Did you know that best-in-class A/R teams process deductions 6 times faster than below-average performers? Teams with high DDO and poor recovery rates cite reactive deduction processes and poor cross-team collaboration.
But, process transformation is no mean feat! Leading teams really get ahead by focusing on process changes capable of delivering long-term ROI.
Peer-recommended areas for quick impact include backup document research, internal collaboration and customer correspondence.
This deductions masterclass will help you kick-start 2017 with 3 best-practices and technology your team could adopt to improve KPI and save $1.5 million over the next 3 years!
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.