Hanse Orga Introduces Innovative Solution for Remittance Advice Automation

Published 

Hamburg-  In addition to large and complex remittance advices that are received by a small group of larger clients, many corporations also regularly receive smaller and simpler remittance advices in the form of e-mails, PDF-, Word- or Excel documents. These advices usually contain only a few lines with regard to the invoices paid. Currently this is handled largely manual, leading to inefficiencies and delayed information for the credit and collection teams.

The new 5.1.2. release of Hanse Orga’s FinanceSuite AutoBank Automatic Cash Applicaton, however, delivers now a innovative solution to automate this process. The integration of the remittance advices is handled very flexibly via the embedded OCR solution. This OCR software is specifically designed for interpreting such remittance advices, subsequently link the remittance advices with the bank statement and automatically process the open item. The result is an unparalleled level of efficiency and information is much faster available.

For the first time, the entire end-to-end process is supported with this release to maximize the automation in the cash application process. Companies can realize very significant time savings due to the high automatic assignment rates and reduced manual effort.

“Such a software solution was urgently required, since according to our experience companies increasingly receive such unstructured remittance advices which they could only process manually until today. With the new version of our FinanceSuite AutoBank Automatic Cash Application we are the first provider to deliver an automated processing functionality which is also integrated in SAP®”, says Sven Lindemann, Chief Executive Officer, Hanse Orga.