Case Study: Community Coffee’s 90%+ Straight-Through Processing

Key Takeaways

Identify the repetitive, clerical tasks at each step of cash application for automation, pursuing the maximum ROI for the A/R department
Zero-in on a robotic process automation cash application technology that allows 90%+ straight-through processing
Choose an Artificial Intelligence-based, robotic process automation technology that eliminates the need for human intervention from remittance aggregation and capture
Apply business rules for linking and matching payments to invoices, even without remittance

Speakers

Sandra LeBlanc, Receivables Manager, Community Coffee
Elaine M. Nowak, Director Product Management & Marketing, HighRadius

About The Webinar

Community Coffee, a fourth-generation world-class coffee roaster and distributor, faced a challenge in the Accounts Receivables department as the cash application team experienced cumbersome cash posting. The team was overloaded with large remittances from customers such as Walmart, Kroger and Winn Dixie, who would send huge ACH payment files requiring manual manipulation to be posted. Discrepancies such as shortages, overpayments, and duplicate payments had to be identified first by converting files to Excel and reconciling the remittance information with SAP open items before posting could occur. Electronic payments and multiple remittance formats from other customers further complicated efficiency and scaling.

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HighRadius Cash Application Software enables the end-to-end automation of the cash application process that covers major benefits such as AI-enabled data capture for remittances, auto-linking of payments with open invoices, cost-cutting on lockbox fees and easy compatibility with any system due to its ERP-agnostic Saas infrastructure. Apart from the major benefits that it has, there are some key features which can not be missed out, some of them are Email Remittance capture, Discounts and Deductions Handling, Check Remittance Capture, Web Remittance Capture, Invoice Matching, and RDC & Mobile Payments.