Integrated Invoice-to-Cash Application

02.08.22 11:30 AM By Aishwarya

Top Trending 2022

Integrated invoice-to-cash apps provide a unified platform with automated and predictive capabilities to increase cash flow, better collections, and improve the customer experience. This research can be utilised by CFOs to evaluate providers that facilitate the digital transformation of invoice-to-cash processes.

Definition/Description of the Market
Market describes the integrated invoice-to-cash (I2C) applications market as cloud-based tools that permit CFOs to manage customer invoicing, collections, customer payments, and cash applications on a unified platform.

The fundamental solutions of the integrated I2C application consist of:
> Customer invoicing — This solution integrates invoice data from enterprise resource planning (ERP) systems and distributes it across many channels to the client.
> Collections —This technology delivers a single view of accounts receivable (AR) to the collections team and automates collections processes, such as prioritising calls and recording client interactions.
> Payments from customers — This solution facilitates the receipt of consumer payments via numerous means and provides secure payment gateways that conform with U.S. and international financial rules.
> Cash applications – This solution links client payments to open invoices based on information from remittances or specified rules.

Among the optional solutions provided by the integrated I2C application are:
> Deductions and disputes - This solution helps the business to track, code, route, and resolve deductions and disputes on client invoices.
> Credit monitoring — This solution utilises external data (such as credit ratings) or internal data (such as payment habits) to inform collections teams regarding the possible credit risk of customers.
Integrated Invoice-to-Cash Application
Top Trending Vendors

BilliTrust
Its product focuses primarily on increasing the efficiency and velocity of cash collection. Its operations are mostly concentrated on North America, and the bulk of its clientele are either small or lower middle-sized businesses. It facilitates a business payments network (BPN) that streamlines data and documents between accounts receivable (AR) and accounts payable (AP) payment platforms, banks, and payment intermediaries worldwide.

In October 2021, following the conclusion of data collection for this  Integrated Invoice to Cash Application Segment, Billtrust completed its acquisition of iController, a European collections platform. In February 2022, it also completed its acquisition of Order2Cash. Billtrust and Order2Cash both met the inclusion criteria and are reviewed separately so that readers can compare their respective capabilities. 

Cforia
Cforia autonomy solution focuses mostly on improving AR and optimising collecting procedures. Its operations are mostly concentrated in North America, and the bulk of its clientele are small to large businesses. Cforia is planned enhancements to its analytics capabilities, including the addition of a new business intelligence module designed to improve the company's productivity metrics and drill-down capabilities. In addition, it recently revealed new features for existing tasks in cash payments and collections, which would allow for expanded activity tracking capabilities.

Emagia
Enterprise Receivables Management System focuses mostly on automating the I2C process using its artificial intelligence and digital assistant Gia. It primarily operates in the United States and India, and the bulk of its clientele are large or multinational corporations. Emagia is diligently working to improve the user experience (UX) of its complete product suite, as well as the predictive capabilities of its collections, cash applications, and deductions modules. In addition, the company continues to invest in its natural language processing capabilities for document extraction, chat, and voice services.

Esker
Esker Accounts Receivable system focuses primarily on delivering real-time visibility into an organization's cash status and enabling cash collection options that promote efficiency. Its operations are centred in Europe, with a significant presence in the United States. The bulk of its customers are either tiny or lower-middle-sized businesses. Future investments include enhanced AI-powered detection and a predictive and prescriptive collecting method based on credit risk. It also intends to enhance the customer portal's natural language processing and digital assistant capabilities.

FIS
GETPAID solution focuses primarily on enhancing cash collections through automation and efficiency. Its operations are regionally diverse but centred in the United States. The majority of its customers are huge or multinational corporations. FIS uses AI to automate and support its cash application and collection processes' decision-making. Through its 2019 acquisition of Worldpay, the company also provides native payment processing. It intends to enhance its efforts in artificial intelligence, expand its ERP integrations, and develop client procure-to-pay (P2P) portal integrations.

HighRadius
Autonomous Receivables product focuses primarily on automating the I2C process via AI-driven automation. Its operations are regionally diverse but centred in the United States. The majority of its customers are huge or multinational corporations. HighRadius's offering employs AI throughout its entire platform via ML-driven process automation and decision-making support. Plans include the expansion of AI capabilities, such as the incorporation of regional and industry-specific support.

ts software focuses primarily on automating AR processes like as billing, online payments, collections and deductions, cash applications, and credit risk management. Its operations are mostly concentrated in Europe and North America, and the bulk of its clients are multinational corporations. It has aspirations to expand the communication choices of its government portals in nations such as Australia, New Zealand, Japan, and India. In February 2022, following the conclusion of data collection for this Integrated Invoice to Cash Application Segment, Billtrust completed its acquisition of Order2Cash. Billtrust and Order2Cash both met the inclusion criteria and are reviewed separately so that readers can compare their respective capabilities.

Serrala
AR Automation Suite focuses primarily on centralising and streamlining incoming payments by automating payment matching, forecasting client risk, and implementing collection techniques. Its operations are mostly concentrated in Europe and North America, and the bulk of its customers are small or lower-middle-sized businesses. Recently, Serrala integrated debit notes into its SmartEye document capture engine to automate the creation of disputes. In addition to its procure-to-pay and cash and treasury solution offerings, it intends to continue investing in the development of product-supporting integrations and partnerships.

Sidetrade
Using AI, Sidetrade Augmented Cash focuses on automating, streamlining, and accelerating the invoice-to-cash cycle for businesses. Its operations are mostly concentrated in Europe and North America, and the bulk of its clients are multinational corporations. It bought Amalto in 2021 to enhance its staff and product capabilities, allowing it to expand in North America and develop new order-to-cash and billing modules. The company intends to expand its go-to-market teams and examine further acquisition opportunities. It also intends to improve its cash application solution, payment processing capabilities, and client portal user experience.

Versapay
The primary objective of Versapay ARC is to enhance the customer experience by linking buyers and sellers on a shared platform. Its operations are mostly concentrated in North America, and the bulk of its customers are small or lower-middle-sized businesses. The company has built partnerships with Microsoft Dynamics, NetSuite, and Sage Intacct ERPs, and it has just implemented a payment solution using Microsoft Dynamics 365 Finance & Supply Chain Management. Additionally, Versapay combined its payment system and augmented reality platform into a single architecture. It intends to invest further in a new credit management module, additional AP portal connectors, and reporting improvements.

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