Selecting ABBYY Vantage: The Reason Behind Sidetrade's Choice for Enhanced Payment Solutions

Selecting ABBYY Vantage: The Reason Behind Sidetrade’s Choice for Enhanced Payment Solutions

Other | Customer Experience Management | Document Processing

Why Sidetrade Chose ABBYY Vantage for Its New Cash Application Solution

Other | Document Processing

Customer Overview

Name	Sidetrade
Headquarters	Boulogne-Billancourt, France
Industry	Technology
Web	www.sidetrade.com

Sidetrade, the global leader in AI-powered Order-to-Cash solutions, helps finance teams automate and optimize the Order-to-Cash process, enhancing productivity, performance, and working capital management. They adopted ABBYY Vantage to integrate automated remittance document processing into their new cash application solution as a key part of Sidetrade’s end-to-end Order-to-Cash platform.

Challenge

To find an accurate, user-friendly intelligent document processing solution for processing remittance advice documents.

Solution

ABBYY Vantage Remittance Advice Skill.

Results

No-touch, straight-through processing for highest user experience.

Challenge

Building out a new product to help finance teams automate the cash application process, Sidetrade was searching for a vendor to provide an intelligent document processing (IDP) solution to extract data from remittance advice documents. This data is key in providing instructions to match incoming payments to outstanding invoices. As a leader in cash application, Sidetrade wanted to partner with a specialist in IDP.

At the beginning of the search, Sidetrade defined the criteria for selecting an IDP provider. They spoke to a number of different vendors, but none could meet all of the requirements, which included:

High degree of accuracy / straight-through-processing out of the box
A great user experience, especially when manual correction is necessary
Ability to support many different languages
Security
Cloud and on-premise availability

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Solution

When Sidetrade reached out to ABBYY to review the capabilities of Vantage, it finally found a solution that met all of its requirements. Sidetrade chose the ABBYY Vantage Remittance Advice Skill to build into its product, specifically to extract three key data points from remittance documents.

Right out of the box, the Remittance Advice Skill delivered upwards of 90 percent accuracy on remittance documents. With customization and advanced training of the skill, accuracy improved further, supporting Sidetrade in its goal to deliver the highest user experience to its customers with no-touch remittance document processing to expedite cash application of payments.

Value

Extremely high degree of accuracy processing data from remittance advices
No-touch, straight-through processing for highest user experience
Highly professional, thorough documentation facilitated implementation

“The partnership with ABBYY is exciting and showcases Sidetrade’s collaboration with global leaders who are also innovating in AI to accelerate finance transformation.”

- Kurtis Heister, VP Product – Cash App

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