Senior Functional Analyst,
[0:00] Krutarth Kousambi: Good morning everyone. We have quite an audience. It seems that everyone was drinking last night. Alright, so we'll start with the presentation. [0:14] Krutarth Kousambi: So this is a story, I became a full-time employee of Prime Source before six years and at that point in time, we had a decentralized credit and collections and from there we went into the decentralized model. It's the story that I'm going to share with you guys what kind of challenges we had and how we overcame it. [0:42] Krutarth Kousambi: So few things about Prime Source. We have 34 distribution centers. Prime Source is the largest building materials distributor in the United States. We have around 1200 employees. If you go to Home Depot and Lowes those are our biggest customers. You would see a lot of brands called GripRite, ProTwist, GR-X, those are all our products. So we have thousands of materials and you know, fasteners or insulation products, wiring products, fencing, all kind of building materials that you would see. [1:25] Krutarth Kousambi: So Prime Source's plan for AR transformation, right? This started somewhere before four years where we were in a decentralized operation for collections,…
HighRadius Collections Software automates and optimizes the credit & collections management process to improve collector efficiency, minimize bad debt write-offs, improve customer relationships, and reduce DSO. It provides a complete set of tools to optimize and automate the credit collections management process and enable the better prioritization of credit collections activities All the information you need (invoices, dispute information, POD, claims, tracking info, etc.) on each case is automatically presented in a collections work-space and is ready for use. Apart from the wide variety of benefits that it has, it also comes with some amazing features like CADE (Collection Agency Data Exchange), collector’s dashboard which has prioritized collections worklist, automated dunning & correspondence, dispute management, centralized tracking of notes, call logs & payment commitments along with cash forecasting functionalities. The result is a more efficient collections team that contributes to enhanced cash flow and reduced DSO.