Bank & Cash Management
Automated entry and matching of bank statements & lockbox records in JD Edwards
About Bank & Cash Management (BCM)
Entering bank statements and matching receipts to outstanding Accounts Receivable items can be a time consuming task. The Robotic Processing Automation solution Bank & Cash Management, a product of Capgemini Netherlands, integrates standard banking software with the financial administration of JD Edwards. BCM replaces the manual and repetitive task of finding the correct algorithms to reconcile open AR with receipts, with an efficient automated process. With BCM electronic bank statements are uploaded and automatically matched to the corresponding open AR or to the General Ledger, boosting the efficiency of your AR administration.
- Automating manual entry of electronic bank statements
- Automated matching of Invoices, about 95%
- Enriching master data by Machine Learning
- Improves process accuracy
- Based on international banking standards
- Supporting virtually all bank specific lay-outs
- User friendly user interface
- Quick ROI with short implementation period
More about Bank & Cash Management
Fully integrated with JD Edwards
The Bank & Cash Management module is fully integrated with the JD Edwards financial modules, processing bank statements and generating General Ledger entries and Accounts Receivable and Accounts Payable updates in real time. Matching receipts to open AR or GL is performed automatically.
BCM ensures the best possible matching rates as the matching process is performed based on customer specific business practices. BCM contains several matching algorithms, which are unique combinations between receipt and AR details, i.e. invoice number, address book number, paid amount, sales order, pick slip, payment notification and statement number. The matching algorithms are combined into customer unique routines, establishing the foundation to effectively perform the matching.
In addition to automated matching, BCM supports the creation of unapplied cash, manual AP payments and creation of new AR or AP invoices.
Supported bank formats
BCM generates the general ledger accounts automatically so your information is always up to date. The following common formats are supported: the MT940 standard, ABN / AMRO, ING, Rabobank, Bank Nederlandse Gemeenten, Commerzbank, GMU / OLA, VerwInfo41, BIbit and DOM’80. If necessary, additional layouts can be defined.
The implementation of the BCM module is realized in a few days. After installation and configuration, we run the first tests to determine the matching percentage. With the knowledge gained we optimize the matching algorithm and make the software available for the finance department.