Steering Clear of $5 Million in Revenue Leakages Across 1700+ Centers With HighRadius' Anomaly Management

Impact Achieved

95%

Automatic
ERP Journal Posting

220+

Duplicates Automatically
Flagged in Systems

$220k+

Saved & Eliminating
Duplicates in 6 months

Customer Digest

Our accounting team faced the daunting task of sifting through 130,000 rows daily and completing 500 tasks by month’s end. With our annual growth rate at 10%, manually identifying duplicate invoices in our Accounts Payable was becoming increasingly challenging. HighRadius played a pivotal role in eliminating tedious tasks associated with anomaly detection, delivering significant results swiftly.

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Top Challenges

  • Manual Entries are Error-Prone:They encountered accounting anomalies due to incorrect entries, such as posting to wrong accounts, duplicate entries, and misclassified expenses, leading to significant financial discrepancies discovered during the month-end close.
  • Multiple ERPs Generating Duplicate Invoices Resulting in Duplicate Payments: They faced significant revenue leakages of approximately $9 million annually due to duplicate transactions caused by inconsistent invoice posting, operational errors, and supplier data mismatches.
highradius

Business Benefits

  • HighRadius’ Anomaly Management system helped America’s leading automotive company streamline its Accounts Payable processes by integrating with historical General Ledger (GL) data from Workday. 

    The Anomaly Detection feature flagged duplicate invoices, which were eliminated from the ledger before being pushed to the ERP. 

    The Anomaly Dashboard provided an overview of anomalies detected, resolved, and corrected. As a result, 95% of journal entries are now automatically input directly into the ERP system.

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40%

Automated Cash Posting

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Annual Lockbox Savings

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Automation of Existing Credit Workflows

Express Employment

85%

Automation For checks and ACH

$84K

Savings In annual lockbox fees

Error

free Same-day Posting for 25,000 Invoices

CF Industries

100%

Visibilty into Disputes

20%

Reduction in DSO

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Reduction In Time Spent on Correspondence