Saving $84000 in annual lockbox fees by automating the Cash Application process

Impact Achieved

85%

Automation For checks and ACH

$84K

Savings In annual lockbox fees

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free Same-day Posting for 25,000 Invoices

The choice was between using technology versus throwing people at cash application. We chose the former for better results at lower costs.

case-study-speaker

Angela Richards

Accounts Receivable Director

Express Services Inc

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About Express Employment

Express Employment achieves same-day payment posting with 85% automation for check and ACH payment.

Employee

250+

Revenue

$3.1 Billion

Geography

NA

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Top Challenges

  • 100% Manual ACH Payment Processing
  • High costs and A/R team continues to do the heavy lifting
  • Manual remittance download and data capture

Business Benefits

  • Solution provides customization to handle specific business needs using artificial intelligence-based algorithms
  • Cloud-based SaaS solution integrates seamlessly with the system
  • Pay-as-you-go models allow businesses to pay for only what they are using

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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

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Decrease in Rolling Cash Unapplied

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Increase in Overall Productivity

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Faster Dispute Resolution

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Reduction in Open Deductions