Wausau Financial Systems, a premier provider of payment and receivables processing solutions, has acquired the Revere Group’s cash application and deduction management solution. Cash360 provides an integrated solution that completely automates the cash application and deduction resolution process.
The cash application and deductions management service alleviates the pain and inefficiencies experienced from accounts receivables (A/R) and payment processing issues, including customer payments not matching invoiced amounts and excessive staff devoted to managing deductions manually.
“Cash application and payment processing are pivotal processes for companies to better manage their accounts receivables in a difficult economic environment. However, the shift to electronic payments, mixed with substandard receivables technologies, is inhibiting the efficient posting of cash, hurting the bottom lines of many companies,” said Kathy Strasser, executive vice president (EVP) of solution management for Wausau Financial Systems. “With Cash360, corporate clients will see immediate return on investment, especially given the solution eliminates manual processing, allowing the reallocation of staff to focus on other value-added tasks. In addition, companies will benefit from the expedited identification of unauthorised deductions and root-cause analysis of compliance issues.”
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