Achieving 95% Straight-Through Processing for 1 Million Payments with Integrated Receivables


Julie Weaver

Vice President, Treasury Services,
Caliber Collision


[0:00] Julie Weaver: Welcome to the session 95% straight-through processing, we will detail today, Caliber’s journey through implementation of the HighRadius cash app module. I guess first of all, how many of you are currently using the cash app module? So how many are just prospects? Looking at the tool just learning? So probably the majority of you are in the latter group. And how many are implementing? We've got a lot, actually several, well good. And also another question, How many of you are cowboys tonight? And how many are aliens? Well, I'm going to be a cowboy. I'm from Texas. So Western wear was just sitting in my closet already, so pulled it out, and I'm good to go. So today for this session, we're going to talk a little bit about Caliber collision and our cash app process before implementation. We're going to then talk about key considerations, when we decided we needed some automation, the solution, the results, what Caliber looks like in 2020, and how the solution is there in place and the importance of human and machine collaboration. So first of all about Caliber Collision, we are America's largest Collision Repair Company. Our purpose…

What you'll learn

  • Learn how Caliber Collision saved 12 hrs per day in processing payments using IR
  • Learn how the elimination of transactional tasks, shifted A/R team’s focus on strategic goals
  • Learn about some of the cross-department benefits of cash application at Calliber Collision

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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.