The system extracts remittance information from incoming payments using advanced optical character recognition (OCR) technology, which scans and interprets data from remittance documents such as invoices, checks, or emails. Through precise text recognition algorithms, it captures relevant details such as invoice numbers, amounts, and payment references. Additionally, machine learning algorithms further enhance extraction accuracy by continuously learning from patterns and improving recognition capabilities over time.
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.
