Organizations are witnessing a steady growth in the volume of disputes raised by its customers both in the trade and non-trade categories. With a process laden with a large amount of manual work including collecting back up data and collaborating with multiple stakeholders, the deductions analyst productivity is affected leading to more time being spent resolving valid disputes and less time dedicated to invalid deduction research. The result is a protracted dispute resolution process, piling up the volume of unresolved deductions and a rise in the number of small and medium ticket deduction write-offs which is costing the organization millions of euros. The overall impact of this is that the deductions process turns into a costly affair that is burning more than it is recovering and any allocation additional resource to handle deductions more effectively becomes unwarranted.
Faced with similar challenges, Credit and A/R leaders at P&G, Danone, and 350 other leading organizations used robotic process automation to help them convert their deductions teams from being a cost center into a profit center. Learn the story behind how they achieved this by signing up for the upcoming webinar:
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.