Deductions Management Software
Deductions Validity Predictor & Auto-match algorithms to speed up the research & resolution of Deductions.
Improve net recovery by 30%
Increase FTE productivity by 40%
Deductions Validity Predictor & Auto-match algorithms to speed up the research & resolution of Deductions.
Improve net recovery by 30%
Increase FTE productivity by 40%
Product
Value
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.
Deduction management cloud software resolves several challenges associated with handling customer deductions. It centralizes and automates the deduction process, reducing the dependency on manual tasks with workflow collaboration software. It aLso offers real-time visibility into deduction statuses.
All these features together helps identify and resolve issues faster. It integrates with existing accounting and ERP systems, ensuring data consistency. The cloud-based nature allows for easy access and collaboration across different teams and locations. By automating workflows and providing analytics, the software helps identify patterns and root causes of deductions, leading to proactive issue management and improved cash flow.
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.
