Deduction teams struggle to improve effectiveness and to define ambitious, yet realistic objectives for improvement. Key factors in improving performance are the ability to identify and plan for industry trends and best practices, and benchmark against best-in-class peers. Implementing a solid KPI system that includes deductions recovered, days deductions outstanding, invalid deductions and other metrics is crucial to enable significant process improvement when managing deductions.
The Credit Research Foundation (CRF), in collaboration with the Attain Consulting Group, monitors the trends in deductions across industries. This webinar will share findings that provide actionable insights and best practices for performance comparison and improvement.
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.
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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
