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Automating Cash Application Across 11 ERP Instances To Upgrade Accounts Receivable

  • 94% Payments Applied Automatically to the ERP
  • 100% Deductions Auto Coded by the System
Cash Application
Business Transformation Stories
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Challenges
How did HighRadius help
Impact

Challenges With Cash Application

With 8 Million Payment Invoices And a Team of 9 Analysts, It Was Difficult to Apply Cash On Time

Being a distribution giant with over 150,000 customers in overall 8 branches with 22 different ERPs in play, applying cash was not easy. The overall cash application process of Wesco was complex as they had to deal with multiple payment formats like electronic funds, credit cards, checks, and numerous remittance sources. With just 9 analysts, it was a hassle to execute the manual tasks within the time frame impacting productivity and turn-around time. 

60% of The Incoming Payments Were Made Through ACH, Which Demanded For Huge Manual Efforts and Time

As most of Wesco’s payments were coming through ACH, it created a huge manual workload consuming time that could be spent on other strategically important tasks. They were receiving the remittance information through emails or web portals. They had to open every email or log in to the customer portal to obtain the remittance information.

Challenges With Collections

Duplication Of Work During Collections Process Negatively Impacted Customer Experience

With a manually driven Collections process and lack of prioritization of tasks, analysts within the team were stuck with redundant work. Their productivity and customer experience was taking a toll with the inefficient process in place.

Challenges With Credit

Lack Of Visibility Over Customers Credit Profiles Increased Risk of Bad Debt

Wesco was facing troubles when it came to executive visibility within their credit process. They needed a solution that could help them stay on top of  their customer portfolios giving them 360 degree visibility.

ABOUT WESCO

A world leader in B2B distribution and supply chain solutions with net sales of $18 Billion. Their businesses are centered around electronic solutions, security solutions, utility, and broadband solutions which are present across 53 countries.

INDUSTRY

Wholesale Distribution

REGION

North America

REVENUE

$18 Billion

PRODUCTS

Cash Application

How did HighRadius Help

Impact

Payments Applied Automatically to the ERP
Deductions Auto Coded by the System

Autopilot for Order to Cash

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