Logistics Industry & High Speed Receivables Processing: 95% Straight-Through Cash Application for 100,000+ Payments

Key Takeaways

Consolidate the payment information from checks, ACH or credit cards and remittances from various sources including EDI, web portals, email body and email attachments
Link payments to the correct remittances, even if billing or a tracking number is mentioned
Handle missing and incomplete remittance issues based on customer-defined parameters
Automatically code deductions once a short-payment is received

Speakers

Bob Diana, Regional Vice President, HighRadius
CM Nayak, Manager, Solutions Engineering, HighRadius

About The Webinar

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.

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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.