67% of companies are struggling with a steady or growing flow of deductions, yet more than 63% of companies are managing this problem with less than five team members. This leads to inadequate research, higher write-offs for small and medium ticket deductions, and long resolution time, costing hundreds of thousands and even millions of dollars. Unfortunately, the high operational costs of manual deductions research make it impractical to increase the team size substantially.
Accounts receivable and deductions leaders at Adidas, Dr. Pepper Snapple Group faced similar business challenges. They adopted deductions best practices supported by automation software to reduce manual tasks by 92%, shave 40% off of DDO and saved over $1.4 million to make deductions a significant contributor to improved profitability.
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.
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We have seen financial services costs decline by $2.5M while the volume, quality, and productivity increase.
Colleen Zdrojewski
Trusted By 800+ Global Businesses
HighRadius Corporation
2107 CityWest Blvd,
Suite 1100,
Houston, TX 77042
