Case Studies Kichler Lighting: Refines AR Processes and Boosts Productivity with HighRadius Solutions

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	Kichler Lighting: Refines AR Processes and Boosts Productivity with HighRadius Solutions

Kichler Lighting: Refines AR Processes and Boosts Productivity with HighRadius Solutions

Technology Category	Analytics & Modeling - Predictive Analytics Application Infrastructure & Middleware - Data Exchange & Integration Functional Applications - Enterprise Resource Planning Systems (ERP)
Applicable Industries	Consumer Goods
Applicable Functions	Business Operation Sales & Marketing
Use Cases	Predictive Replenishment Process Control & Optimization Remote Asset Management
Services	Software Design & Engineering Services System Integration Training
Challenge	Kichler Lighting faced significant challenges in their Accounts Receivable (AR) processes. The manual nature of their AR function led to time-consuming and error-prone invoice payment processes. Additionally, the company struggled with inefficient past-due recovery due to a lack of time and resources. The limited visibility into the end-to-end AR landscape further exacerbated these issues, making it difficult to manage financial operations effectively. Read More
About Customer	Kichler Lighting is a market leader in residential lighting design, known for its innovative and high-quality products. Headquartered in Cleveland, Ohio, the company operates within the Consumer Packaged Goods industry and generates a revenue of $62 million. Despite its market leadership, Kichler Lighting faced challenges in its financial operations, particularly in the Accounts Receivable (AR) department. The manual AR processes were labor-intensive and lacked visibility, leading to inefficiencies and inconsistencies. To address these issues, Kichler Lighting turned to HighRadius solutions to enable digital transformation and streamline their AR processes. Read More
Solution	Kichler Lighting implemented HighRadius solutions to address the inefficiencies in their Accounts Receivable processes. The HighRadius Autonomous Receivables solution enabled the company to automate the invoice payment process, significantly reducing the time and errors associated with manual handling. The HighRadius Cash Application solution improved the cash application hit-rate across multiple payment formats, enhancing the overall efficiency of the AR department. Additionally, the HighRadius Collections solution streamlined the past-due recovery process, allowing the company to allocate resources more effectively. The integration with the company's ERP system provided enhanced visibility into the end-to-end AR landscape, making it easier to manage financial operations. Read More Log in to view content
Contents

Technology Category

Analytics & Modeling - Predictive Analytics

Application Infrastructure & Middleware - Data Exchange & Integration

Functional Applications - Enterprise Resource Planning Systems (ERP)

Applicable Industries

Consumer Goods

Applicable Functions

Business Operation

Sales & Marketing

Use Cases

Predictive Replenishment

Process Control & Optimization

Remote Asset Management

Services

Software Design & Engineering Services

System Integration

Training

Challenge

Kichler Lighting faced significant challenges in their Accounts Receivable (AR) processes. The manual nature of their AR function led to time-consuming and error-prone invoice payment processes. Additionally, the company struggled with inefficient past-due recovery due to a lack of time and resources. The limited visibility into the end-to-end AR landscape further exacerbated these issues, making it difficult to manage financial operations effectively.

About Customer

Kichler Lighting is a market leader in residential lighting design, known for its innovative and high-quality products. Headquartered in Cleveland, Ohio, the company operates within the Consumer Packaged Goods industry and generates a revenue of $62 million. Despite its market leadership, Kichler Lighting faced challenges in its financial operations, particularly in the Accounts Receivable (AR) department. The manual AR processes were labor-intensive and lacked visibility, leading to inefficiencies and inconsistencies. To address these issues, Kichler Lighting turned to HighRadius solutions to enable digital transformation and streamline their AR processes.

Solution

Kichler Lighting implemented HighRadius solutions to address the inefficiencies in their Accounts Receivable processes. The HighRadius Autonomous Receivables solution enabled the company to automate the invoice payment process, significantly reducing the time and errors associated with manual handling. The HighRadius Cash Application solution improved the cash application hit-rate across multiple payment formats, enhancing the overall efficiency of the AR department. Additionally, the HighRadius Collections solution streamlined the past-due recovery process, allowing the company to allocate resources more effectively. The integration with the company's ERP system provided enhanced visibility into the end-to-end AR landscape, making it easier to manage financial operations.

Impact #1	99% of correspondences are now sent automatically, reducing the manual workload for the AR team.
Impact #2	The average days delinquent (ADD) was reduced by 54%, improving the company's cash flow.
Impact #3	The integration with the ERP system provided enhanced visibility and simplified the AR processes.

Impact #1

99% of correspondences are now sent automatically, reducing the manual workload for the AR team.

Impact #2

The average days delinquent (ADD) was reduced by 54%, improving the company's cash flow.

Impact #3

The integration with the ERP system provided enhanced visibility and simplified the AR processes.

Benefit #1	86% of payments are now applied by the system automatically.
Benefit #2	99% of correspondences are sent automatically.
Benefit #3	54% reduction in average days delinquent (ADD).

Benefit #1

86% of payments are now applied by the system automatically.

Benefit #2

99% of correspondences are sent automatically.

Benefit #3

54% reduction in average days delinquent (ADD).

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Overview

Kichler Lighting: Refines AR Processes and Boosts Productivity with HighRadius Solutions

Operational Impact

Quantitative Benefit