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Transforming Cash Application to Achieve 82% Automated Cash Posting - The EBSCO Way

Impact Achieved

82%

Automated Cash Posting

72%

Deductions Auto-Coded

33%

Resources Reallocated to Higher Value Tasks

100%

Elimination of Lockbox Fee Saving $64,000 Annually

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ABOUT EBSCO

EBSCO, an American media & publishing company automated its end-to-end payment processing with HighRadius and achieved a hit rate of 82% in cash application, enhancing its overall customer experience.

Employee

6000

Revenue

$2.8 Billion (2017)

Geography

NA

Top Challenges

  • Huge manual workload with just 6 analysts executing the entire process.
  • Missing remittances for payments received leading to delayed cash application.
  • Slower processing of credit card payments negatively impacting customer experience.

Business Benifits

  • Automated invoice matching helped process payments faster.
  • AI-based remittance prediction for missing remittances resulting in faster cash posting.
  • A self-service payment portal eased credit card and ACH payments for customers.

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ResMed

96%

Cash Posting Hit-Rate

100%

Deductions auto-coded

33

33 Days reduction in DSO

TCL Corp

97%

Invoice level Hit Rate for Cash Allocation

73%

Deductions Auto Coded

100%

Elimination of Bank
Lockbox fees

American Greetings

99%

Automated Cash Application

96%

Check Level Hit Rate

62%

of Targeted End-Users adopted EIPP