For all A/R teams, large volume of check payments create a direct cost impact with high bank lockbox fees and time lost to inefficient, manual exception handling and cash posting.
Cusotmers paying via ACH, add to the burden. ACH and other electronic payments require manual reconciliation because of non-standard or incomplete remittance data received via a multitude of sources including emails, email attachments and web portal, minimizing the speed and cost advantages of electronic payments.
Join, Elaine Nowak, Director, Product Management, HighRadius, as she walks you through how the credit and A/R teams from Danone moved from a completely manual, supervised process to automating more than 90% manual tasks and eliminating bank lockbox fee.
In this webinar, Elaine will help you understand how to:
- Diagnose the cash application process to identify low-value tasks suitable for automation
- Benefit from faster ACH paying customers and remove issues with remittance information
- Reduce A/R operation costs by eliminating bank lockbox data key-in fees
- Optimize downstream A/R processes such as collections and deductions management by more speedy and complete cash application
- Achieve zero-touch automation of payment processing and cash posting with NACHA’s Preferred Partner technology for cash application
Duration: 30 minutes
- Elaine Nowak, Director, Product Management and Marketing, HighRadius