EBSCO, an American media & publishing company automated its end-to-end payment processing with HighRadius and achieved a hit rate of 82% in cash application, enhancing its overall customer experience.
Employee
6000
Revenue
$2.8 Billion (2017)
Geography
NA
Top Challenges
Huge manual workload with just 6 analysts executing the entire process.
Missing remittances for payments received leading to delayed cash application.
Slower processing of credit card payments negatively impacting customer experience.
Business Benifits
Automated invoice matching helped process payments faster.
AI-based remittance prediction for missing remittances resulting in faster cash posting.
A self-service payment portal eased credit card and ACH payments for customers.