With every short-paid invoice dollar, customer claims continue to plague companies while legacy systems and manual processing make recovery harder and more time-consuming.
While it is impossible to eliminate claims from A/R, credit leaders could take steps to eliminate “self-inflicted” process pains and reduce what would otherwise be considered “the cost of doing business.”
Join Part 3 of the educational web-series, Credit and A/R Manager’s Guide to Artificial Intelligence, for the real-world case study of Land O‘Lakes to streamline deductions management using RPA and best practices. We will also explore future opportunities to transform the process with Artificial Intelligence.
HighRadius Deductions Software acts as a powerhouse for proactive deduction management to prevent bottom-line erosion. It provides automation, process standardization, and a platform for cross-departmental and customer collaboration. It supports deduction management by providing some key features like back-up document capture which captures deduction data from customers and supplies the information required for resolution; auto-capture proofs of delivery (PODs), bills of lading (BOLs) from carrier portals & emails; structured deduction resolution, collaboration & approval workflows to streamline the communication and approval process; along with automatic deduction correspondence, and automatic data push to customer portals. The result is a proactive deduction management operation that recovers revenue normally lost to invalid deductions.