Xtracta’s Remittance Advice extraction 


Xtracta’s Remittance Advice extraction helps speed up the payment reconciliation process and assists Accounts Receivable teams to be more efficient 


Reconciling payments, especially from high-volume clients, can be a time-consuming and painful process. The use of remittance advice letters is increasing, as they provide businesses with proof that an invoice has been paid by a customer. Details in the payment remittance allow the business to check the payment was received and help improve communications between the client and supplier. While remittance advice documents can assist the accounts receivable team to a great degree, there is still a manual process to match payments to invoices in billing and accounting/ERP software. Xtracta’s automatic remittance advice document extraction can provide complete remittance data for payments within seconds of receiving a document, allowing an automatic reconciliation process to help assist receivables teams. 

Validate data and avoid time wastage 

Xtracta has numerous tools to ensure the data that is extracted is correct and complete, meaning less time spent reviewing documents for mistakes. Validation tools such as mathematical formula checks allow users to ensure that all line amounts have been correctly extracted and tools such as database lookups can validate that document results, such as invoice numbers, have been picked up from the document correctly. 

Ready out of the box 

Xtracta has pre-built data extraction models for Remittance Advice documents allowing the system to extract data with little or no training, and there is no need for time consuming setup for templates as often is needed in traditional document data capture software.  

Highly Scalable 

In many countries, it is common for there to be large influxes of payments and their associated remittance advice documents at different times of the month or year. This can cause huge burdens on receivables teams to process so much data in a short amount of time. Xtracta’s remittance advice extraction solution is highly scalable and can process many documents per second if needed. 

Complimentary documents supported 

When the remittance advice arrives alongside other documents – for example, checks, Xtracta can process all documents at once so that the data from each document can be recorded and allow for easier connection of transaction data. The documents can be uploaded together and using features such as document type detection and automatic document splitting, each document can be processed with relevant data extracted from each separate document. 

White Label and OEM support 

All of Xtracta’s solutions, including its remittance advice processing capability have been designed from the ground up to allow embedding inside of other software products such as billing, accounting, collections and ERP software. Find out more details here on the integration process and rebranding capabilities.