Mark Harrison, Founder & CEO, Callisto Grand
Sam Dhingra, Director Solution Engineering, HighRadius
Buying and Implementing Technology for Treasury Professionals
We started seeing immediate results upon implementation: 100%+ efficiency gain!
Like numerous global organizations, ShurTech had a Credit and A/R team manually handling all processes including collections and deductions. Yet, with the expanding business and mounting receivables, this manual effort could not yield the best results. With a lack of prioritization and a policy of writing off any deduction below $250, the Credit and A/R team of ShurTech was at an impasse. The major issues faced by the team:
ShurTech Brands is a subsidiary of Shurtape Technologies, an industry leading producer of pressure sensitive masking, duct, packaging, and specialty tape products, with facilities in the United States, Canada, United Kingdom, Germany, and Mexico.
The solution is able to pull claim and POD information from customer and retailer websites as well as emails and paper documents. It is also able to link the documents to the relevant dispute cases.
Based on the resolution outcome, analysts are able to automate denial and approval correspondence to the customer.
The solution provides a structured workflow for approvals or any inter-department collaboration. It ensures consistent processing and enable automated cross-departmental collaboration and resolution.
Using an automated prioritization system meant that collectors could receive algorithmically generated account lists to collect from based on standardized rules and strategies.
Collectors could focus on calling high-value or high-risk accounts while automating the bulk of the dunning through pre-defined templates and rules via email, fax, and mail.
All collector activity could now be recorded in a single place versus using notepads and spreadsheets. This provided a consolidated view on the work done by collectors on different accounts.
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