Understand, Simplify, Automate

Saving $2 Million with Continuous Improvement

88% Reduction in No. Of Customers in Collections Worklist
56% Reduction in FTE
$2.5M Annual Recurring Savings

Cash Application Cloud

Collections Cloud

Deductions Cloud

Business Transformation Stories

With HighRadius, we have seen Financial Services costs decline by $2.5M while volume, quality and productivity increased.

Coleen Zdrojewski
Vice President – Financial Services
Dr Pepper Snapple Group

Challenges

How did HighRadius help

Impact

Challenges

Continuous training and retraining was required for analysts to stay up-to date with the high level of non-standardization in the process
There was a lot of hesitation from the team in adopting new processes
Majority of A/R correspondence was either mailed, or printed/scanned/em ailed manually
No centralized system for analyst to record notes on receivables transactions
No worklists incorporated to help analysts prioritize work across collections and deductions

ABOUT Keurig Dr Pepper

Dr Pepper Snapple Group Inc. is an American soft drink company, based in Plano, Texas and the #1 flavored carbonated soft drink manufacturer in the US .

INDUSTRY

Food and Beverage

REGION

North America

REVENUE

$11 billion

PRODUCTS

Cash Application Cloud
Collections Cloud
Deductions Cloud

Goals & Objectives

The biggest issue the teams faced was that they were strapped for time to cover all critical and important accounts. Hence, DPSG wanted a solution that could eliminate non value tasks through automation. They wanted a solution that could help them automate globally, with minimal need for constant revision and to be able to handle upgrades in the future without causing any hassles. They required centralized infrastructure and most importantly, a way to cut down on draining manual tasks

How did HighRadius Help

Cash Application

By leveraging technology to automate cash application, DPSG was able to save significantly on time and resources lost in remittance aggregation, payment remittance linking and cash reconciliation.

Global Solution: Implementation of a cloud-based Artificial Intelligence solution helps automate cash application across geographies and business units.
Zero IT Involvement: With maximum functionality built out of the box, teams are able to avoid time consuming interactions with internal IT teams.
Future Ready: Ability to handle virtually all remittance and payment formats helps avoid any costs for future upgrades and software updates.

Deductions Management

With the implementation of HighRadius POD and Claims Accelerator, DPSG was able to help analysts focus on the research.

Auto Retrieval of Backup Documents: Ability to pull claims and PODs from customer and carrier websites and emails could save over 30% of the analysts’ time.
Auto Attachment of Backup Documents: Auto linking of the documents to the deductions helps analysts focus strictly on faster research and resolution.

Collections Management

The biggest pain point faced by the Collections teams was that they were strapped for time to cover all critical and important accounts. Hence, DPSG wanted a solution that could eliminate non value tasks through automation.

Implementation of Collection Strategies:
Ability to deploy standard collection strategies across all collectors, means that the team is able to connect with the right accounts in a timely manner.
Automated Correspondence: Automating email and fax correspondence to less critical accounts significantly reduces the number of manual actions required by the collector, while reducing the size of the collector worklist.
Data based Customer Prioritization: Rich data based scoring of accounts helps collectors prioritize accounts thereby always focusing on important and at risk customers.
Visual Metrics: Easy to access reports and dashboards enable team leads and managers to quickly spot trends and take corrective actions.
Process Discipline: Applying a standardized protocol for different collection teams helps establish process discipline across operations