AR Automation

Versapay AR Automation is an AI-powered solution designed to streamline the entire invoice-to-cash process. It automates payment matching, cash application, and reconciliation, helping businesses reduce manual work, accelerate cash flow, and improve customer collaboration. The platform integrates seamlessly with ERP systems and banking services, offering real-time visibility and control over accounts receivable operations.

Features

• AI and machine learning for payment matching
• Optical Character Recognition (OCR) for remittance data extraction
• Real-time dashboards and audit trails
• Integrated exception handling workflows
• Cloud-based customer collaboration portal
• Support for multiple payment formats (ACH, wire, check, card)
• Automated posting to ERP systems
• Customizable matching logic and workflows

Capabilities

• Match payments to invoices with 90%+ straight-through processing
• Extract and normalize remittance data from emails, PDFs, EDI files, and portals
• Resolve unmatched payments with routing and approval tools
• Handle complex payment scenarios like short-pays and deductions
• Collaborate with customers to clarify and apply payments
• Monitor performance with end-of-day reporting
• Integrate with existing banking infrastructure including lockboxes

Benefits

• Reduce AR processing costs by up to 50%
• Eliminate manual data entry and reconciliation delays
• Improve cash flow forecasting and budgeting accuracy
• Enhance customer experience through real-time collaboration
• Achieve ROI within 60 to 90 days of implementation
• Operate with greater financial control and transparency