This e-book presents information on deduction automation that†every A/R leader should know before starting their automation journey.
Below are outlined a few other noteworthy factors to consider. Implementation Duration The implementation cycle could take a few hours to several months based on vendor capabilities. A quick go-live is mission critical and a must for a positive ROI on an automation project. Degree of Flexibility Not all businesses are the same, therefore, the software application needs to be configurable so that it is able to easily be fine-tuned to the requirements of each organization. Business users should be able to make configurational changes without involving IT to make backend code changes. User Adoption A good understanding of what type of ramp-up is required for new users is needed for a successful implementation. It should also be determined how much time would be required to train users on the new system. Reporting and Analytics Check the reporting mechanism for the software and determine if the solution provides out-of-the-box dashboards to review deductions management performance.
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.