The Dolphin service enhances the processing time of electronic payments by automating the capture of remittance information and its matching to the decoupled electronic payment. This new feature extends the benefits of Dolphin’s Process Tracking System for Accounts Receivable (PTS-AR) with the cability to process any payment transaction type.
The service enables the processing of decoupled electronic payments and remittance information in payment formats including ACH and wire transfers. Decoupled remittance advice information can be imported through the PTS-AR gateway as web downloads, email attachments or text within the body of the email. Dolphin’s configurable data parsing, open item resolution and reason code matching logic automates correlation of the separate pieces of the transaction. This component can be complemented with optical character recognition (OCR) for unstructured email attachments such as PDF files or web download automation components.
PTS-AR is designed to optimize the cash application process that companies perform using accounts receivable software from Germany-based multinational software provider SAP. Features of PTS-AR also include discrepancy management, 360 degree visibility in the cash application process and decreased days sales outstanding (DSO).
In recent news, three global oil and gas providers have closed agreements with Dolphin.
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