Case Studies 20% Reduction in Bad Debt: Collections Automation Journey with AI

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	20% Reduction in Bad Debt: Collections Automation Journey with AI

20% Reduction in Bad Debt: Collections Automation Journey with AI

Technology Category	Analytics & Modeling - Predictive Analytics Functional Applications - Enterprise Resource Planning Systems (ERP)
Applicable Functions	Business Operation Sales & Marketing
Use Cases	Process Control & Optimization
Services	Software Design & Engineering Services System Integration
Challenge	With a team of just 12 people, Staples faced a hectic work environment. Seven collectors were managing 900-1000 accounts each, with aging buckets up to 1000 days. They had to manually gather information from 20 different customer portals, which was time-consuming and inefficient. The accounts included multiple parent-child scenarios, complicating visibility and transparency. Paper-based aging and manual prioritization further added to the inefficiency, with dollars stuck in 1000+ days aging buckets. Manual invoice tracing from customer portals led to lesser productivity. Read More
About Customer	Staples, headquartered in Framingham, Massachusetts, is a leading company in the Business Supplies and Equipment industry. Known as The Work Life Fulfillment Company, Staples helps businesses of all sizes be more productive, connected, and inspired. They offer customized solutions through dedicated account teams, category professionals, innovative brands, and a curated product assortment. Staples aims to help organizations achieve their goals, whether they work in traditional office settings or remote environments. With a revenue of $17.9 billion, Staples is a significant player in its industry. Read More
Solution	HighRadius provided a Collections Cloud solution that generated a prioritized worklist, intelligently gathering data and performing task prioritization. This allowed analysts to focus on the dunning process rather than aggregating information. The solution monitored payment commitments, reminder calls, reminder mails, and blocked orders. It consolidated customer information into a single worklist, making centralized access more efficient. In-built templates for different dunning stages were used, and the solution allowed for monitoring metrics and tracking KPIs. Graphical representations of analyst performance were also provided. Read More Log in to view content
Contents

Technology Category

Analytics & Modeling - Predictive Analytics

Functional Applications - Enterprise Resource Planning Systems (ERP)

Applicable Functions

Business Operation

Sales & Marketing

Use Cases

Process Control & Optimization

Services

Software Design & Engineering Services

System Integration

Challenge

With a team of just 12 people, Staples faced a hectic work environment. Seven collectors were managing 900-1000 accounts each, with aging buckets up to 1000 days. They had to manually gather information from 20 different customer portals, which was time-consuming and inefficient. The accounts included multiple parent-child scenarios, complicating visibility and transparency. Paper-based aging and manual prioritization further added to the inefficiency, with dollars stuck in 1000+ days aging buckets. Manual invoice tracing from customer portals led to lesser productivity.

About Customer

Staples, headquartered in Framingham, Massachusetts, is a leading company in the Business Supplies and Equipment industry. Known as The Work Life Fulfillment Company, Staples helps businesses of all sizes be more productive, connected, and inspired. They offer customized solutions through dedicated account teams, category professionals, innovative brands, and a curated product assortment. Staples aims to help organizations achieve their goals, whether they work in traditional office settings or remote environments. With a revenue of $17.9 billion, Staples is a significant player in its industry.

Solution

HighRadius provided a Collections Cloud solution that generated a prioritized worklist, intelligently gathering data and performing task prioritization. This allowed analysts to focus on the dunning process rather than aggregating information. The solution monitored payment commitments, reminder calls, reminder mails, and blocked orders. It consolidated customer information into a single worklist, making centralized access more efficient. In-built templates for different dunning stages were used, and the solution allowed for monitoring metrics and tracking KPIs. Graphical representations of analyst performance were also provided.

Impact #1	The HighRadius solution generated a prioritized worklist, allowing analysts to focus on the dunning process rather than aggregating information.
Impact #2	The solution monitored payment commitments, reminder calls, reminder mails, and blocked orders, improving overall efficiency.
Impact #3	Customer information was consolidated into a single worklist, making centralized access more efficient.

Impact #1

The HighRadius solution generated a prioritized worklist, allowing analysts to focus on the dunning process rather than aggregating information.

Impact #2

The solution monitored payment commitments, reminder calls, reminder mails, and blocked orders, improving overall efficiency.

Impact #3

Customer information was consolidated into a single worklist, making centralized access more efficient.

Benefit #1	20% Reduction in Bad Debt
Benefit #2	5-6 Days Reduction in DSO
Benefit #3	27% Reduction in Past Dues

Benefit #1

20% Reduction in Bad Debt

Benefit #2

5-6 Days Reduction in DSO

Benefit #3

27% Reduction in Past Dues

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Overview

20% Reduction in Bad Debt: Collections Automation Journey with AI

Operational Impact

Quantitative Benefit