20% Reduction in Bad Debt

Collections Automation Journey with Artificial Intelligence

  • 27% Reduction in Past Dues
  • 5-6 Days Reduction in DSO
  • 8% Reduction in 60+ Days Aging Bucket
Collections Cloud
Business Transformation Stories
Video Testimonial
Challenges
How did HighRadius help
Impact

Challenges

The team size at Staples consisted of 12 people, with 2 people handling Cash Application while the rest managed Credit and Collections. The work division across Staples had 7 collectors managing 900-1000 accounts on an average individually, with aging buckets ranging up to 1000 days and they had to gather information from 20 different Customer Portals.

7 Collectors Struggling with 900-1000 Accounts Individually

These accounts comprised mainly multiple parent-child scenarios which further complicated the situation due to lack of visibility across critical accounts and minimal transparency across the ones that were outsourced.

Paper-Based Aging & Manual Prioritization

Everything from aging to strategizing, prioritization to call notes was restricted to a single piece of paper

  • A report was generated at the beginning of every month to prioritize all the accounts
  • Dollars were stuck in 1000+ days aging buckets: making them all the more difficult to recover
Manual Invoice Tracing from Customer Portals

Collectors were stuck with manually tracking missing invoices and updating invoice-related information
from 20 different customer portals leading to lesser productivity.

Goals & Objectives

Freedom From the Paper-Intensive Work

Staples wanted to break away from manual correspondence with the help of automation to reduce the
daily workload of their analysts, and eliminate the need for making notes or strategies on paper.

Increased Productivity And Efficiency

They wanted a way to automate low value tasks and incorporate worklists so they could have analysts focus on higher priority or strategic accounts. This would also help to centrally keep track of activity of high-risk and other customers.

Corporate Goal Alignment

They wanted to bring down their DSO and bad debt

ABOUT STAPLES

Staples is The Work Life Fulfillment Company, helping businesses of all sizes be more productive, connected and inspired — however and wherever they work today. With dedicated account teams, category professionals, innovative brands and a curated product assortment for business, Staples provides customized solutions to help organizations achieve their goals.

HEADQUARTERS

Framingham, Massachusetts

INDUSTRY

Business Supplies and
Equipment

REGION

North America

REVENUE

$17.9 billion

PRODUCTS

Collections Cloud

How did HighRadius Help

Collections Management
George Uko

Our CFO’s objective was the reduction of Bad Debt by 20%, while the management wanted to maintain a similar ROI, with 2 FTEs retiring.

George Uko
Manager Credit and Collections
Staples

Impact

Reduction in DSO through
AI-enabled collections
Reduction in past dues
Reduction in 60+ days aging buckets

Autopilot for Order to Cash

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