The A/R staff at XPO Logistics and Coyote Logistics dealt with over 100,000 payments from multiple customers. Cash application analysts lost 70% of their time in fetching remittance information from emails, spreadsheet and customer websites. Moreover, more than 20% of the payments had missing or incomplete remittance information. Learn how they tackled the issues of the cash application process and made their way through, achieving 95% straight-through processing.
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.