EFT Payment Reconciliation - A.I. to the Rescue

Electronic B2B payments grew 15% year-over-year, according to NACHA.  However, while your deposit gets sent to your bank, you spend hours manually processing and posting the remittance data. Remittances come separately in emails, from payment portals, PDFs, or in electronic files.  As this shift from paper accelerates, bank lockbox providers cannot provide artificial intelligence technologies today to automate this process.  The result is most suppliers struggle with manual processes, high unapplied cash, poor visibility and reporting of receivables, and customer service issues.   

The webinar will review the challenges and provide solutions to solve this problem.  IOFM will provide all webinar participants with a complimentary white paper that examines the problem, solution, and benefits. 

Key Takeaways include:  

• The latest IOFM benchmarks on electronic payment adoption and the accounts receivables challenges that businesses face
• The operational and financial impact of poor cash application processes
• The pros and cons of different approaches to automating cash application
• Standardizing electronic payment workflows without changing the way you receive payments
• The role of robotic process automation in cash application

Mark Brousseau
President, Brousseau & Associates 

Over the past 26 years, Mark Brousseau has established himself as a thought leader on accounts payable, accounts receivable, payments and document automation.   A popular speaker at industry conferences and on webinars and podcasts, Brousseau advises prominent end-users and solutions and services providers on how to use automation to improve document- and payments-driven business processes.  Brousseau has chaired numerous educational conferences and has served on several industry committees and boards.  He resides in Center City Philadelphia with his wife and three sons.

Tom Berdan
Chief Marketing Officer, DadeSystems

Tom Berdan is Chief Marketing Officer, leading marketing and strategic partnerships for DadeSystems. A financial services and technology industry veteran with more than 30 years’ experience, Berdan’s experience included leading Market Development and Product Management for large FinTech firms. Berdan began his career as a banker, including roles as the Chief Operating Officer, President of the bank’s mortgage company, and served on the bank’s Board of Directors.

Dan Sollis
Executive Vice President of Business Development, DadeSystems

Dan is a technology sales leader with over 30 years in the industry. During 16 years with Digital Equipment he rose to VP for its Canadian Financial Services division. Dan led sales at Sanchez Computer Associates helping the company grow from under $16M to over $100M in 7 years before its acquisition by FIS. More recently he has led sales at Infogix and Bluepoint Solutions. Dan holds a BA in Economics from the University of Victoria and an MBA from the University of British Columbia.