Achieving a 95% hit rate with an automated A/R process across all business units
Achieving a 95% hit rate with an automated A/R process across all business units
4 PagesResMed, a $3.09B global pharmaceutical company, sought to improve its Accounts Receivable (A/R) process using HighRadius' Cash Application and EIPP solutions. Faced with challenges such as high operational costs, manual processes, and limited payment options, ResMed aimed to streamline its workflow. By automating cash application, ResMed achieved a 96% hit rate, reduced DSO by 33 days in 10 months, and saved significant time for employees. The solution also enabled faster invoice matching, deduction coding, and improved customer experience with more payment options, leading to a 50% increase in operational efficiency across business units.
