Simplified Cash Application at LifeStraw with RadiusOne

Impact Achieved

95%

hit-rate on transactions (at item level)

75%

increase in employee productivity

We had a very lengthy cash application process. There was a large backlog of cash application that would date back a week or a month. It never really seemed to happen real time.

case-study-speaker

Dan Luipersbeck

CFO

LifeStraw

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About LifeStraw

LifeStraw , a manufacturer of water filtration and purification devices, leveraged the HighRadius Cash Application automation to achieve 98% straight-through cash posting.

Employee

50+

Revenue

$5Million

Geography

NA

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Top Challenges

  • Time-consuming and inefficient cash posting, as a result of manual cash application.
  • Delayed cash application due to manual aggregation of remmitances from multiple sources.
  • Inefficiencies in the Order-to-Cash process as the team was not able to track the invoice and payment status.

Business Benifits

  • Saving numerous person-hours with auto-identifcation of the right account and invoices to apply cash.
  • Minimize time and resources lost in manual remittance aggregation by automating remittance data aggregation from multiple sources.
  • The solution helps extract information and invoices from correspondences directly and provides real-time tracking insights into payments.
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