Celigo Case Studies Spectrio automates manual processes with Cash Application Manager

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	Spectrio automates manual processes with Cash Application Manager Celigo

Spectrio automates manual processes with Cash Application Manager

Celigo

Technology Category	Application Infrastructure & Middleware - Data Exchange & Integration Functional Applications - Enterprise Resource Planning Systems (ERP)
Applicable Industries	Professional Service Retail
Applicable Functions	Business Operation Sales & Marketing
Services	System Integration
Challenge	Similar to many companies, Spectrio manually processed cash application. With a monthly subscription business model, Spectrio processed about 3,000 check payments per month. Even after setting up a lockbox account with their bank, a full-time employee spent 30+ hours per week on data entry to manually reconcile lockbox reports against invoices in NetSuite. This was in addition to hours spent in investigating discrepancies and correcting data entry errors. Furthermore, Spectrio had to wait until close of business to view cash flow and payment statuses. These challenges were at a time when the company was facing rapid growth. Read More
About Customer	Spectrio is one of the nation’s leading end-to-end technology-enabled audio and video marketing companies, providing professional content and managed services on a monthly subscription basis. Their solutions, consisting of On-Hold Messaging, Digital Signage, and Overhead Music, enable clients to engage, educate, and entertain their customers across all customer touchpoints. Their clients include Whole Foods Market, Bridgestone, Papa Johns, Jiffy Lube, and other leading brands. Read More
Solution	Having used other Celigo solutions, when Cash Application Manager first became available, Spectrio jumped at the chance to use the product. They were particularly interested in how the solution was out-of-the-box without requiring IT support. Working with the Celigo team, they were able to quickly install and configure the solution. Once implemented, payment files from their bank were automatically and securely loaded into NetSuite. The payments were matched with customer invoices and credit memos automatically created. Payments that could not be matched were flagged and Spectrio could drill down and quickly investigate. Read More Log in to view content
Contents

Technology Category

Application Infrastructure & Middleware - Data Exchange & Integration

Functional Applications - Enterprise Resource Planning Systems (ERP)

Applicable Industries

Professional Service

Retail

Applicable Functions

Business Operation

Sales & Marketing

Services

System Integration

Challenge

Similar to many companies, Spectrio manually processed cash application. With a monthly subscription business model, Spectrio processed about 3,000 check payments per month. Even after setting up a lockbox account with their bank, a full-time employee spent 30+ hours per week on data entry to manually reconcile lockbox reports against invoices in NetSuite. This was in addition to hours spent in investigating discrepancies and correcting data entry errors. Furthermore, Spectrio had to wait until close of business to view cash flow and payment statuses. These challenges were at a time when the company was facing rapid growth.

About Customer

Spectrio is one of the nation’s leading end-to-end technology-enabled audio and video marketing companies, providing professional content and managed services on a monthly subscription basis. Their solutions, consisting of On-Hold Messaging, Digital Signage, and Overhead Music, enable clients to engage, educate, and entertain their customers across all customer touchpoints. Their clients include Whole Foods Market, Bridgestone, Papa Johns, Jiffy Lube, and other leading brands.

Solution

Having used other Celigo solutions, when Cash Application Manager first became available, Spectrio jumped at the chance to use the product. They were particularly interested in how the solution was out-of-the-box without requiring IT support. Working with the Celigo team, they were able to quickly install and configure the solution. Once implemented, payment files from their bank were automatically and securely loaded into NetSuite. The payments were matched with customer invoices and credit memos automatically created. Payments that could not be matched were flagged and Spectrio could drill down and quickly investigate.

Impact #1	Spectrio was able to automate 90% of check payments sent via their lockbox account as soon as they implemented Cash Application Manager.
Impact #2	Immediate benefits from the solution included a significant reduction in time spent on accounts receivable processing.
Impact #3	The reassignment of a full-time employee to higher value work was made possible.

Impact #1

Spectrio was able to automate 90% of check payments sent via their lockbox account as soon as they implemented Cash Application Manager.

Impact #2

Immediate benefits from the solution included a significant reduction in time spent on accounts receivable processing.

Impact #3

The reassignment of a full-time employee to higher value work was made possible.

Benefit #1	Time spent on accounts receivable processing was reduced from 30+ hours to 1 hour per week
Benefit #2	One full-time employee was reassigned to work on higher value work
Benefit #3	More accurate and timely reports with up-to-date, verified daily cash position

Benefit #1

Time spent on accounts receivable processing was reduced from 30+ hours to 1 hour per week

Benefit #2

One full-time employee was reassigned to work on higher value work

Benefit #3

More accurate and timely reports with up-to-date, verified daily cash position

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Overview

Spectrio automates manual processes with Cash Application Manager

Operational Impact

Quantitative Benefit