Managing cash and handling transactions is a critical part of doing busi-ness, but that doesn't mean it's easy. It can be a major source of head-aches and bottlenecks for everyone, from growing startups to established large businesses. Old manual processes and a high volume of information combine with disconnected software systems to create slowdowns. With Kofax TotalAgility and Windmill EasyCash, you can reshape this entire workflow.
TotalAgility, a leading solution for supporting business process automation, already provides a robust platform for improving your work. However, it is highly extendable with solutions, including apps and software connectors available in the Kofax Marketplace. Adding EasyCash to your setup can yield substantial benefits.
How can you leverage the functionality of this solution to improve and re-shape how your financial teams work? Here's our quick look at some of the most important features and facts.
Streamline the Way You Process Checks
Even though many transactions have moved entirely into the digital space, not all of them have. Many transactions still take place in the form of checks. Unfortunately, check processing is traditionally a tedious process that can consume too much time and too many resources. However, with KTA and EasyCash, you can start automating more of the process.
Leveraging the powerful optical character recognition accessible in TotalA-gility, EasyCash allows for the complete automatic extraction of key details. This includes account information such as account number and the bank's routing number; the date recorded on the check; any notes, and of course, the amount written on the check. With KTA and EasyCash, you can more immediately begin processing a check.
Simplify EFT Transactions With Data Extraction
Electronic funds transfers, or EFT, are the gold standard for today's digital movement of cash. EFTs underpin many of today's transactions, but there is still plenty of room for improvement in this space. You can use EasyCash to eliminate some of the most time-consuming manual steps, such as find-ing payment information on a website or inside a specific bank file.
Using EasyCash, you can configure a KTA workflow that automatically visits the relevant digital space (or access the correct system), identifies the payment information, and extracts it back to the correct location in the proper format. Valuable work hours won't have to go towards endless copying, pasting, and swapping between software.
Reduce Errors With Touchless Remittance Processing
When you use EasyCash, you can also improve how you handle remittance processing. One of the most common problems in business is one that is inherent to every organization: human error. Human workers can grow tired or distracted and make mistakes, especially in repetitive tasks such as cash allocation and remittance processing. These errors can incur real costs for the business, which over time, could become substantial.
By configuring EasyCash to integrate with your workflow, you can imple-ment a touchless process that eliminates these errors. The result is a smoother, faster remittance procedure that yields reliable results with both digital and paper forms.
Use Automatic Matching for Speedy Transactions
Matching remittance data to payment requests is critical for ensuring that cash flows to the appropriate destination. EasyCash extracts key infor-mation, including invoices, account numbers, and dates, that you can then use to organize payment information. Set up a "hold" to pause while you wait for payment data or transactions. When payments arrive, EasyCash can automatically match that payment to items on "hold" and execute the final steps without human intervention.
Keep Humans in the Loop at Important Stages
Automation doesn't mean eliminating humans from the work altogether. On the contrary, your professional staff will still have a pivotal role to play in the process. When EasyCash cannot automatically make a match and trigger a payment, human workers will receive an alert. They can then use an intuitive user interface to review and complete the process manually.
Robust reporting tools also let staff review remittance histories and resolve issues with unmatched remittances. With these tools, you can enjoy both the convenience of automation and the confidence of a backup process to catch edge cases.
Do Even More With Kofax TotalAgility and Windmill EasyCash
Payments and cash allocation don't have to be an organizational challenge when you have the appropriate tools close to hand. With TotalAgility providing your platform and EasyCash delivering the functionality you need, impressive improvements in speed are possible.
Windmill EasyCash isn't the only solution available on the Kofax Market-place that can automate and improve key business processes. There are many other options to smooth out your path toward effective automation and a more quickly-realized ROI. Start exploring today, or contact us for more information about EasyCash and pricing.