Use Cases: Manufacturing & Distribution Cash Matching
Our client manufactures manufacturing and sells safety equipment. Between sales to distributors and online transactions amazon, the matching process of received payment occupies a team of full time resources which perform these tasks daily. The process also requires all matching to be processed and balanced daily in order for downstream processes to start.
The Challenge
Time: A large amount of time spent every day to match payments to orders
Complexity: Payments are accounted for by distributors through multiple transaction portals and bank transaction records
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Quality: The process is extremely tedious and prone to human error requiring multiple checks and balances and often results in multiple adjustments and re-entry.
Automation
FIT
Resources: Automation frees up 80% of the teams required to process daily
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Quality: There is a higher than acceptable error rate resulting in accounting issues and additional labor to match by the team
High Volume: Processing over thousands of transactions daily and millions of dollars of transactions
OutcomeUS
Cost Savings: 80% of resource costs savings
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Throughput: Process timeline previously completed by end-of-day or sometimes next day reduced to all matching complete by late morning
Quality: Error frequency reduced to under 2%