Altair Case Studies Streamlining Collections Process with IoT: A Case Study on Earthlite and Altair Monarch

	Streamlining Collections Process with IoT: A Case Study on Earthlite and Altair Monarch Altair

Streamlining Collections Process with IoT: A Case Study on Earthlite and Altair Monarch

Altair

Applicable Industries	Buildings Construction & Infrastructure
Use Cases	Root Cause Analysis & Diagnosis
Challenge	Earthlite, a leading massage and spa equipment manufacturer, faced significant challenges in managing its accounts receivable and accounts payable reporting processes. With a diverse and distributed customer base, the company needed an efficient and accurate method to manage these processes. The existing method involved the accounts receivable team manually downloading and analyzing 500-page PDF reports to identify accounts where collections were needed. The static report structure prevented Earthlite from being able to sort and organize the information or perform any sort of data analysis. This process was not only time-consuming and resource-intensive, taking each team member approximately six hours every month, but it was also prone to errors and potential delays in the collections process. Read More
About Customer	Earthlite, founded in 1987 and headquartered in Vista, California, is recognized as the world's highest quality massage and spa equipment manufacturer. The company operates on three continents and distributes its products globally to more than 150 countries. Given its diverse and distributed customer base, Earthlite needed an efficient and accurate way to manage its accounts receivable and accounts payable reporting processes. The company faced challenges with its existing static report structure, which was time-consuming, resource-intensive, and susceptible to errors. Read More
Solution	To overcome these challenges, Earthlite turned to Altair's Monarch solution. Monarch simplified the data preparation process and expedited analysis. It enabled the automatic export of accounts receivable information into a tabular structure, providing Earthlite with the ability to sort, filter, and perform analysis of any kind. This dramatically simplified and expedited the reporting and analysis process. What previously took a team of three an average of 18 hours each month, now takes one employee just one hour to complete. This solution has resulted in significant time savings for the company, with an estimated 200 hours saved per year. Read More Log in to view content
Contents

Applicable Industries

Buildings

Construction & Infrastructure

Use Cases

Root Cause Analysis & Diagnosis

Challenge

Earthlite, a leading massage and spa equipment manufacturer, faced significant challenges in managing its accounts receivable and accounts payable reporting processes. With a diverse and distributed customer base, the company needed an efficient and accurate method to manage these processes. The existing method involved the accounts receivable team manually downloading and analyzing 500-page PDF reports to identify accounts where collections were needed. The static report structure prevented Earthlite from being able to sort and organize the information or perform any sort of data analysis. This process was not only time-consuming and resource-intensive, taking each team member approximately six hours every month, but it was also prone to errors and potential delays in the collections process.

About Customer

Earthlite, founded in 1987 and headquartered in Vista, California, is recognized as the world's highest quality massage and spa equipment manufacturer. The company operates on three continents and distributes its products globally to more than 150 countries. Given its diverse and distributed customer base, Earthlite needed an efficient and accurate way to manage its accounts receivable and accounts payable reporting processes. The company faced challenges with its existing static report structure, which was time-consuming, resource-intensive, and susceptible to errors.

Solution

To overcome these challenges, Earthlite turned to Altair's Monarch solution. Monarch simplified the data preparation process and expedited analysis. It enabled the automatic export of accounts receivable information into a tabular structure, providing Earthlite with the ability to sort, filter, and perform analysis of any kind. This dramatically simplified and expedited the reporting and analysis process. What previously took a team of three an average of 18 hours each month, now takes one employee just one hour to complete. This solution has resulted in significant time savings for the company, with an estimated 200 hours saved per year.

Impact #1	The implementation of Monarch has not only streamlined Earthlite's accounts receivable reporting and collections process but also provided a significant return on investment. The success of the solution has led the company to plan to roll out Monarch to other areas of the business. The company is considering leveraging Monarch for medical bill and insurance analysis, as well as for standard HR functions. This indicates the versatility and scalability of the solution, demonstrating its potential to drive efficiency and accuracy across different business functions.

Impact #1

The implementation of Monarch has not only streamlined Earthlite's accounts receivable reporting and collections process but also provided a significant return on investment. The success of the solution has led the company to plan to roll out Monarch to other areas of the business. The company is considering leveraging Monarch for medical bill and insurance analysis, as well as for standard HR functions. This indicates the versatility and scalability of the solution, demonstrating its potential to drive efficiency and accuracy across different business functions.

Benefit #1	The solution reduced the time taken for accounts receivable reporting from 18 hours per month to just one hour.
Benefit #2	The company saved approximately 200 hours per year.
Benefit #3	The solution eliminated the need for manual data analysis, reducing the risk of errors.

Benefit #1

The solution reduced the time taken for accounts receivable reporting from 18 hours per month to just one hour.

Benefit #2

The company saved approximately 200 hours per year.

Benefit #3

The solution eliminated the need for manual data analysis, reducing the risk of errors.

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Overview

Streamlining Collections Process with IoT: A Case Study on Earthlite and Altair Monarch

Operational Impact

Quantitative Benefit