Automate Cash Posting for Remote Deposits with Mobile RDC


A $55 Billion Wholesale Company

Learn how a $55.3 Billion wholesale company leveraged mobile RDC to achieve 85+% automation for processing remote deposit payments across 72 operating companies

Contents

Chapter 01

Introduction

Chapter 02

Key Challenges with Check Processing

Chapter 03

Results Across the Board

Chapter 04

Automate Cash Posting with RDC 2.0

Chapter 05

Automate Cash Posting for Remote Deposits with Mobile RDC

Chapter 06

About HighRadius
Chapter 05

Automate Cash Posting for Remote Deposits with Mobile RDC


Major Challenges with Remote Deposits

Major Challenges with Remote Deposits

  • Inability to use remittance information for cash application
  • Multiple payments for different operating companies and for different banks
  • Impact: Slow cash application and high value of unapplied cash despite already being collected

 

Mobile Remote Deposit Capture – How it Works

Instead of struggling to match the payments to the respected invoices in ERP without using the remittance information, the wholesale company decided to leverage Mobile Remote Deposit Capture technology to collect payments as and when their delivery executives delivered goods. Here is how this technology works: Mobile Remote Deposit Capture

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HighRadius Credit Software automates the credit management process, enabling credit managers to make highly-accurate credit decisions 2X faster and enable faster customer onboarding with 4 primary components: configurable online credit application, customizable credit scoring engines, credit agency data aggregation engine, and collaborative credit management workflow. Along with that, there are a lot of key features that should definitely be explored some of which are online credit application, credit information aggregation, automated credit scoring & risk assessment, credit management workflows, approval workflows, and automated bank & trade reference checks. The result is faster customer onboarding, better internal collaboration, higher customer satisfaction, more targeted periodic reviews, and lower credit risk across the company’s customer portfolio.