Dealing with Increasing DSO and Dispute Volumes with Artificial Intelligence
Company Size
1,000+
Region
- America
Country
- United States
Product
- Cash Application Cloud
- Deductions Cloud
Tech Stack
- AI-based Remittance Prediction
- Multi-OCR Engine
- Intelligent A/R Matching Engine
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Cost Savings
- Customer Satisfaction
- Productivity Improvements
Technology Category
- Analytics & Modeling - Predictive Analytics
- Application Infrastructure & Middleware - Data Exchange & Integration
- Functional Applications - Enterprise Resource Planning Systems (ERP)
Applicable Industries
- Apparel
Applicable Functions
- Business Operation
- Quality Assurance
Use Cases
- Predictive Replenishment
- Process Control & Optimization
- Remote Asset Management
Services
- Software Design & Engineering Services
- System Integration
About The Customer
Komar, established in 1908, is a manufacturing and distribution apparel company with a diverse portfolio of owned, licensed, and private label brands. The company operates on a global scale, distributing apparel through Komar Distribution Services. With a revenue of $250 million, Komar has a significant presence in the wholesale distribution industry. The company faced challenges in managing cash application and deductions due to its extensive international distribution network.
The Challenge
Komar, a global apparel distribution company, faced significant challenges in managing cash application and deductions on a massive scale. The A/R teams worked in silos, leading to blocked orders and negative customer experiences. Inefficient deductions processes caused bottom-line erosion and reduced employee productivity. The manual cash application process increased costs and delayed cash processing, resulting in higher DSO and negatively impacting downstream processes.
The Solution
HighRadius provided Komar with cloud solutions to automate cash application and deductions processes. The Cash Application Cloud leveraged AI to apply cash swiftly, increasing analysts' productivity. It featured multi-OCR Engine auto-captures for accurate remittance data and automated cash posting. The Deductions Cloud automated deduction coding and dispute management, reducing research time and enabling smarter dispute resolutions. The solution also predicted deduction validity and facilitated collaborative workflows for tracking and approval.
Operational Impact
Quantitative Benefit
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