FAQ's

• What is remittance in accounts receivables?

  A remittance in accounts receivable is a transfer of currency made to the party performing the accounts receivable process. This remittance can be made via any B2B payment method, including check, ACH, credit, or virtual card.

• How does accounts receivable payment processing work?

  Accounts receivable payment processing works in three steps: invoicing, tracking, and recording. Invoicing in the accounts receivable process includes producing invoices for customers who have received service but have not produced a payment. Tracking involves establishing visibility and processes for which customers have and have not sent payments. Recording involves creating a trackable and searchable history of past payments that have been accepted.

• What is the end to end process of accounts receivable?

  The end to end process of accounts receivable is:
  
  1. Invoicing
  2. Tracking and communication
  3. Remittance processing

• What is remittance processing?

  Remittance processing is the step of the accounts receivable process in which the payment received by the business are captured, matched, approved and stored. Remittance processing is the process by which a company receives payments.

• How long is the implementation process?

  At CloudX our team of experts take a personal, customized approach to systems integration. We take the time to make sure you’re comfortable with all of APSmart’s capabilities and that you have a seamless transition in your day-to-day operations. For that reason, implementation can take as long as eight weeks, during which we work behind the scenes to give you a single, streamlined automation solution and ensure your team knows how to use it.

• What about the tools I’ve already invested in?

  Our APSmart technology helps to seamlessly integrate your existing ERP and other digital tools, in order to eliminate inefficiency and multi-tool use wherever possible. Our goal is to build on what you’ve created, streamline your existing processes, and allow a smooth, user-friendly transition into the future of business.

• How are CloudX services different from other platforms and tools?

  CloudX offers complete, end-to-end AP automation and document processing solutions to make operations smoother and financial insights more accessible to decision-makers. Not only do we bring today’s solutions to the table, but our intuitive and flexible services will also continue to adapt to your internal and industry-wide changes. Scale your business with versatile tools that take you from the dark ages to the Cloud Age.

• Why invest in automation?

  Carefully considering business investments is important. Fortunately, CloudX’s adaptable technology pays off big for your business, in more ways than one. Not only will you save valuable human resources and better apply your team’s skills to higher-order tasks, but you can also monetize the process while automating it. Believe it or not, we’ve established a pathway to monetize your AP process and have helped clients earn up to 60 percent cash back on accounts payable transactions.