Technology

Our leadership is derived from a dedication to value innovation for our clients. That means a consistent engineering effort to drive down cost while continuously adding meaningful functionality to our core solution. Since its inception, Open Scan has been single minded in its objective to optimize the accounts receivable process. As such, we have been at the forefront of innovation that powers operational and financial performance.

Some of the pioneering advancements our clients enjoy include; automated data capture from paper, electronic or digital remittance formats integrated into a single workflow, intelligent matching of extracted data to an open invoice record thereby insuring flawless data accuracy, deposit and cash application from field locations and a deduction identification engine that speeds collections activity and reduces credit risk. Lastly, enabled by a robust  interface, the solution communicates seamlessly with any bank lockbox or ERP environment.

The Open Scan software is comprised of a suite of features that can be combined and configured to meet your A/R process requirements.

Fully integrated image and data import capability from any wholesale lockbox.

  • Captures check and remittance data and images from field locations.
  • Established interfaces with top banks. 

Export of data to downstream applications including document management and Check 21

  • Standard Image Cash Letter exporters have been created, tested and utilized in production.
  • Export files can be tailored for any image archive environment.
  • Replaces any current RDC platform

Integrated Receivables Workflow

  • Integrates virtually all payment and remit types into single workflow including ACH, EDI 820, excel spreadsheet, PDFs and paper.

Intelligent Data Capture and A/R Matching

  • Leverages smart "point and click" templates that the user “teaches” to extract data in seconds from many payment formats. 
  • Intelligently matches extracted data to open A/R data utilizing proven advanced algorithms, specifically designed for wholesale accounts receivable.
  • Multiple fields of data are employed to create a confident match to assure accurate cash application.
  • Sophisticated self-learning workflow technology to manage exceptions and select correct posting invoices.

Balance & reconciliation of any payment & remittance transaction

  • Standard workflow reconciliation of payment & remit formats.
  • Maintains lockbox batch integrity.
  • Bank deposit total reconciliation to A/R.

Intuitive, in-process exception handling

  • Single view and user Interface allows users to handle exceptions before posting.
  • Increases posting accuracy and speed.
  • Utilizes deduction codes to automatically identify and process deductions and short pays.

Cash application to the A/R system at the invoice line item level

  • Posts highly accurate transactions at the invoice line item level.
  • Provides flexibility to post at the account level if appropriate.
  • Typical accuracy is > 90% hit rate

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