Cash Application Agent

Deloitte’s AI-enhanced Cash Application Workflow can transform the way cash applications are managed, facilitating efficiency, accuracy, and compliance across the entire lifecycle. This solution leverages intelligent agents to automate and optimize each step, from payment receipt to audit logging and reporting.

Key Steps and Enhancements:

Payment Receipt: AI monitors multiple payment channels and standardizes incoming data formats.

Remittance Capture: AI uses NLP to extract remittance details from unstructured formats.

Customer Identification: AI uses pattern recognition and historical data to identify customers with high accuracy.

Invoice Reference Extraction: AI parses free-text fields and maps references to open invoices.

Open Invoice Retrieval: AI automates ERP queries and filters relevant invoices.

Payment Matching: AI performs intelligent matching, including partial and multi-invoice allocations.

Short Payment Handling: AI classifies short payments and suggests reason codes based on history.

Overpayment Handling: AI flags overpayments and recommends actions based on customer behavior.

Unapplied Cash Routing: AI categorizes unapplied cash and routes to the appropriate AR analyst.

GL Coding: AI auto-codes based on invoice and payment metadata.

ERP Posting: AI validates and posts entries, ensuring reconciliation integrity.

Customer Notification: AI generates and sends payment confirmation or discrepancy notices.

Audit Logging & Reporting: AI auto-generates reports and indexes logs for audit readiness.

Benefits:

Operational Efficiency: Reduces manual effort and accelerates processing times.

Accuracy: Enhances data extraction and validation accuracy.

Compliance: Determines adherence to policies and regulations.

Customer Satisfaction: Improves communication and payment application timeliness.

By embedding AI into routine tasks, Deloitte’s solution not only boosts productivity but also frees up human talent for strategic innovation. It’s a future-ready platform that brings together AI, automation, and human oversight into a cohesive, high-impact solution.

This professional service utilizes Amazon Bedrock, Bedrock Agents, Strands Agents, Lambda and OpenSearch.