Fiserv and DadeSystems unleash automated A/R
Courtesy of a new partnership between financial services technology solution provider Fiserv and DadeSystems, more banks will be able to access automated account receivables (A/R) technology which they can offer to their commercial clients as either a Software-as-a-Solution (SaaS) or standalone solution, reports David Penn at Finovate.
“Businesses spend too much time manually posting payments to invoices”
“Businesses spend too much time manually posting payments to invoices – a process prone to error and costly in terms of time and resources,” VP of product management for Fiserv’s Payments Management Solutions division, John Dangoia says.
Miami-based DadeSystems leverages machine learning, optical character recognition technology, and its own patented, artificial intelligence (AI) based algorithms to automate the invoice-to-cash application process.
The company’s DadePay AR Automation solution captures both paper and electronic incoming payments automatically, matches them to open invoices and updates the companies’ ERP systems.
DadePay also features a mobile AR app and an ePayment portal.
Headquartered in Brookfield, Wisconsin, Fiserv was founded in 1984, and had global revenues of $5.7 billion in 2017. It has a market capitalisation of $33 billion.
