America's Largest Staffing Company Saves $350K in Payments Processing in a Year

Difficulty in Managing $3.3 Billion in Collective Transactional Activities in 2 Separate Erp Systems

EmployBridge and Select Staffing, two of the top global staffing companies merged to serve a broader base of customers with an expanded suite of services, wider geographic reach and enhanced professional opportunities for the combined team.

These two staffing giants were managing $1.3 billion and $ 2 billion in transactional activities in 2 ERP systems (Lawson and iSearch), respectively.

Manual Identification of 27k Payments From 15 Bank Accounts in 3 Financial Institutions

The cash application process at EmployBridge was completely manual and managed by a combination of large in-house and overseas teams. The manual process of managing 27,000 monthly payments from 15 bank accounts in 3 different financial institutions was cumbersome, to say the least. The complicated process had an adverse effect on the scope of credit management, collections, and client interface. Cash was not applied on time, there were delays in credit approval, dunning notices were being sent to clients who had already paid and clients complained of poor customer experience.

Due to the nature of their business, each of EmployBridge’s customers had multiple invoices open against them at any point in time. EmployBridge was found it difficult to close these invoices due to manual workflows and dated legacy systems. Unstructured input of data in different formats from varied geographies further added to the complexity.

EmployBridge was paying huge lockbox fees and keying in costs to the banks, and the process was not cost-effective. Moreover, there was a constant need to review and resolve numerous exceptions as the manual process was error-prone.

Employbridge Needed a Cloud-Based Solution to Boost Process Efficiency

EmployBridge was looking for a strategic solution that could help them boost process efficiency and drive cost savings. They were looking for a cloud-based solution that could seamlessly integrate into a plug-and-play model, with minimal intervention to the existing process and near-zero dependence on their internal IT teams. HighRadius Cash Application Software was a perfect match for their requirements.