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Simplifying 3-Way Payment Matching And Saving On 62% Outsourcing Costs With Cash Application Automation

Impact Achieved

80%

Auto-cash posting
Hit Rate

100%

Elimination Of
Lockbox Fees

62%

Reduction in
Outsourcing Costs

47%

Reallocation of FTEs to other strategic tasks

HighRadius meets the business needs that we have. It’s been a great journey. So far, we’ve had wonderful experiences working with the HighRadius team to support our needs.

Semira Jusic

Director, Credit and Collections

EmployBridge

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About EmployBridge

EmployBridge, a global leader in Industrial Staffing, automated its cash application process to achieve an 80% hit-rate by securing an effortless 3-way payment matching mechanism while saving on outsourcing costs.

Employee

1,001-5,000

Revenue

$3.1+ billion

Geography

NA

Top Challenges

  • Various disparate systems across multiple BUs built inconsistencies among teams.
  • A tedious and error-prone 3-Way match led to delayed cash posting.
  • Expensive Lockbox keying-in services inflicted heavy OPex.

Business Benifits

  • A scalable and ERP-agnostic solution to secure acute visibility and uniformity across all BUs.
  • A simplified, custom defined 3-Way match to prevent delayed cash-posting cycles.
  • AI-powered OCR engine to accurately capture remittance data from check stubs.

Explore More Transformation Stories

Intuitive Surgical

100%

Increase in Auto-Posting Rates

230K+

Annual Savings In Actual Spends

70%

Decrease in Rolling Cash Unapplied

WESCO

94%

Payments Applied Automatically to the ERP

Increased visibility into customer remit across the organization

Increased Productivity due to Reduction in Overtime

Express Employment

85%

Automation For checks and ACH

$84K

Savings In annual lockbox fees

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free Same-day Posting for 25,000 Invoices