid errors such as misapplied payments. The solution not only automates the cash application but also provides visibility into the entire process allowing management to make informed decisions about how to allocate resources.
After data has been verified or exceptions have been resolved, the system transfers the applied cash and associated transaction for posting by single or multiple ERP or backend systems. Many organizations have departments that operate in silos making it difficult to deliver a complete set of documents related to a specific transaction and to integrate processes. J&B's solution unifies workflow, freeing staff from manual tasks and allowing them to concentrate on exception, deduction and dispute management to accelerate resolution.
The J&B Solution also provides the ability to electronically deliver diverse sources of information to your desktop while automated workflow routines dramatically improve AR performance by reducing misapplied payments, backlog, storage costs, labor intensive manual processing, duplication of effort, and deficient process controls. Moreover, the solution is flexible; helping any organization's remittance environment to increase the amount of cash posted that day.