An insightful summary of how these GPOs made their A/R future-ready while reducing costs, improving metrics and keeping their customers happy!
Yes. Those are the things on the horizon that are going to completely change the outlook of accounts receivable in shared services within the next two years! Here is a quick overview of how 4 world-class GPOs prepared their A/R for the future: ? Cargill: Perform exhaustive process evaluation and benchmarking to find maturity gaps in your process before looking for any new technology ? Air Products: Standardization, Objectivity, transparency, compliance, and productivity are the five pillars of global credit risk management. Any technology that you choose must support all the five points ? Keurig Dr. Pepper: Go for a single integrated receivables platform that supports all your A/R processes to improve your A/R performance at low cost while keeping customers happy. ? Danone: Choose the right technology by clearly defining what you want from the technology and select the right vendor that can understand your business, tailor their solution to your unique requirements and deliver on time. Following the footsteps of these pioneers can enable businesses to tackle some of their most common challenges specific to shared services and help them on their journey for an optimized A/R transformation. However, in any transformation, technology is an essential part and selecting the right technology is also a big challenge.
HighRadius Integrated Receivables Software Platform is the world's only end-to-end accounts receivable software platform to lower DSO and bad-debt, automate cash posting, speed-up collections, and dispute resolution, and improve team productivity. It leverages RivanaTM Artificial Intelligence for Accounts Receivable to convert receivables faster and more effectively by using machine learning for accurate decision making across both credit and receivable processes and also enables suppliers to digitally connect with buyers via the radiusOneTM network, closing the loop from the supplier accounts receivable process to the buyer accounts payable process. Integrated Receivables have been divided into 6 distinct applications: Credit Software, EIPP Software, Cash Application Software, Deductions Software, Collections Software, and ERP Payment Gateway - covering the entire gamut of credit-to-cash.