Remit and Deposit Management
Manage Claim Deposits and Eliminate Manual Bank Reconciliation
Historically, reimbursement deposit management has been mostly a manual and time-consuming process, requiring providers to wait for each bank statement to arrive and manually reconcile each remit. Re-association takes multiple resources, and missing deposits or remits can take hours to resolve. CRYPTON’s Remit and Deposit Management solution provides up-to-date banking information so you can quickly and accurately post payments. The solution automates the remit and deposit management process by offering a direct connection to a provider’s banking accounts to save time, reduce days in accounts receivable, and improve cash flow.
Leverage a Single Point of Reference for all Payment Information
CRYPTON Remit and Deposit Management solution provides a centralized location for all your payment information, allowing you to upload banking spreadsheets to the CRYPTON portal even when using more than one bank. The reimbursement deposit and remit management solution then automatically matches deposits to remits that have been received. CRYPTON matches continuously in real-time and provides pre-reconciled download files for auto-posting.
Easily Manage Payment Exceptions
CRYPTON’s Remit and Deposit Management solution provides a remittance deposit management work center where unmatched deposits are exposed so you can easily research missing remits and enrollments and create matches between deposits and payments. Potential matches are displayed for each unmatched deposit so users can verify whether a match can be made. CRYPTON’s Remit and Deposit Management solution also constantly checks for matches as new remits are received in the system. In addition, the remit and deposit management solution provides a centralized research location for posting groups.
Gain Insight into Receivables and Cash Flow
With CRYPTON’s Remit and Deposit Management solution, gain greater visibility into your cash flow. The reimbursement deposit management solution helps you avoid inaccurate accounts receivable caused by a failure to identify missing remits. It also helps prevent posting prior to receiving money in the bank.