3-Ways to Improve Collections Effectiveness with Customer Data


Paul Watters

Worldwide Credit and Treasury


[0:01] Host: So here I have three ways to improve collections efficiencies with customer data of Paul Watters. So Paul moved to the US in 2015 to assume his current role as the director of Worldwide Credit and Treasury for Mercury Marine. Paul's been involved in the design and build of online credit applications currently utilized by the land and sea distribution business here in the US. More recently, Mercury has also commenced the implementation of the HighRadius payment portal and deductions cloud module. Paul, you have the stage. [0:36] Paul Watters: Thank you. Good morning, everyone. There's a reason why they say nothing good happens after midnight and I'm a testament to that this morning, but we will get along well. So what I want to talk to you about today are three ways that we can improve collection effectiveness with customer data. And you know, I think most of us will agree we've never been more awash with data than what we are today. [1:07] Paul Watters: The question is, how can we use that data to drive effective collections decisions and to make ourselves more efficient, and more effective. So today, we're gonna walk through looking at…

What you'll learn

  • 3 basic levers of a best-in-class collections strategy formed solely with customer data
  • Use case: 200% improvement in collections productivity with AI and machine learning

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HighRadius Integrated Receivables Software Platform is the world's only end-to-end accounts receivable software platform to lower DSO and bad-debt, automate cash posting, speed-up collections, and dispute resolution, and improve team productivity. It leverages RivanaTM Artificial Intelligence for Accounts Receivable to convert receivables faster and more effectively by using machine learning for accurate decision making across both credit and receivable processes and also enables suppliers to digitally connect with buyers via the radiusOneTM network, closing the loop from the supplier accounts receivable process to the buyer accounts payable process. Integrated Receivables have been divided into 6 distinct applications: Credit Software, EIPP Software, Cash Application Software, Deductions Software, Collections Software, and ERP Payment Gateway - covering the entire gamut of credit-to-cash.