OTR Solutions’ 85% Efficiency Boost with AI Automation for Thousands of ACHs and Checks Daily

Impact Achieved

99%

Incoming Payments Processed Through the System

85%

Automated Posting ACH Payments

Hundreds

of Checks Reviewed per Day

“HighRadius completely transformed our cash application process. We now review over thousands of ACHs and checks daily without the hassle of manual matching for 85% of ACH payments. Exception handling for checks has also drastically reduced. Our team’s efficiency has soared, giving us more time for strategic tasks. HighRadius has truly been a game-changer for OTR Solutions.”

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Peter Corrigan

Chief Financial Officer at OTR Solutions

OTR Solution

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About OTR Solutions

OTR Solutions is a leading and highly trusted factoring and back office provider to the transportation industry.

OTR Solution’s prior automation system faced significant challenges in matching remittances with their corresponding electronic payments. The system primarily matched payments based on the amount, ignoring the origin of the payments, leading to inaccuracies and inefficiencies.

Industry

Financial Services

Founded

2011

Region

Roswell, GA

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Top Challenges

  • High Resource Consumption: 18 cash application analysts spend 1920 hours per year on manual processes.
  • Manual ACH Matching: 85% of ACH payments require manual matching with remittances and ERP posting.
  • Exception Handling Burden: 20% of check payments need manual exception handling.
  • No Remittance Management: 10% of FTE time is dedicated to handling payments without remittance information.

Business Benefits

  • Automated and Streamlined Cash Application Process
  • Reduced Manual Effort in Payment/Invoice Matching
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