How Compass Group achieved 85% Auto-Clearing using Highradius Cash Application Cloud

Speakers

Karen Miller

Director, Treasury,
The Compass Group

Erica Peters

Sr. AR Supervisor,
The Compass Group

Peter McElearney

Product Manager,
The Compass Group

Christie Mosley

A/R Systems Analyst,
The Compass Group

Transcript

[0:00] Karen Miller: We would like this to be an interactive session. For us, we're here to pass along information. So if you have questions, please raise your hand one of the four of us should be able to answer the question. Ideally, we're here to share our knowledge base. So with that, I'm going to go ahead and turn it over to Peter to talk about the AR landscape. [0:18] Peter McElearney: Thank you, Karen. Hi, I'm going to talk first, a little bit about the AR landscape, and also about the three major problems that the landscape provided us before we were before our initial implementation of HighRadius. As Karen mentioned, our corporate offices are in Charlotte, North Carolina. And from those offices, we have a centralized support team that supports all of our units across the states. That team is broken down into two functions, a smaller group of which does payment receipts and the initial application through HighRadius and then that post-processing to get everything loaded to the sub-ledger. And then we have a larger team that works through discrepancies for research and resolution and gets things applied before write off. What's a little bit non-standard…

What you'll learn

  • Learn how Compass Group achieved 85% Autocash rate, Improved SLA’s, Enhanced Role Alignment and Increased Application Productivity using HighRadius solutions
  • Understand the top 3 key strategies to fast-track your implementation process

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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.