Advanced Correspondence Automation
The HighRadius Advanced Correspondence Automation solution enables the automated creation and distribution of credit, collections, and dispute correspondence. Using data inputs from SAP Financials, Sales & Distribution, and the Receivable Management modules, a robust rules engine automatically drives key decisions in the correspondence process: where to send, what to send, how to send, and when to send. It also dynamically creates the collection correspondence, gathers any backup documentation, and collates it into a package to be sent via email, fax, or mail. The result is a less cumbersome process that reduces errors, increases productivity, and improves KPIs like Days Sales Outstanding (DSO).
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The accelerator is certified by SAP and built on top of the SAP Netweaver platform in ABAP code. This provides real-time data integration and lower total cost of ownership than point solutions that are not native to SAP.
Features
- Library of best practice collection & dispute letters and the ability for end-users to create individual correspondence letters dynamically in SAP without requiring Smart Form development by IT.
- Ability to automatically send collection correspondence such as past due letters, invoices, etc. via email and fax en masse directly from SAP.
- Auto-attachment of additional documentation such as Proofs of Delivery (POD) and Bills of Lading (BOL) to correspondence.
- Ability to mass generate collated claim denial packages for invalid deduction cases including customer denial forms, invoice copies, debit memos, PODs, etc.
- History logs to track all correspondence and the ability to view the original content of each correspondence package.
Benefits
- Automates up to 30% of an analyst’s workload, freeing up valuable time to focus on core credit & collections related activities.
- Lowers Days Sales Outstanding (DSO) via ‘touching’ a big volume of small balance customers that have historically not gotten attention due to capacity constraints.
- Error-free correspondence improves customer relations and quicker resolution.
- Lower Total Cost of IT Ownership (TCO) since the solution can be installed in the existing SAP landscape eliminating the need for additional hardware and a product-specific support team.
Resources
Case Study
How Dr Pepper Snapple Group Achieved 80% Credit & AR Process Automation and Saved $2M
Colleen Zdrojewski, Vice President, Financial Services, Dr Pepper Snapple Group
Jay Tchakarov, Vice President, Product Management, HighRadius
