A financial services firm eliminates roughly three days of manual cash application every month, automating payment matching in SAP with PayConnect's AI engine.
The accounts receivable team at this financial services firm was spending roughly three days every month manually applying incoming cash to open invoices in SAP. Remittance data arrived in inconsistent formats — PDFs, emails, and portal exports — and matching it to the right invoices required significant manual judgment.
The backlog of unapplied cash grew steadily each month, delaying revenue recognition and consuming hours the team needed for higher-value analysis work.
PayConnect's AI-powered cash application module was connected natively to SAP S/4HANA. The matching engine was trained on the firm's historical remittance patterns and began automatically applying payments to the correct open items.
Within two quarters of go-live, the AI matching engine was automatically applying more than 99% of incoming cash transactions, with the finance team reviewing only genuine exceptions.
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Having automated cash application, the finance team is now evaluating PayConnect's reconciliation module to bring the same level of automation to bank and GL reconciliation.
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