Community Coffee, a fourth-generation world-class coffee roaster and distributor, faced a challenge in the Accounts Receivables department as the cash application team experienced cumbersome cash posting. The team was overloaded with large remittances from customers such as Walmart, Kroger and Winn Dixie, who would send huge ACH payment files requiring manual manipulation to be posted. Discrepancies such as shortages, overpayments, and duplicate payments had to be identified first by converting files to Excel and reconciling the remittance information with SAP open items before posting could occur. Electronic payments and multiple remittance formats from other customers further complicated efficiency and scaling.
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.
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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
