The Past, Present and The Future Of Trade Deductions Automation: Lessons For A/R Industry Leaders

Speakers

Kimberly Erickson

Founder/Principal Consultant,
Optimize Consulting

Transcript

[0:00] Host: Good morning, everyone. Our last session before lunch, right? I'm excited about lunch. I heard we got some good stuff going on. Okay, so today we have Kim Erickson with us from Optimize Consulting, right? Yes. And then she's gonna be speaking a little bit about deduction automation. So without further ado, I'll hand it over. [0:26] Kimberly Erickson: Thank you very much. And especially because there's a number of sessions always going via currently, right? So it's hard sometimes to make a decision about where to be and what to do. So I appreciate you being here. And one of the reasons why I think this is such an important topic is because of course, it's a trade and each of the clients that I have helped and also from where I began, this is by far the largest challenge that we face because it's consumed so much of our analysts times, and our team's time to do it. And there's so many data points and touchpoints. It makes it challenging. I think probably if I was to pick one thing that I'd really like to impress upon you if you don't have it already, it is…

What you'll learn

  • Understanding the current automation features available for trade promotion settlement
  • The Vision for what trade promotion management could be transformed into by 2020
  • There’s no time like the present

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    HighRadius Deductions Software acts as a powerhouse for proactive deduction management to prevent bottom-line erosion. It provides automation, process standardization, and a platform for cross-departmental and customer collaboration. It supports deduction management by providing some key features like back-up document capture which captures deduction data from customers and supplies the information required for resolution; auto-capture proofs of delivery (PODs), bills of lading (BOLs) from carrier portals & emails; structured deduction resolution, collaboration & approval workflows to streamline the communication and approval process; along with automatic deduction correspondence, and automatic data push to customer portals. The result is a proactive deduction management operation that recovers revenue normally lost to invalid deductions.