Wine and Fish

Cash Allocation Process Data is more like Fish than Wine…

In the cash allocation process, there are a number of key areas where timing is everything in ensuring an optimal process. Conducting activities in the wrong sequence or in a lethargic fashion can have severely negative connotations for internal and external stakeholders alike, as well as the organisation itself. We’ll come to the fish/wine comparison, but it’s initially worth thinking...

Taking the Suspense out of Cash Allocation – Automated Cash Allocation Software

In our last blog in this series we looked at some of the problems surrounding manual cash allocation. In this edition we focus on enhancing and optimising the process using automated cash allocation software. With the choice of multiple tools on the market, we highlight the key capabilities needed as well as look at the case for a fully integrated...

Manual cash allocation puzzle.

Top 10 Issues with Manual Cash Allocation

What is Cash Allocation? What does Cash Allocation mean? Definition of Cash Allocation Why is Cash Allocation important? It’s imperative that as payments are received that they are applied to the correct customer and against the specific invoice transaction they relate to. Cash allocation needs to be conducted promptly in order to understand which customers and invoices are paid and which...

The Changing Face of Document Capture: Why Cognitive Document Capture is Smarter than OCR?

OCR to Cognitive Document Capture Information capture has advanced a long way since the advent of Optical Character Recognition (OCR) and Digital Repositories (EDMS Electronic Document Management Systems). Modern business applications require pre-validated and structured data as input so it is readily available for use in decision making and driving business processes. The majority of business applications store data in...

Effective System Integration for your Digital Transformation Project

A modern-day systems integrator working on an intelligent process automation project has a large number of tools and options available. It can be challenging to identify which system integration method to use and how to deploy them effectively. Combined with this, is an ever-increasing number of project stakeholders to please from the business to information security and compliance. Here...

Automated Cash Allocation

Automating Cash Allocation: A Finance Director’s View

As a Finance Director, I tend to be on the receiving end of many marketing campaigns with offers to discuss the benefits of intelligent process automation, but it’s not always clear what the tangible benefits are and how it could be applied to specific business processes. As someone who has implemented and used some of these technologies for automating...