Zurich Insurance Group, facing challenges with a manual and decentralized cash application process, implemented HighRadius' Cash Application Software to streamline operations. Previously, processing payments such as ACH, wire transfers, and checks required manual effort, leading to delays and inefficiencies. With the HighRadius solution, Zurich achieved 85% straight-through cash posting, reallocated 33% of its staff to critical tasks, and eliminated 100% of lockbox fees. The AI-powered Optical Character Recognition (OCR) technology enhanced accuracy and customer experience, reducing errors and providing real-time visibility into customer accounts. This automation significantly boosted productivity and efficiency.

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