HighRadius Deductions Cloud enables a proactive deduction management operation. The solution streamlines processing, shortens resolution cycle time, reduces processing costs, and increases recovery rates on invalid deductions. A cloud-based solution available as Software-as-a-Service, Deductions Cloud is easy and cost-effective to deploy and maintain.
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HighRadius Deductions Cloud provides automation, process standardization, and a platform for cross-departmental and customer collaboration. The solution provides the most robust automation engine available to capture deduction data from customers and supply the information required for resolution. Backup documentation, such as and Proofs of Delivery (PODs), Bills of Lading (BOLs), are captured automatically and linked to the corresponding deductions to reduce manual research. Corresponding trade promotions are also identified and suggested for settlement. Workflow and automated correspondence engines streamline communication and the approvals process. The result is a proactive deduction management operation that recovers revenue normally lost to invalid deductions.
- Deduction Resolution Workflows ensure consistent processing and enable automated cross-departmental collaboration and resolution.
- Trade Promotion Settlement provides a centralized system to maintain, match, and resolve deduction line items (SKU-level) against trade promotions.
- Claims & POD Automation Engine aggregates and collects information such as proofs of delivery (PODs) from carrier websites and claims/debit memos/deal sheets from customer portals, websites, and emails.
- Correspondence Automation generates and distributes denial correspondence to customers based on account and deduction status and attaches supporting documentation per individual customer requirements.
- Increase deduction recovery rate by more than 10%.
- Reduce days deductions outstanding (DDO) by 30%.
- Free-up 20-40% of your resources’ time by automating manual activities allowing them to focus on higher value research & analysis.
- Limit upfront capital expenditure and minimize the need for internal IT involvement by using a “pay-as-you-use” SaaS solution with a monthly subscription fee.
How Hormel Foods Increased the Productivity of Their Deduction Analysts by 200% for Large Retail Customers
Kim Jensen, Manager of Support Services, Hormel Foods
Jay Tchakarov, AVP of Product Management, HighRadius Corporation