Accounts Receivable | Cheque Scanning & Remittance Processing

By: SoftCo Group  05/12/2011
Keywords: Accounts Receivable

If you can’t keep track of payments, you risk losing money and creating more work. Easier said than done in Finance Departments that rely on paper processes, where manual inputs lead to more mistakes, and where the accurate cross-referencing of PO numbers with invoices depends on having access to the right documents at the right time. Without a structured system, things are made worse with part-payments and complicated remittance slips. Before you know it, customer transactions are a tangled mess that take months to unpick.

The SoftCo solution takes cheques and remittance slips into a fully automated system, saving time and money. Amounts paid and outstanding sums are captured and matched with customer’s account details. Businesses benefit because cheques and remittance slips are no longer disconnected, showing precisely what has been paid and what is outstanding. All the information is transferred seamlessly to financial systems with little or no manual interference and full visibility. Customers are happy because queries are clarified quickly.

Key Benefits:

  • Removes errors and cuts costs
  • Matches payments precisely with customer accounts
  • End-to-end visibility speeds up query resolution
  • Seamless integration with financial systems
  • More control means better governance

Keywords: Accounts Receivable

Other products and services from SoftCo Group


Purchase-to-Pay | Expense Manager | SoftCo Expense Manager Solutions

By automating and streamlining the entire process with SoftCo Expense Manager, organisations can increase control and visibility of claims and automatically enforce companywide expense policies and procedures. Expense paperwork is attached and claims are approved or rejected in an automated process that brings new levels of transparency to a business procedure that is difficult to control.


E-Procurement | Purchase-to-pay | SoftCo

Requisitions can be restricted to listed stock items or from pre-defined supplier catalogues with SoftCo E-Procurement providing powerful supplier management functionality to ensure that negotiated discount terms are applied to all purchases.


Accounts Receivable | Proof of Delivery

Debtor days stretch out and invoices mount up as poor processes cause delays and waste time. Filing cabinets are full, taking up too much space with documents that are too hard to find. Cashflow is crucial yet payments are painfully slow for most Finance Departments. Caught between managing customer relationships and ensuring prompt payment. Paperwork is missing; customer queries drag on for weeks.


Accounts Receivable | Customer Self Service

SoftCo Customer Self-Service provides an anywhere, anytime access portal that combines client information from a number of different sources and makes it available in a secure, simple format. Organisations have to look for new ways to enhance the customer service experience while meeting budget constraints. In today’s competitive environment, excellent customer service is critical to all business success.


Healthcare | Claims Management | SoftCo FormsAccess Solution

The only copies of the claim usually reside with the insurer which makes query resolution almost impossible without re-collating all the paperwork. Stored securely, patient claim files can be easily searched and retrieved by the hospital, consultant and insurer. Missing paperwork adds weeks to turnaround times with hospitals and consultants re-submitting documents.