Ivanti is a Utah-based IT software company that connects industry-leading unified endpoint management, zero trust security and service management solutions to provide a single pane of glass for enterprises to secure and heal devices, and service end users.
“The system did all the heavy lifting; it was reaching out to every customer. And it was pretty amazing, to see all these customers reaching out, wanting to pay bills, wanting to get it resolved, instead of my people having to hunt them. Didn’t matter what amount was the invoice, everyone was getting contacted.”
-Tony Hiatt, Global Credit Manager, Ivanti
Completely Manual Processes
Over 50% of the analyst’s time was spent just dialing for dollars, writing emails, and dealing with escalations.
Limited Visibility into End-To-End Processes
Ivanti did not use any form of centralized repository for tracking reminders, emails, notes, or P2Ps. There was also no visibility for Csuite members to analyze the performance of their business units. These reports also had to be generated manually.
No Standardized Strategy for Work List Prioritization
With no customer prioritization list in place, Ivanti lacked focus on strategizing accounts, which impacted the entire receivables aging.
Cultural and Language Barriers
With customers present worldwide, Ivanti faced issues with conforming to the local norms of correspondence.
Automated Capture and Recording of Customer Calls, Notes, and Peer-to-Peer (P2P)
The solution pulls and stores information from calls, emails and other correspondence, saving analysts’ time for more critical tasks.
AI Driven Prioritized Work Lists
The solution used AI to provide accurate predictions of customers’ payment commitments and used that information to create worklists for analysts to use, filtering customers by risk.
Auto Extraction of Invoices and Tracking
The solution helps extract information and invoices from correspondences directly and provides real-time tracking insights into payments.
With dashboards recording performance, the solution helped Ivanti track critical metrics like the KPIs of employees.
Easy Access and User Friendly
The solution is intuitive, making it easy to use and provides user support in multiple languages.
ShurTech Brands, LLC, markets do-it-yourself tapes, office and housewares products. The company is a subsidiary of Shurtape Technologies, LLC, Hickory, N.C., an industry-leading producer of pressure sensitive masking, duct, packaging and specialty tape products, with facilities in the United States, Canada, United Kingdom, Germany, Mexico, Peru, United Arab Emirates and China.
“We started seeing immediate results upon implementation: 100%+ efficiency gain!”
-Marinko Marijolovic,Director Corporate Credit Services, ShurTech
Slow Output and poor Customer Experiences
ShurTech had a credit and AR team manually handling all processes including collections and deductions. With the expanding business and mounting receivables, manual efforts did not yield the best results.
Claim and POD Backup Automation
The solution pulls claim and POD information from customer and retailer websites as well as emails and paper documents.
Based on the resolution outcome, analysts are able to automate denial and approval correspondence to the customer.
Deduction Resolution Workflows
The solution provides a structured workflow for approvals or any inter-department collaboration.
Prioritized Collections and Strategy
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 with templates.
Increased Managerial Visibility
All collector activity could now be recorded in a single place versus using notepads and spreadsheets.
The American subsidiary of Japanese Yaskawa Electric Corporation, Yaskawa is the world’s largest manufacturer of AC Inverter Drives, Servo and Motion Control, and Robotics Automation Systems.
“With the kind of growth we were experiencing, with the demand for better cash flow and zero budget for additional headcount, we understood that without automating it was very difficult to attain our goals.
-Elizabeth Chamorro, Credit Manager, Yaskawa America Inc
The Impact On AR
SAP FSCM Implementation
Automated Correspondence Accelerator
J. Keller & Associates, Inc. is a publisher and service organization, providing a wide spectrum of regulatory and information products and services to customers regulated by the Department of Transportation, Occupational Safety and Health Administration, and more than 300 state agencies.
“We have come a long way with HighRadius. They have really helped us with the manual work and with the business growing, that’s definitely helping us to move forward.”
-Vicky Klassen, Credit and A/R Manager, J.J. Keller
EBSCO Information Services is the leading provider of information resources for institutions including discovery, journal and e-package services, research databases, e-books and more.
EBSCO already had an effective cash application process in place with multiple business process improvement consultants helping us out. It was difficult to imagine that any provider could improve that beyond what it already was.
-Carolyn Etress, Director of Accounts Receivable, EBSCO
Manual Processing of Electronic Payments
Manual Deductions Identification and Coding
Custom Configurations to Meet Business Requirements
The automated solution enables customizations to handle specific business needs using artificial intelligence-based algorithms. Complex cash application issues such as remittance with non invoice reference numbers or truncated invoice numbers, payments made by alternate payers, cross ERP cash postings, payments made by a parent company for multiple child business units, and buyer group payments can be automated by custom configurations.
Ease of Use and Scalability of SaaS Solution
The cloud-based SaaS solution integrates seamlessly with the system and works with minimal intervention on a plug-and-play model with the existing process and near-zero dependence on the internal IT team.
Automated Deductions Coding
The cash application solution identifies and auto-creates deductions, captures deduction information such as claim number and reason codes, and maps customer reason codes to ERP specific reason codes.
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The HighRadius RadiusOne AR Suite is a complete accounts receivable’s solution designed for mid-sized businesses to put their order-to-cash on auto-pilot with AI-powered solutions. It leverages automation to fast-track key accounts receivable functions including eInvoicing & Collections, Cash Reconciliation, and Credit Risk Management powered by RadiusOne AR Apps to improve productivity, maximize working capital, and enable faster cash conversion. Affordable, quick to deploy, and functionality-rich: it is pre-loaded with industry-specific best-practices and ready-to-plug with popular ERPs such as NetSuite and Sage Intacct. The HighRadius RadiusOne AR Suite is designed to automate labor-intensive processes while streamlining credit and collections activities for faster AR processing, better cash flow and improved profitability.
Lightning-fast Remote Deployment | Minimal IT Dependency Prepackaged Modules with Industry-Specific Best Practices.