Accelerating Cash Application for 300K+ Invoices by Eliminating Outdated and Inefficient Processes

Impact Achieved

83%

Automated Cash Application

100%

Deductions Automatically Coded by the System

“The single biggest challenge that forced us to look at automation was the extent of manual intervention of our daily processes, whether it was cash posting or any undirected ability to collect on our customers, who to collect and when to collect.”

case-study-speaker

Joseph Grass

Director, AR and Credit

DXP Enterprises

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About DXP Enterprises

DXP Enterprises partnered with HighRadius to address their cash application challenges and enabled same-day cash posting with an automation rate of 83%.

Employee

2747(2019)

Revenue

$1 Billion

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Top Challenges

  • Manual aggregation of remittances for large volume of Invoices
  • Missing remittances for payments received leading to delayed cash application
  • Erroneous, excel-based deduction coding for 1000+ deductions monthly

Business Benefits

  • Automated invoice matching helped process the payments faster
  • AI-based Automated suggestions on missing remittance scenarios
  • Automated deduction coding to eliminate delay involved in manual reason code mapping

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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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Increase in Auto-Posting Rates

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Annual Savings In Actual Spends

70%

Decrease in Rolling Cash Unapplied

Yaskawa Case Study

5.5

Days Reduction in DSO

60%

Improvement In A/R Team Productivity

~90%

CEI Achieved