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Securing Zero-touch Payment Processing with End-To-End A/R Automation

Impact Achieved

Zero

Touch Payment Process

100%

Elimination of LockBox Keying-in Fee

Auto

Identification Reason Code Mapping of Deductions

“HighRadius cloud solutions have a plug and play operating model and are easy to integrate with SAP – the gaps and the needs are taken care of and they are more user friendly than any other vendor solution!”

Ellen Farish

Sr. Operations Manager Shared Financial Services

Southwire

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About Southwire

Southwire Company, one of North America's largest wire and cable producers enabled real-time cash application and automated deduction coding with HighRadius A/R automation

Region

NA

Revenue

$5.5B

Employee

7500

Top Challenges

  • Delayed Cash Application due to manual aggregation of remittance data across multiple sources like emails, EDI files & web portals.
  • Long work-hours spent in manual research & Deduction coding for the growing Deduction volumes.
  • Heavy OPex incurred due to expensive Lockbox keying-in services.

Business Benefits

  • Seamless Cash Application with automatic capture of payment information & remittance data.
  • Auto-Deduction coding & auto-linking of backup documents like PODs, BOL across multiple sources like emails, portals, TPM, etc.
  • AI-powered OCR engine to accurately capture remittance data from check stubs.

Explore More Transformation Stories

DXP Enterprises

83%

Automated Cash Application

100%

Deductions Automatically Coded by the System

The Clorox Company

80%

Automated Cash Application

224

Man-Hours Saved Per Month

33%

Reduction in Manpower

Yaskawa

5.5

Days Reduction in DSO

60%

Improvement In A/R Team Productivity

~90%

CEI Achieved