Cashbook could automatically identify Alamo’s customers from the bank data/image, and match them directly with their specific invoices. Cashbook automated the Lockbox process for Alamo, which resulted in them being able to import check receipts, identify customers and to open invoices by using image views.
Added functionality allowed users to create templates over remittance images and link these to actual customers. Once a template was created, Cashbook stored this information and used it the next time that customer paid. The initial identification of these customers,using relationships maintained in Cashbook, assisted further automation of the Lockbox imports.
- Images are categorized as checks, remittances, envelopes or other.
- Focus on remittances to extract invoice data as defined in the template(s).
- Data preview allows corrections and saving as imported details.
- You can run algorithms (matching rules) to allocate to one or many customers.
- Customer identification can be supplemented manually using a variety of customer lookup entry points.
JDE Access Solution
- A SQL Server was installed.
- This allowed Cashbook to update the JDE system through the SQL server remotely.
Complete Automation of Accounts Receivable process
- Cashbook worked with Alamo to examine the remittances from their top 50 customers.
- Templates and matching rules were then built.
- After thorough testing, these were then copied from Development to the Live environment.
- Now more than 500 templates and 7,000 customer relationships have been put in place.
- The OCR process now applies these automatically, removing hundreds of hours of manual processing each year.
4 hot folders to achieve the ultimate AR cash allocation:
- Import: Lockbox with customer identification to create Journal and lines.
- Extract: auto identify templates or create new ones with data extraction to find invoices.
- Match: auto match imported details with customers’ open invoices.
- Post: Remote submission of JDE jobs through a SQL server.
Cashbook’s Lockbox OCR functionality:
- An automation process with very quick returns.
- Initially, new journal line items require manual handling to identify new customers or to create new templates.
- Within a few weeks, users swiftly build up a highly customized repository of templates and matching rules to auto identify and auto apply receipts.