AlgoriQ

AI-powered intelligent fund allocation (IFA) algorithm which solves the problems of Modern Trade – OEM & order-to-cash cycle.

Features of AlgoriQ

End-to-end automation for receivables management

  • Auto-read payment advices and MIS across multiple formats
  • Intelligent cash application to outstanding ledger including
    • Auto-invoice matching
    • Credit/Debit note application
    • Scheme application
    • Automated ERP posting
  • Eliminates cash held in suspense accounts
  • Maps business process nuances
  • Archives decisions for future references and audits

    Handle complexities including

    • Multiple deduction reasons
    • Address remittances via multiple banks
    • Non-standard file types, multiple formats
    • Cross-border payments
    • Multi-language support

      Actionable Insights and Analytics

      • Monitor DSO trends and respond to “suggested actions”
      • Intervene based on triggered threshold alerts
      • Deduction aggregation
      • Trend analysis on deductions, disputes
      • Identify misused deductions, claims
      • Tailor Schemes and Credit-periods based on utilization patterns
      • Multi-dimensional insights across clients, regions, products etc.
      • Track and minimize write-offs

        Real-time AI-based dispute addressability

        • Machine learning algorithm progressively learns and resolves incomplete inputs
        • Reduces time spent on dispute management via invoice specific dispute addressal mechanism
        • Applies AI based rule-sets to auto-respond and auto-adjust specific disputes
        • Handles payment recon information spread across multiple ecosystems (multi-bank, multi-systems – ERPs, OMS, PODs, DMS etc.)
        • Real-time resolution of Parent-child relationships, new client codes, master data variations

          Benefits of AlgoriQ

          • Straight through reconciliation
            AlgoriQ eliminates time spent on invoice reconciliation by ~85% (companies spend an average of 2 hours per invoice)

           

          • Reduce time spent on dispute analysis
            Companies spent an average of 90 days to resolve disputes. Algoriq digitizes the workflow and eliminates time loss by 60% in first quarter of implementation

           

          • Recover unauthorized deductions
            15% of all deductions claimed are unauthorized. AlgoriQ helps to recover the same. On an average 0.5% of A/R is written off, AlgoriQ reduces this by 25% in first year of implementation
          • Reduce DSO
            Unapplied cash lying in suspense accounts due to inability to reconcile increases DSO. AlgoriQ eliminates the concept of suspense accounts and releases credit limits with zero time lag and captures lost orders 
          • Accelerate Tax Credits
            AlgoriQ reduces the time taken to resolve disputes and thus helps accelerate filing of claims for input tax credits on invoice values adjustments
          • Improve A/R Health
            AlgoriQ provides insights on deductions, schemes, incentives that aid the CFO to take decisions to improve A/R Health,  e.g. a spike in deductions due to material damage in the previous quarter can trigger an audit on Shipping and Packaging, and/or trigger insurance claims

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