86% Straight-Through Processing for Checks: Automation Success Story of Lhoist

Speakers

James Robinson

Treasurer,
Lhoist North America

Alicia Geades

Sr Credit Manager,
Lhoist North America

Bernardo Aguilar

AP/AR Manager,
Lhoist North America

Transcript

[0:00] Anchor: Good morning everyone. How are you doing today? Did you guys join us for the party last night? [0:06] Anchor: Yeah, we got a full day of activity so let's get started. I do have a little joke for you guys in case you're not feeling the energy after last night. [0:27] Anchor: So with us today we have Lhoist. [0:32] Anchor: So we have James, the treasurer joining us today. We have Alicia, their credit manager, and Bernardo, the AP and AR manager. [0:43] James Robinson: Hey, good morning. [1:03] James Robinson: I'm James Robinson, I work with Lhoist North America. A little bit about Lhoist. It’s a 130-year-old company, family-owned out of Belgium. So, about 2.2 billion euros a year in revenue, so not a huge company. But you know, Fintech is for everybody. So even if you're not huge in a fortune 500 company, there are opportunities out there. So, we manufacture lime, which is mining limestone, and then signing it or burning it to make chemical lines, which is calcium oxide. So not a complicated process, but still an important one. It goes into your life every day. So it's used in power plant,…

What you'll learn

  • Lhoist’s cheatsheet for vendor selection in cash application automation
  • Top 6 implications of slow cash posting on business processes

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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 which 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.