Collection involves pursuing and obtaining payments from customers who owe money to a business, managing the accounts receivable process. On the other hand, cash application focuses on accurately applying received payments to the corresponding invoices, ensuring proper reconciliation of financial transactions. While collection is about obtaining funds, cash application is the process of recording and allocating those funds to specific customer accounts.
Reimagine Your Order-To-Cash with AI
Touchless Receivables. Frictionless Payments.
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Emagia is a leading provider of AI-powered Order-to-Cash (O2C) automation platform that modernizes finance operations for midsize to large global businesses. Many global businesses and shared service centers use Emagia’s Autonomous O2C to transform to digital world-class operations in credit, invoicing and payments, receivables, collections, deductions, cash application and cash forecasting. Emagia solutions improve their customers DSO, cash flow, credit risk, operational cost, compliance and profitability.
