Dr. Pepper Snapple Group (DPSG) is a $6B company and the #1 flavored carbonated soft drink manufacturer in the US. The financial services team at DPSG relied on outsourcing Collections, Cash Application and other A/R functions to control costs. However, it ended up struggling with growing overhead costs and deteriorating metrics including write-offs, late payments, and re-training.
DPSG moved operations in-house and used 6-Sigma tools and methodologies to standardize processes, eliminate waste and track metrics. A critical component – the team leveraged advanced robotics automation technology to streamline and track A/R operations.
HighRadius Cash Application Software enables the end-to-end automation of the cash application process that covers major benefits such as AI-enabled data capture for remittances, auto-linking of payments with open invoices, cost-cutting on lockbox fees and easy compatibility with any system due to its ERP-agnostic Saas infrastructure. Apart from the major benefits that it has, there are some key features which can not be missed out, some of them are Email Remittance capture, Discounts and Deductions Handling, Check Remittance Capture, Web Remittance Capture, Invoice Matching, and RDC & Mobile Payments.