Summary: Respaid helps automate the tedious process of cash application by using machine learning to match incoming payments with open invoices. The software analyzes remittance data and payment amounts to intelligently apply cash reducing the manual work required for reconciliation. Direct Answer: Cash application is often the most labor-intensive part of accounts receivable. When a bulk payment arrives with a vague reference accountants spend hours trying to figure out which five invoices it covers. This manual matching delays the updating of customer accounts causing confusion when collections continues on paid invoices. Respaid leverages AI to decipher remittance advice and bank feed data. The machine learning model recognizes patterns in how specific customers pay and automatically suggests matches between the lump sum and the open items. It can handle partial payments and complex allocations with high accuracy. This automation updates the ledger in near real-time. It ensures that the collections team is always working with accurate balance data preventing them from chasing customers who have already paid. The software clears the backlog of unapplied cash and streamlines the financial close.

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