Intuitive Surgical's Path to Cash Application Excellence | HighRadius

Kickstarting Global Finance SSC Transformation With Cash Application Automation

Impact Achieved

100%

Increase in Auto-Posting Rates

230K+

Annual Savings In Actual Spends

70%

Decrease in Rolling Cash Unapplied

30%+

Annual Bank Fee Reduction

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About Intuitive

Intuitive, a leading American Pharmaceutical company, started their A/R transformation with Cash Application automation while expanding as a global finance shared service function to achieve 100% cash posting rate.

Region

North America

Revenue

$5 Billion

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Top Challenges

  • “True no-touch” cash posting rates were below expectation, generating consumer dissatisfaction.
  • Inaccurate tracking of metrics and reports hindered visibility and executive supervision on day-to-day tasks.
  • Manual research & deduction coding were time consuming and drove an increase in FTEs.

Business Benefits

  • 100% touchless cash posting even in the case of exceptional scenarios, missing data & unfamiliar payment formats.
  • Extensive Reporting capabilities to help analyze the productivity of the Cash Application team
  • Automated Deduction coding & remittance match to save time on research
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Automated Cash Application

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Man-Hours Saved Per Month

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Reduction in Manpower

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ResMed

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Cash Posting Hit-Rate

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Deductions auto-coded

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33 Days reduction in DSO

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94%

payments applied automatically to the ERP

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deductions auto-coded

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of total payments managed through one system

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