BPO Cash Application
Cash Applications is the process of applying customer remittances to open trade receivables. This is a critically important service for companies; when done properly it forms the cornerstone of an efficient collections effort providing an accurate representation of what debtors truly owe.
If Cash Application is done incorrectly (if the funds aren't properly applied) collectors lose time and efficiency and customer dissatisfaction can result.
What We Do
RMS’ comprehensive Cash Application BPO services include:
- Applying customers' exception cash (funds that were not posted at the bank/lockbox)
- Reconciling remittance detail to bank deposits (assuring everything we post should be posted)
- Investigating unidentified payments, identify where they belong and apply them.
Cash Application
Customer remittances are accurately applied against open trade receivables.
- Accurate application of customer remittance
- Improved customer satisfaction
- Sarbanes-Oxley compliance by avoiding a misstatement of reserve balances
- Increase efficiency of collection process
