CPG Giant Automates Paper-Based Collections To Reduce Bad-Debt By 20%

Impact Achieved

27%

Reduction in Past Dues

20%

Reduction in Bad Debt

5 days

Reduction in (ADD)

6 days

Reduction in (DSO)

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About Staples Inc.

Staples Inc., a leading CPG company transformed its A/R landscape by digitizing its manual, paper-based collections with HighRadius Collections Software, along with reducing its bad debt by 20% and a reduction in past dues by 27%.

Region

North America

Revenue

$8 Billion

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Top Challenges

  • Team of 7 collectors struggling with 900-1000 accounts individually, leading to immense workload
  • Paper-based aging & manual prioritization of all customer accounts
  • Collectors had to manually track & update invoice-related information from 20 different customer portals

Business Benefits

  • Correspondences are generated and sent out automatically, reducing the daily activities of a collector
  • Auto-prioritized worklist helped them to fast track their collections, saving valuable man-hours
  • Touchless dunning to streamline collections process & enable 360-degree view of customer portfolios
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