A/R teams today are still looking at Artificial Intelligence as a futuristic technology, even though they could leverage it in the present day to increase their productivity manifold. AI can enable deduction teams in reducing the number of disputes, prioritizing the ones which are of maximum importance and building a strategy for immediate and accurate resolution.
However, in addition to technology, deductions teams also need to follow certain best practices that would create value and improve their productivity while dealing with different customer claims. Hence, A/R leaders today need to figure out the right mix of process (aligned with industry best practices) and technology to support their deductions operations.
Join Kathy Rotondo, Sr. Vice President at IAB Solutions LLC and Sonali Nanda, Vice President, Product Management at HighRadius, in this webinar, as they talk about the right combination of service and AI-powered tools and analytics that would be imperative for deductions teams to thrive in the upcoming year.
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.