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.
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
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.
Resources: Automation frees up 80% of the teams required to process daily
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
Cost Savings: 80% of resource costs savings
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%