AlgoriQ - AI/ML Powered Cash Application

Key features

• Auto-Read and Process Payment Data – Automatically extracts data from multiple formats, including payment advice, bank reports, and trade scheme deductions.
• Automated Invoice Matching and Adjustments – Matches invoices with payments and automatically applies credit/debit notes.
• Multi-Currency and FX Rate Integration – Supports cross-currency transactions with real-time exchange rate adjustments.
• Intelligent Dispute Management – Uses AI-driven rules and automated emails to auto-respond and auto-adjust disputes, with manual override for exceptions.
• Configurable Dunning – Automates payment follow-ups with customizable alerts.
• Rules-Based Processing – Ensures accuracy with round-off rules and auto-computes withholding tax.
• AI-Powered Reconciliation and Error Handling – Uses machine learning to resolve incomplete inputs and reconcile pending payments.
• Multi-Bank Capability and Flexible Offsets – Supports unlimited collection banks and allows manual offsets for specific cases.
• Configurable Threshold Alerts – Automated notifications to AR teams for overdue payments, excessive deductions, and more, enabling proactive risk management.
• AI-Based Decision Support & Analytics – Auto-suggests resolutions for disputes and partial payments and provides buyer insights to enhance revenue strategies.
• Tax Reconciliation Module – Auto-reconciles buyer-uploaded tax filings with withholding tax provisions and accelerates input tax credit claims through auto- reconciliation in the absence of complete information.
• Multi-Party Notifications – Sends automated notifications and enables communication between multiple stakeholders involved in the payment and reconciliation process.