Automate Remittance with Remittance AI
Managing remittance payments can be a time-consuming and error-prone task for businesses. Traditionally, it involves opening emails, sifting through attachments, manually entering payment information, and reconciling invoices—an essential yet tedious process. But what if there was a way to automate it all, saving time, reducing errors, and improving efficiency? Remittance AI, powered by Microsoft Copilot in Dynamics 365 Business Central, is designed precisely for this purpose.
What is Remittance AI?
Remittance AI is a revolutionary tool for businesses that automates the process of handling remittance emails. Using embedded AI capabilities in Business Central, it can extract payment information from emails—regardless of the format—apply the data to relevant invoices and create cash receipt journals. This makes reconciling payments faster, easier, and more accurate than ever before.
The tool works with multiple file formats, including PDFs, Word documents, Excel (.xlsx or .csv) spreadsheets, and even text in the body of an email. Unlike traditional systems, there’s no need for manual configuration or training—connect your email inbox and let Remittance AI take care of the rest.
How does it work?
Here’s a step-by-step look at how Remittance AI transforms remittance processing:
Automatic Recognition of Emails
Once connected to your email inbox, Remittance AI scans incoming remittance emails and identifies payment details within attachments or the email body.
Extracting Data from Documents
Remittance AI extracts the relevant information from various file formats and maps it to the corresponding invoices in Business Central.
Seamless Matching to Invoices
The AI matches payment details with invoices automatically, applying it to the payment and marking invoices as completed. This eliminates the need for manual entry or cross-referencing.
Review and Journal Creation
After processing, users can review the remittance data and confirm the creation of General Journals. This final step ensures accuracy while giving users complete control over the process.
Before And After Remittance AI
The “Traditional” Way
Step 1: Opening an email and its attachments
Step 2: Manually finding the client or buyer in the system
Step 3: Entering invoice details one by one
Step 4: Cross-referencing payments with invoices
Step 5: Marking invoices as paid
This manual process not only took valuable time but also increased the risk of errors.
Now, with Remittance AI:
Step 1: The tool automatically processes remittance emails and extracts data regardless of whether the email is opened. It then matches the payment information to invoices in Business Central.
Step 2: Users review the information and create journals with a click.
By reducing the process to just two steps, businesses can save countless hours and ensure accuracy without typing a single word.
Key Features of Remittance AI
Multi-Format Support
Handles PDFs, Excel spreadsheets, Word documents, and text in the email body seamlessly.
AI-Driven Mapping
Automatically recognizes and maps payment details to the correct invoices.
Streamlined Workflow
Simplifies the process to a few clicks, eliminating manual data entry.
Credit Management
Automatically applies credits taken by selling partners, integrating them within Business Central.
Error Reduction
Reduces the risk of human errors, ensuring accurate and consistent payment processing.
Why use Remittance AI?
Remittance AI isn’t just a time-saver—it’s a game-changer for businesses that deal with frequent remittance payments. Here’s why you should consider it for your operations:
- Save Valuable Time
- By automating repetitive tasks, your team can focus on more strategic priorities, such as improving customer relationships or scaling your business.
- By automating repetitive tasks, your team can focus on more strategic priorities, such as improving customer relationships or scaling your business.
- Enhance Accuracy
- Manual entry errors are eliminated, ensuring your financial records are always correct and up to date.
- Manual entry errors are eliminated, ensuring your financial records are always correct and up to date.
- Boost Efficiency
- Processes that used to take hours can now be completed in minutes, improving operational efficiency across the board.
- Processes that used to take hours can now be completed in minutes, improving operational efficiency across the board.
- Seamless Integration
- Built directly into Dynamics 365 Business Central, Remittance AI integrates with your existing workflows, making adoption simple and hassle-free.
- Built directly into Dynamics 365 Business Central, Remittance AI integrates with your existing workflows, making adoption simple and hassle-free.
Transform Your Financial Workflows Today
With Remittance AI, businesses can finally eliminate the stress and inefficiencies of manual remittance processing. From recognizing payment details in an email to reconciling invoices automatically, this tool does it all—leaving you with more time to focus on growing your business.
Ready to take the next step? Contact us today to see how Remittance AI can transform your payment processing workflow.
