AlgoriQ has significantly streamlined our cash reconciliation and deductions management, resulting in substantial time savings. Previously, the reconciliation process spanned between 3-5 days involving 4 resources , but with AlgoriQ's implementation, with its AI-driven invoice matching algorithms have slashed the reconciliation time to less than an hour. We are highly satisfied with its functionality, seamless integration with our ERP SAP ECC 6.0, and its user-friendly interface. One standout feature that we greatly appreciate is AlgoriQ's ability to automatically read and interpret payment advice in various formats. In the past, our team manually deciphered payment advice, but now, automation handles the entire process. This facilitates seamless cash posting, instantly updating details to our ERP without requiring any manual intervention. Moreover, AlgoriQ has proven instrumental in deductions management by autonomously identifying deductions along with their corresponding reason codes from extensive payment volumes. It efficiently categorizes deductions based on our buyer-level configuration, further enhancing our operational efficiency.

user friendly, good customer support, easy integration

FreePay has enhanced 3M’s productivity with high degree of automation of manual AR processes Before adopting FreePay, we often experienced delays in cash realization, which hindered the ease of business, with customers having to wait to release goods until payments were received. This resulted in slower turnaround times (TAT) and delayed 3M's cash collection