AlgoriQ is an AI-powered cash application automation software that directly integrates with Sage Intacct and utilizes Machine Learning technology to auto-match and reconcile open invoices with payments received to your bank account.

With its 3-way match and straight-through reconciliation capability, finance teams reduce time spent on cash application by 85%-90%, enabling them to focus on strategic projects rather than manual, onerous tasks. In addition, companies that use AlgoriQ optimize working capital by reducing Days Sales Outstanding, Days Deductions Outstanding, and unapplied cash on books.

Leveraging its machine-learning and Natural Language Processing (NLP) technology, AlgoriQ can read and understand data in any format or language. All of these allow finance teams to resolve disputes efficiently and quickly and consolidate statements and balances across all banks in a single view. Finally, its in-depth analytics help companies prevent fraud and trigger AR health alerts.

Key Benefits:

Benefits for Sage Intacct customers: 

• Reduce reconciliation costs and time via automated straight-through reconciliation (STR) 

AlgoriQ eliminates time spent on cash application reconciliation by 85-90%. It enables AR teams to focus on customer value add instead of tenuous manual reconciliation into Sage Intacct. 

• Reduce DSO (Days Sales Outstanding) and unapplied cash on books 

Measurable decrease in DSO by fast auto-reconciliation, auto-dunning and minimizing unapplied-cash. AlgoriQ eliminates the concept of suspense accounts and auto-releases credit limits with a zero-time lag to prevent order loss. 

• Reduce DDO (Days Deductions Outstanding) and recover unauthorized deductions 

Approximately 15% of all deductions claimed are unauthorized. AlgoriQ auto-identifies customer deductions, auto-applies valid deductions, and enables workflows for exceptions and disputes. On average, 0.5% of A/R is written off; AlgoriQ helps minimize this. 

• Accelerate Revenue 

AlgoriQ reduces the time to reconcile and resolve disputes and enables faster credit unlock, enhancing the revenue cycle and enabling faster input tax credit filings. 

• Improve A/R Health in weeks 

AlgoriQ can be implemented within a few weeks (unparalleled implementation time with seamless integration with Sage Intacct) and provides comprehensive, actionable analytics on AR health, including DSO, DDO, current v/s historical across customer, region and time. 

• Multiple deployment options 

AlgoriQ supports multiple deployment options (Cloud, Private Cloud, Hybrid, On-premise etc.) to address all data security, privacy and compliance concerns. 

Additional Features for Sage Intacct customers: 

• End-to-end automation for intelligent AR Cash Application with continuous machine learning 
• Auto-read structured and unstructured documents from customers (POs, payment advice) and vendors (invoices) 
• Auto-reconcile multiple data streams, including POs, invoices, payment advice and bank statements, with Sage Intacct integration 
• Deductions auto-identification, classification and resolution workflows (including dispute management) 
• Niche features include multi-bank formats, multi-lingual, cross-border FX reconciliation and no payment advice scenarios 

System Requirements:
To enable the integration, Sage Intacct users are NOT required to purchase: Sage Intacct Web Services - Developer License.
However, Platform Services is required.

Price:
Implementation fee + Annual license fee (depending on size of the company / volume of transactions)

Integration Approved Countries:
United States;