An insightful summary of how these GPOs made their Order To Cash future-ready while reducing costs, improving metrics and keeping their customers happy!
New process implementation based on unfamiliar technology such as RPA and AI undoubtedly results in kickback from most of the functional workers due to:
Hence, GPOs must have robust communication and influential skills to smoothen change management and technology adoption.
Here is how McCormick was able to address each and every single challenge posed during change management while implementing new solutions for cash application and deduction management:
HighRadius Integrated Receivables Software Platform is the world's only end-to-end accounts receivable software platform to lower DSO and bad-debt, automate cash posting, speed-up collections, and dispute resolution, and improve team productivity. It leverages RivanaTM Artificial Intelligence for Accounts Receivable to convert receivables faster and more effectively by using machine learning for accurate decision making across both credit and receivable processes and also enables suppliers to digitally connect with buyers via the radiusOneTM network, closing the loop from the supplier accounts receivable process to the buyer accounts payable process. Integrated Receivables have been divided into 6 distinct applications: Credit Software, EIPP Software, Cash Application Software, Deductions Software, Collections Software, and ERP Payment Gateway - covering the entire gamut of credit-to-cash.