Duration: 60 minutes

Scaling operations efficiently in the electronic payments era is a challenge for many companies. The rise of electronic payments results in non-standard remittance formats, among other challenges. Valuable time is also lost validating deduction line items in what has become a manual and error-prone process.

COTY, the €6.6 Billion beauty and fragrance major, dealt with a geographically-distributed cash allocation process that resulted in longer cycle times to realize payments in the accounting systems.

In this ebook, Anne Addabbo, Director of A/R and Deductions, COTY explains how COTY achieved 87% straight-through cash allocation using an artificial intelligence-based solution.

Key takeaways

  • Increase cash application automation up to 87% and scale across business units and geographies

  • Leverage technology to aggregate data from various remittance formats including EDI, web portal, email, and checks

  • Achieve 100% automation for email remittance

  • Pre-code >90% deductions automatically using cash application automation

Companies using this technology

  • Adidas
  • Americangreetings
  • Asicsamerica
  • Avnet
  • Callawaygolf
  • Churchdwight
  • Citgo
  • Conagrafoods
  • Dannon
  • Doosan
  • Drpeppersnapplegroup
  • Hallmark
  • Hersheys
  • Hormel
  • Johnsonville
  • Kimberly-clark
  • Loreal
  • Medtronic
  • Newellrubbermaid
  • Starbucks
  • Toro
  • Tyson
  • Underarmour
  • Warnerbros