FTNI Adds New Enhanced Document Processing Technology to Its ETran A/R Automation Platform

Leading Provider of Accounts Receivable Automation Software Announces New AI-Powered Document Processing Module to Help Companies Automate Manual Remittance Data Capture and Cash Application Operations.

OMAHA, Neb. September 11, 2024 — Financial Transmission Network, Inc. (FTNI), a provider of industry-leading accounts receivable (A/R) automation, payment processing and cash application solutions, today announced new Enhanced Document Processing (EDP) solutions within its ETran integrated receivables platform.

ETran’s new EDP module delivers businesses with the ability to scan or electronically upload remittance documents along with payments into the ETran platform to automatically capture pertinent invoice and remittance data from those documents.

Utilizing Artificial Intelligence (AI) to read and extract data from semi-structured remittance documents, ETran’s EDP module helps organizations eliminate the error-prone and time-consuming process of manual data entry from remittance documents. All required remittance data captured from the documents is automatically populated within ETran’s configurable ledger columns based on businesses’ unique cash application specifications.

Already in use by industry-leading distribution, utilities, and financial services providers, FTNI’s Enhanced Document Processing technology has been proven to help automate the capture, processing and application of data from complex and non-standard remittance documents, reducing manual processes by as much as 95%. The use of AI within the solution captures required data with very high accuracy, and much more efficiently than manual processes. What’s more, once remittance data has been captured, unique business rules can be configured within ETran to bring even greater efficiencies to internal A/R processes and workflows

“For many companies and A/R departments, reviewing and manually capturing remittance data off non-standardized or semi-structured remittance documents is one of the most time-consuming, error-prone, and costly pieces of the entire A/R lifecycle,” said Michael Thompson, vice president of operations, FTNI. “ETran’s EDP solutions help our customers harness the power of AI to more efficiently—and more accurately—capture remittance data to streamline and automate data extraction, payment processing and cash application operations.

Used by leading companies spanning numerous industries across the U.S. and Canada, FTNI’s ETran platform is a highly-configurable, cloud-based, modular platform that enables organizations to streamline and automate the complete A/R lifecycle—from invoice/statement presentment, to payment acceptance, remittance data capture and ultimately, cash application operations. ETran’s agnostic, ‘plug-n-play’ nature works with existing banking and merchant processor relationships and supports efficient integration in either batch or real-time with any back-office system to deliver true straight through processing.
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About FTNI

Financial Transmission Network, Inc. (FTNI) accelerates the way businesses accept, process, post and manage payments. Processing millions of transactions monthly, FTNI’s accounts receivable automation platform, ETran, accepts any payment method, via any payment channel—all on a single, secure, cloud-based platform. ETran seamlessly integrates current business processes, bank and merchant processor relationships, and back-office systems to modernize and automate payment processing and cash application operations. Founded in 2007, FTNI serves more than 20,000 corporate users from over 1,000 customers spanning numerous industries including Banking and Financial Services, Distribution, Insurance, Nonprofit, Property Management, Realty, Utilities, and more. For more information, visit ftni.com.

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