TPS EFT SmartMatch - Invoice Matching Solution Released
March 31, 2021 (Ithaca, NY) – RP Solutions, Inc., a leader in cloud-based payment processing solutions is pleased to announce the launch of TPS EFT SmartMatch. TPS EFT SmartMatch is the latest module within the TPS Platform. TPS EFT SmartMatch automates the process of reconciling and posting electronic payments received in a business bank account, taking your receivables operation to the next level and making processing a breeze!
With TPS EFT SmartMatch, bank payment records are imported into the TPS platform to create payment statements that are then electronically matched with the corresponding payment and invoice details received via email. A statement matching application then allows the operator to review the automated matches and captures any transactions that could not be auto-balanced and validated via TPS EFT SmartMatch and presents them to the operator. The operator can then utilize search features to manually match and key invoices through the system.
In addition to Statement Matching, TPS EFT SmartMatch provides an Invoice Keying application to extract the payment data. This invoice data can then be extracted and posted to your internal billing and accounting systems. This saves your organization significant time and allows you to process and deposit faster.
TPS EFT SmartMatch was designed to significantly reduce labor costs and time, while improving statement posting accuracy associated with EFT (Electronic Funds Transfer) Payments and emailed bank statements, which are now part of the digitalization of payments and documents seen in many high volume processing organizations today. Standard manual processes can take multiple people and several days to match payments and process them to the correct accounts. TPS EFT SmartMatch removes that need and automates the process, providing a great return on investment.
TPS EFT SmartMatch joins the previously released TPS Platform modules for payment acceptance solutions that provide front-end payment capture capabilities and upload images and data directly to the TPS Platform for processing. TPS Remittance, for mailed-in payments, TPS Cashier, for walk-in payments which allows for straight-through processing, and consolidated receivables, and TPS Mobile, an easy to use mobile app that allows employees to accept payments at remote offices or in the field. The application uses the camera on smartphones and tablets to capture checks along with supporting remittance documents. Finally, TPS Archive provides a completely searchable and secure database of all transactions.
About RP Solutions, Inc.
RP Solutions delivers innovative technology solutions to businesses, third party processors and banks enabling them to streamline receivables processing, accelerate funds availability and reduce risk. The Company’s Transaction Processing Services (TPS) Platform leverages emerging payment technologies and cloud infrastructure to meet the evolving needs of companies today. Providing expert design consultation, hands-on implementation and exceptional support, RP Solutions is well known for delivering a superior customer experience. For more information please visit www.RPSolutions.com