Retail Deductions Management for Dummies

Speakers

Tim Walker

Financial project Systems Manager,
Brightstar

Transcript

[0:00] Host: Right, I think it's time to kick off. So the first session of today is retail deductions management for Dummies. So, we have our presenter here today, Tim Walker. So a little bit about Tim. Tim has over 20 years of experience in the field of Finance. He worked with the Pepsi beverage company for more than 13 years. He is currently a financial product systems manager at Brightstar. And is the key person responsible for setting up the HighRadius collections, deductions, and EIPP solution. Great stuff. So, I shall leave you to the stage. [0:40] Tim Walker: Thank you. Morning. Okay. Just so you know, I did not come up with the title. I'm not calling you dummies. Starting out with a little bit of humor. [1:02] Tim Walker: Some of the pain points in processing deductions. Information gathered by numbers and Attain Consulting, so 10 to 15 minutes takes to dispute a claim on a customer portal. Average time over 1600 man-hours are spent claiming deductions on the retailer's websites. 90 days is the median time it takes to resolve a deduction and 87% of companies write-off at least some small-dollar deductions. Have you had that…

What you'll learn

  • Key factors that contribute to the challenges in handling retail returns deductions
  • Witness the perfect strategy to achieve zero auto write-offs
  • Learn how Brightstar achieved 65% reduction in FTE’s in the A/R team size along with lesser deductions
  • There's no time like the present

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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.