AlgoriQ is an AI-powered cash application automation software that uses machine-learning technology to auto-match and reconcile open invoices with payments received in your bank account.
With its 3-way match, straight-through reconciliation capability, finance teams reduce time spent on cash application by 85%-90% enabling them to focus on strategic projects rather than manual, arduous tasks. In addition, companies that use AlgoriQ optimize working capital by reducing Days Sales Outstanding, Days Deductions Outstanding, and unapplied cash on books.
Leveraging its machine-learning and Natural Language Processing (NLP) technology, AlgoriQ can read and understand data in any format or language. All of which, allows finance teams to resolve disputes efficiently and quickly as well as consolidate statements and balances across all Banks in a single view.
Finally, its in-depth analytics help companies prevent fraud and trigger AR health alerts. With its easy and quick implementation, AlgoriQ can be used globally and with any/multiple ERPs.
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