VanguARd from Autorek
Cash Applications Tool for Sales Ledger
VanguARd™ is an automated cash allocations tool from Autorek. It takes any format of remittance advice, relates it to banked amounts and automatically applies it to sales and debtors ledgers. And any format includes spreadsheets, .rtf’s, PDF’s, faxes, emails, scans and any linear data file or CSV file output.
This fantastically powerful functionality helps save hundreds of man-hours of effort and ensures instant detection of deductions and unfulfilled promises to pay. The immediate escalation of unresolved allocations and remittances, and the automatic allocation of matched items, makes the bank and sales ledger reconciliation process fast, accurate and error light.
Autorek is used to process 85% of one of the world’s largest sales ledgers’ receipts without the process touching human hands.
Accelerated Cash Allocation and Credit Control
VanguARd™ matches amounts received in the bank to paper and electronic remittances, validates the values and applies the cash to sales ledgers to match to unpaid invoices. This can be done as soon as the data becomes available so VanguARd™ can apply direct debits which are received overnight or electronic remittance advices when they arrive.
Key Features and Benefits
• Automated client receipt acknowledgement
• Confirmation of cash allocation
• Immediate collections and credit control alerts should a problem arise
• Automated FX translation and adjustment for currency difference to ledger
• Customised pre-set limits to stop account should these be exceeded.
• Immediate alerts for problematic invoices or accounts, and escalations as necessary
• Queries short payments and sends reminders for outstanding accounts
• Lower costs of sales ledger and credit control personnel
• Expected savings of up to 75% on FTE posting cash cost
• Automatic validation and processing of early settlement discounts.
• Reconciling bank credits to paper and electronic remittances
• Improved credit control productivity and effectiveness
• Increased confidence in good payers will fuel sales growth
• Rating and ranking of data collected by VanguARd™ for clients, building up a detailed history
• Matching of cash to sales ledgers to oustanding invoices
• Lower bad debts and better customer relations