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Error-free, Same-Day Posting For Over 25,000 Invoices A Week

  • 85% Automation For checks and ACH
  • Stabilized team headcount growth
  • $84,000 Savings In annual lockbox fees
Cash Application Cloud
Business Transformation Stories

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

Angela Richards
Accounts Receivable Director
Express Services Inc
Challenges
How did HighRadius help
Impact

Challenges

  • Keying-in Outsourced to the Bank
    High costs and A/R team continues to do the heavy lifting. The process is also delayed because lockbox data comes in batches.
  • 100% Manual ACH Payment Processing
    • No support from banking partners and other vendors for ACH payments.
    • Remittances de-coupled from payments with multiple remittance sources including emails, customer websites, and EDI files.
    • Manual remittance download and data capture leads to incorrect data entry with 16-20% of payments not having accompanying remittances.
  • Criteria for Choosing a Solution
    • Avoid continuous onboarding of new resources
    • Stabilize man-power requirements to handle seasonal spikes in incoming payments
    • Leverage a single process for both checks, ACH as well as any future payment formats
    • Eliminate the time/productivity lost in working with missing/incomplete remittance information
    • Lower lockbox costs: Roughly $7053.50/month was spent on keying-in charges
ABOUT Express Employment

One of the ten largest staffing companies in North America, Express Employment has more than 770 franchise locations throughout the U.S., Canada, and South Africa. They have helped over 60,000 client companies employ more than 510,000 associates in 2016.

INDUSTRY

Staffing & Recruiting

REGION

North America

REVENUE

$3.4 Billion

PRODUCTS

Cash Application Cloud

How did HighRadius Help

Custom configurations to meet business requirements

The solution provides customization to handle specific business needs using artificial intelligence-based algorithms. Complex cash application scenarios such as remittance with non-invoice reference numbers or truncated invoice numbers, payments made by alternate payers, cross ERP cash postings, payments made by parent company for multiple child business units, and buyer group payments are automated with custom configurations.

Ease of use & scalability of SaaS solution

The cloud-based SaaS solution integrates seamlessly with the system and works with minimal intervention on a plug-and-play model with the existing process and near-zero dependence on the internal IT team. Users can scale the services to fit their needs and enjoy a subscription-based service that’s kind to their cash flow since pay-as-you-go models allow businesses to pay for only what they are using and not pay heavily for unused licensing.

Minimal IT involvement and investment

The cloud-based SaaS solution integrates seamlessly with the system and works on a plug-and-play model with minimal intervention in the existing process and near-zero dependence on internal IT team.

Impact

Automation For checks and ACH
$84,000 Savings
Stabilized team headcount growth

Autopilot for Order to Cash

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