Claims Backup Automation
Save 40% of Analyst Time with Claims Backup Automation
Automatically collect documents from 500+ sources, and link them to deductions for faster resolution
Claims Backup Automation
Automatically collect documents from 500+ sources, and link them to deductions for faster resolution
For a 40 hour week, an analyst spends:
Before
16 hours
spent manually aggregating documents.12 hours
spent matching documents and validating deductions.8 hours
of back-and-forth between departments for document approvals.
After
<1 hour
with automated document aggregation.<4 hours
with automated claims-to-deductions linking.Instant
approval workflows, reducing interdepartmental time to just minutes.
HighRadius was able to provide a solution that eliminated manual operation by providing efficiency throughout our A/R processes
Result
Laurent Gueritaine
Global Process Owner, Invoicing to Cash
We had a very lengthy cash application process. There was a large backlog of cash application that would date back a week or a month. It never really seemed to happen real time.
Result
Dan Luipersbeck
Chief Financial Officer
Deduction Management Software helps streamline the process of handling customer deductions. Deductions occur when customers short-pay invoices due to reasons such as returns, damaged goods, promotional allowances, or pricing disputes. This software automates the tracking, validation, & resolution of these deductions.
It integrates with accounting and ERP systems to provide a comprehensive view of all deductions and their statuses. By performing deduction auto coding, the software reduces manual efforts, minimizes errors, and speeds up resolution times. This leads to better cash flow management, enhanced customer relationships, and more accurate financial reporting.
AI-powered Deduction Management Software offers advanced capabilities that traditional systems lack. AI can quickly analyze vast amounts of data to identify patterns and root causes of deductions. This speeds up the resolution process by automatically matching deductions to their corresponding invoices and provides suggested actions.
AI enhances accuracy by reducing manual errors and helps in prioritizing high-impact deductions. It also offers predictive insights, allowing businesses to anticipate and mitigate future deduction issues. Overall, AI-powered software improves efficiency, reduces costs, and enhances decision-making, making it a valuable tool for modern financial management.
Deduction Management Solutions offer several benefits to businesses. It includes:
It helps businesses to identify and address recurring issues. By resolving deductions more efficiently, companies can enhance customer relationships and satisfaction. Additionally, some of these solutions often include analytics and reporting tools, offering insights into deduction trends and helping to improve overall financial management.
Marketing Cloud is an AI-powered, cloud-based digital marketing platform within the Salesforce Customer 360 ecosystem. Marketers can segment their audience, deliver personalized messages, track campaign performance, engage leads and accounts, and optimize strategies based on real-time insights. It helps make every moment count to drive customer loyalty and more effective marketing outcomes.
Yes, the HighRadius Deductions Management Software seamlessly integrates with your ERP and supports API integration with other financial management systems. This allows easy extraction of specific fields like credit memos, open deductions, and open negative line items.
The implementation time for HighRadius Dispute Management Software varies based on the complexity of your organization’s requirements. However, our Speed to Value methodology guarantees swift implementation and ROI realization within 3 to 6 months, setting an industry benchmark.
The Deductions Management Software requires minimal IT involvement. With seamless plug-and-play integration into ERPs using real-time APIs and Hex (SFTP) connectors, along with pre-built modules and industry-specific best practices, customers can deploy it remotely with ease, reducing heavy IT dependencies.
AI-powered automation software for Deductions Management significantly enhances the efficiency and effectiveness of the deductions process. The AI Deductions Validity Predictor uses AI algorithms that look at 20+ variables & 12 months of Dispute Resolution History to identify which Deductions have a high probability of being Valid/Invalid, reducing manual effort and maximizing recovery rates.
All the line item data will be captured from the backup documents such as Claim documents, PODs, and BOLs. For discounts taken on Trade Promotions, the claim document that your customers send might have item numbers different from your item numbers. In this case, HighRadius will reconcile these customers’ item numbers to ones that your ERP can understand.
Yes, the deduction can be split into two parts. The Deduction specialist can do this in the deductions tool with a click of a button. For the new deduction line items new reason codes can be added.
