CASH RECOVERY AND PROCESS IMPROVEMENT
Deductions management is messy — accounts receivable (AR) teams know this to be true. This national beverage company was looking for a solution for their out-of-control AR books and backlog data from 2021 to help recover much-needed cash.
OVERALL BUSINESS IMPACT
Reconciled 85% of overdue outstanding AR balance ($18M)
Closed out 5,050 open invoices
Identified $4.7M of open invoices that need to be escalated to customers for resolution
INVALID DEDUCTIONS AND COST SAVINGS RELATED TO INDIVIDUAL ACCOUNTS:
in invoices never sent to other retailers were uncovered and sent.
“It looks like we are uncovering some real opportunities here that will generate some much-needed cash (and process improvements). Just what we were looking for.”
- CFO, Beverage Company
The data proves it’s critical for CPGs to pay attention to every deduction — which is made possible by automating manual processes. We’re all feeling the impact of working from home, rising costs, and labor shortages — and protecting margins through automation has never been more important.