Touchless Cash Application Automation Processes $1B in Transactions

Intelligent automation case study in finance and accounting.
Cash application automation provided touchless handling of 75% of this Fintech’s over $1B in transactions annually.
Read the detailed case study here wonderbotz.com...
This Fintech buys invoice receivables from clients in need of working capital and bills the debtor for the invoice amount. Rapid posting of payments is essential to their business operations, and their high-touch manual system for processing a cash receipt hindered their efficiency.
The AI-powered automation runs overnight on thousands of invoices to match the data and apply payments in their financial system. In the morning, the automation supplies agents with daily reports that identify exceptions that require manual handling.
This exception-based cash application automation handles 75% of the total volume of transactions. In the first year, the automation processed 1 million invoices valued at more than $1 billion. It saved the company 15,000 hours annually, achieving positive ROI in under 12 months.