March 31, 2014

How Johnson & Johnson Sales and Logistics Company Secured 95% Invoice Hit-Rate for their Cash Application Operations in 3 Months

Johnson & JohnsonCompanies today are challenged with processing payments from a large number of customers. In the absence of automation, this is a manual, repetitive effort that requires a large team to spend time on low-value, frustrating tasks. The manual nature of the work makes it difficult to quickly process payments and to reliably apply cash the same day as the payments are received. Most Enterprise Resource Planning (ERP) systems require heavy and expensive customizations for remittance parsing and advanced rules to get a high hit rate.

Learn how Johnson & Johnson Sales and Logistics Company automated their cash application process, driven by dynamic remittance processing templates and business rules in order to maximize their on-invoice hit rate and overall cash application process.

Hear Sandra Roth, Credit Manager at Johnson & Johnson Sales and Logistics Company, discuss how they were able to:

  • Dramatically decrease their operating costs with automated cash application
  • Automate remittance advice processing with dynamic remittance processing templates
  • Speed-up deduction resolution with deduction coding rules
  • Re-allocate resources to higher value-added activities
  • Deliver on time and on budget within three months
  • Achieve stellar ROI and fast payback with automation technology

Speakers:

  • Sandra Roth, Credit Manager, Johnson & Johnson Sales and Logistics Company 
  • Jay Tchakarov, Director of Product Management, HighRadius

Discover how you can effectively automate your cash application process - DOWNLOAD TODAY!

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HighRadius Cash Application Software enables the end-to-end automation of the cash application process that covers major benefits such as AI-enabled data capture for remittances, auto-linking of payments with open invoices, cost-cutting on lockbox fees, and easy compatibility with any system due to its ERP-agnostic Saas infrastructure. Apart from the major benefits that it has, there are some key features that can not be missed out, some of them are Email Remittance capture, Discounts and Deductions Handling, Check Remittance Capture, Web Remittance Capture, Invoice Matching, and RDC & Mobile Payments. Improve your efficiency with our order-to-cash templates such as - A/R Aging Report, DSO calculation excel template, A/R Dashboard excel template, credit scoring model for new customers, 21 Credit-collections email template, and Our Ebooks.