Deploying Emerging Technology to Improve Remittance-Details Processing
Report Summary
Deploying Emerging Technology to Improve Remittance-Details Processing
Middle-Market Companies Experiencing Remittance Processing Pain Need To Automate, Integrate, And Go Straight-Through.
Boston, July 10, 2013 - Receivables has a mighty impact on working capital management, and treasury increasingly prioritizes straight-through processing as the optimizer of receivables processes and the resolver of payments discrepancies. To run straight-through processing and working capital management smoothly down the rails, companies or their providers should selectively apply recognition technology to forms processing, check processing, and fraud prevention for checks. Such technology will automatically capture images, parse and route data, and recognize documents, streamlining cash application and reducing the resources needed to investigate and process payment exceptions and discrepancies.
Based on a March and April 2013 Aite Group survey of receivables experts at U.S.-based middle-market companies, this Impact Report by senior analyst Nancy Atkinson provides a point of reference regarding current processing abilities and opportunities, reveals the receivables processing needs of middle-market companies, and seeks to inform companies' and financial institutions' strategies and tactics for receivables-solution investments.
This 33-page Impact Report contains 22 figures and four tables. Clients of Aite Group's Wholesale Banking service can download the report.