Bose's Secret to Low-Cost Payment Processing with 75%+ Hit-Rate
Key Takeaways Include
Leveraging Artificial Intelligence to auto-match remittance with non-invoice references
Automated processing of decoupled remittances for faster cash application
Improving hit rates for ACH and Wire payments while eliminating the need for any manual effort
Saving 80% of analysts’ time required for large accounts with hundreds of invoices
Alisha Quitt, Global Process Manager – Order-to-Cash Bose Corporation
About The Webinar
Every treasury professional knows that ACH payments could be accepted and processed at ½ or even ¼ the cost of checks. However, is everyone able to realize those benefits? No!
It was no different at Bose, the global leader in sound systems and other audio equipment. The cash application team lost time in clerical tasks including 1) aggregating remittance information scattered across customer portals, EDI and emails 2) matching payments to open A/R and 3) coding deductions from short payments.
In the upcoming webinar, join Alisha Quitt, Global Process Manager – Order-to-Cash at Bose as she explains how Bose was able to achieve 75%+ hit rate for ACH payments while saving 12 hours/week of their analysts’ time by using an artificial intelligence-driven cash application technology.