Remittance refers to the transfer of funds from one party to another, typically to settle a debt or invoice. The process involves the payer initiating the payment, providing details such as the amount, recipient, and purpose, which are then transmitted through various payment channels. Upon receipt, the payee reconciles the remittance information with the corresponding invoice or account to ensure accurate payment processing.
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.
