Automate Lockbox Processing in Oracle Fusion Financials

When:  Apr 20, 2023 from 01:00 PM to 02:00 PM (ET)

Abstract: 
Join this webinar to learn how you can improve your lockbox processing for ACH, WIRE and CHECKS when using Oracle (Fusion) Financials Cloud. 

We will show how we automatically connect with your banks to download your lockbox files. Flows coming directly from your customers, e.g. remittance advices via e-mail, are also covered and loaded automatically.
 
With the files loaded we start an OCR process to scrape the data from the scanned checks or remittance advices. This process eliminates the need for your banks to key-in information from the checks. The data retrieved from the lockbox files/checks or remittance advices is validated against Oracle Receivables. With that data we suggest the customer and invoices to close for the received check, payment or remittance.

A dashboard will make that the users can validate and approve the suggestions from APRO. Via autolearning the system optimizes customer recognitions and per customer how to apply the found transactions.

When all suggested matches are approved the receipts are created in Oracle Receivables. With setup you can arrange a connection of the lockbox files with your bank statement (BAI2, CAMT.053, etc.) files.

Learning Objectives:
1. Automate bank connections without custom developments.
2. Automate the loading of Lockbox files.
3. Minimize bank keying costs for lockbox files.
4. A practical and easy to use workbench for your users.
5.    Improve automatic matching rates.
6.    No custom development and custom interfaces.

Educational Tracks:
#CloudERP     

Presenter:
@John Nagel, Managing Director. APRO Software Solutions

Location

Online Instructions:
Url: http://ams.oatug.org/Meetings/MeetingRegistration.aspx?ID=508
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