Smart AI-driven cash application

Automated AR reconciliation in one flexible system, with final control over all processes.

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$120K+

Saved annually on interest payments

18%+

Cash invested in interest accounts

25+

Operational hours saved per week

Reduce 50% of the time spent on manual AR reconciliation work

Take off the extra steps of uploading bank statements, searching through invoices and creating matches. Panax’s AI-driven algorithms generate customer payments by automatically matching transactions to their corresponding invoices.

Identify invoices and match them automatically, even with complex use cases

The Panax platform automatically identifies multiple invoices paid by one transaction. Even in cases with different customers included on the same payment, Panax’s matching algorithms will suggest the correct match.

Automatically keep your books up to date

Once you approve the Panax suggestions, all customer payments are automatically posted back to your ERP, without any further action needed on your part.

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Transform Cash Management, Unlock Growth

Streamline cash forecasting, mitigate cash risks, and gain actionable insights to drive smarter financial decisions.

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Frequently Asked Questions

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Cash Application

What is accounts receivable reconciliation?

Accounts receivable reconciliation, also known as cash application, is when you match outstanding customer invoices with the money received. This process ensures all payments are recorded and accounted for correctly in the company’s books. Reconciliation is essential for keeping accurate financial records and to correctly assess and manage cash flow.

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How to run accounts receivable reconciliation

Maintaining a healthy cash flow is essential for any company. To achieve this, finance managers must master accounts receivable reconciliation (ARR)—matching the figures of unpaid customer billings to the accounts receivable total reported in the general ledger. With ARR, also known as Cash Application, your business can produce accurate financial reporting, enhance cash management, and make informed strategic decisions.ARR also helps businesses with:

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Does cash application in Panax feed data back into the ERP?

The generated payments in Panax, following review and approval, are automatically posted in the ERP, so your ledgers are up to date.

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How does Panax automate cash application?

Panax automates cash application by matching collections with open invoices based on pre-defined rules as well as AI algorithms, such as invoice number, amount, and customer details. Automated matching reduces manual work and minimizes errors.

How does Panax’s cash application module work?

Cash application in Panax refers to the process of generating payments by matching collections with outstanding customer invoices, ensuring accurate and timely application of cash to reduce days sales outstanding (DSO) and improve cash flow visibility.

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"Panax streamlined our access to our global bank accounts. With Panax we have clear visibility into each hotel, understand cash flow cycles and make sure each hotel is funded to a sufficient level. Having this access in one portal has enabled us to move quicker and maximize liquidity"

M. Asulin

Head of Investments

"I love Panax's waterfall cash report. I use it daily."

D. Tal

VP Finance

"Panax’s proactive alerts and improved visibility, enabled us to increase our invested cash by $5.5m, which equals over $250k in interest income annually"

H. Shemesh

VP Finance

"Using Panax saves my team many hours of manual work and errors and gives me the insights I need to understand our cash trends and take proactive decisions."

O. Chereshniya

CFO

"Seeing everything in one place and getting proactive alerts and trends has been a game-changer for our cash management processes."

N. Bar

Finance Director

"Panax enables us to optimize our cash management and maximize the total yield we gain on our liquidity."

M. Moore

VP Finance