13% Past-Due Reduction and 5-Day DSO Improvement

Impact Achieved

84%

Collections
Efficiency

13%

Past Due
Reduction

95%

Reason Code Automation

96%

Net Recovery
Rate

HighRadius has made a huge difference in our collections, cutting the difference in best possible vs. actual DSO from 11 days to 6, and we’re aiming for 5 days long term. The auto-linking of notices has been a game-changer, dropping our aging percentage from 22% to just 9% in a year. The on-demand reporting is a lifesaver for our VP of Finance, giving instant insights into deductions and making our operations much smoother and more efficient.

case-study-speaker

Regan Carlton

Invoice to Cash Associate Manager

Lodge Cast Iron

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About Lodge

Lodge Cast Iron is America's largest and oldest manufacturer of cast iron cookware, specializing in heirloom-quality cookware and accessories since 1896. Backed by over 125 years of experience, the product catalog includes over 200 items, sold globally.

Region

United States

Revenue

$102 Million

No. of Employees:

550+

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Top Challenges

  • The lack of automation led to the reliance on manual methods for sending out dunning notices.
  • Difficulty in reaching out to a wide base of customers due to the manual effort.
  • Significant revenue leakage due to insufficient tracking, primarily attributed to manually-handled deductions.

Business Benefits

  • Prioritized collections worklist based on defined parameters and bandwidth-based work allocation.
  • Automated identification of short payments and 96% success rate in net recovery rate for invalid disputes with AI.
  • Increased DSO efficiency by 5 days with 13% reduction in past dues.
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