BravoTran launched BravoTran Cash Application, a solution that automates the matching of incoming customer payments to the correct invoices.
BravoTran Cash Application connects incoming payments with customer remittance advice, original invoices, and bank deposit information, then closes confirmed matches directly in CargoWise. Instead of requiring accounting teams to manually search across CargoWise, email and bank statements, the solution routes only exceptions that need human review to a centralized workflow.
"We built BravoTran Cash Application to make the straightforward transactions disappear from the workload and put human attention where it delivers the most value,” says Tom Durrenberger, CEO of BravoTran.
Key takeaways:
· BravoTran Cash Application is built around the fact that people should handle exceptions, not routine matches.
· The solution automatically gathers the information needed to determine where a payment belongs, including incoming customer payments, remittance advice, original invoices, bank deposit information, and customer and invoice data within CargoWise, which stays current in real time as invoices post, are credited, or are reversed. Once a match is confirmed, the transaction closes directly in CargoWise; only payments that can't be confidently matched are routed for review.
· BravoTran Cash Application allows forwarders to process more payments without adding proportional staff.
- Finance teams will have a timelier view of what's been paid and what remains outstanding.
