Name: Automating Deduction Management
Uploaded: 2023-11-20
Duration: 4 min 17 s
Description: Automating Deduction Management. "Enhancing Efficiency with HighRadius Deductions Cloud" Souhardya Ghosh 2005132.

Automating Deduction Management. "Enhancing Efficiency with HighRadius Deductions Cloud" Souhardya Ghosh 2005132. 

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"Enhancing Efficiency with HighRadius Deductions Cloud"
 Souhardya Ghosh   2005132

[Audio] Considering the growing complexity of deduction management in the modern business world, it is crucial to have access to technology that can automate this laborious process. The HighRadius Deductions Cloud enables you to modernize your deduction management, saving you time and resources while increasing efficiency. It provides essential data such as BOLs and PODs, giving you the advanced tools required to make swift and well-informed decisions.. 

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In Business to Business (B2B) scenarios, retrieving backup  documentation for deductions and collections is labor intensive  and time consuming. Specialists must manually find, retrieve,  and print debit memos for hundreds or thousands of deductions  and then find the corresponding backup documentation, for  example Bills of Lading (BOL) or Proofs of Delivery (POD). This  information is pulled from external sources such as freight  carrier websites one document at a time.

[Audio] HighRadius offers Deduction Cloud to streamline the deduction process, leading to shorter resolution cycle times, lower processing costs and higher recovery rates on invalid deductions. Deduction Cloud captures the deduction data from customers and provides the information necessary for resolution. Manual research is reduced as appropriate documents like Proofs of Delivery and Bills of Lading are linked to the deductions automatically. This tool helps manage deductions efficiently and increases the company’s recovery rate.. 

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HighRadius offers a Deduction Cloud which enables a proactive  deduction management operation which aims at streamlining  the process, shortens resolution cycle time, reduces processing  costs and increase recovery rates on invalid deduction. A very  significant role of any Deduction Management System is to  capture deduction data from customers and supply the  information required for resolution. Backup documentation,  such as Proofs of Delivery (PODs) and Bills of Lading (BOLs) are  captured automatically and linked to the corresponding  deductions to reduce manual research.

[Audio] Deductions Cloud from HighRadius provides a comprehensive set of automated solutions to streamline receivables and collections management. Automating deductions management allows companies to optimize cash flow and reduce costs. It allows for accurate deduction trend analysis and quickly resolving disputes. HighRadius Deductions Cloud also efficiently manages the whole dispute lifecycle, giving visibility into each element of the dispute's flow. Such technology enables businesses to concentrate on providing more value and better customer satisfaction.. 

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Collections management as well as the Discounts and Dispute  settlement systems can be highly automated and synchronized with  each other to deliver a complete solution for managing the Cash flow  in the Accounts Receivables section of the Financial Supply Chain  Management (FSCM) for every business.

[Audio] Automation has become an integral part of modern businesses embracing digital transformation. HighRadius Deductions Cloud provides a revolutionary solution to manage and process deductions - leveraging an advanced web aggregation engine to identify, capture, and index claims from paper submissions, emails, EDI, customer websites and other sources. This allows businesses to automate their deductions process and drastically improve their efficiency.. 

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Claims & POD Automation is driven by a robust web aggregation  engine that identifies and captures the documentation needed for  managing collections and deductions.The solution collects and  indexes claims from paper submissions, email, EDI or customer  websites and automatically traverses through other websites to  retrieve backup documentation,

[Audio] Automation is used to manage deductions through HighRadius Deductions Cloud, a powerful software suite which makes deduction management easier and more efficient. Its data aggregation engine automates the monitoring of websites, emails, EDI, and paper submissions. It also offers auto-attachment, collation, document linking and storage features so that users can quickly and easily reference or use necessary documents. In addition, its HR portal allows clients to access deductions from any customer portal after logging in. HighRadius Deductions Cloud simplifies deduction management and improves efficiency.. 

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Data aggregation engine automates the monitoring of relevant websites, email, EDI,  and paper submissions Auto-attachment matches backup documentation to the relevant collections or  deduction case. Document storage provides an image of the original document for reference or  disputes. Collation – We pick up all item levels of same invoice number and club them  together. Document Linking is done based on invoice number  Document storage provides an image of the original document HR portal-Client can download claims from every Customer portal just by logging  into HR portal.

[Audio] Businesses are increasingly looking for solutions to streamline their deductions management process. HighRadius Deductions Cloud provides an automated solution to reduce the manual work and free up specialists to concentrate on higher value activities. This Cloud helps to expedite deduction research and settlement processes, resulting in reduction of Days Deduction Outstanding (DDO) and Days Sales Outstanding (DSO). In the long run, it boosts efficiency as the specialists can utilize the time saved to perform further analysis and research.. 

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Eliminate manual tasks that consume 20-40% of a  specialist’s time, allowing them to focus on higher value  research and analysis.
 Reduce Days Deduction Outstanding (DDO) by speeding  deduction research and making backup documentation  readily available for settlement. Reduce Days Sales Outstanding (DSO) by speeding up  payment.

[Audio] Concluding, automating deduction management offers a multitude of benefits such as eliminating manual labor, cutting costs, and providing customizable workflows. This makes automating the deduction resolution process more effective and efficient than traditional methods.. 

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Scope An automated deduction process goes through the same  procedure as the manual deduction system but is able to  aggregate claims and PODs at a much faster speed. Speed-up deduction resolution is possible with  customizable workflows As the Claims and POD Automation develops, it will  eliminate most of the work of valuable human resources  at the Client’s end, avoiding errors, freeing up resources,  and reducing costs.

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Automating  Deduction  Management

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Considering the growing complexity of deduction management in the modern business world, it is crucial to have access to technology that can automate this laborious process

The HighRadius Deductions Cloud enables you to modernize your deduction management, saving you time and resources while increasing efficiency

It provides essential data such as BOLs and PODs, giving you the advanced tools required to make swift and well-informed decisions.

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HighRadius offers Deduction Cloud to streamline the deduction process, leading to shorter resolution cycle times, lower processing costs and higher recovery rates on invalid deductions

Deduction Cloud captures the deduction data from customers and provides the information necessary for resolution

Manual research is reduced as appropriate documents like Proofs of Delivery and Bills of Lading are linked to the deductions automatically

This tool helps manage deductions efficiently and increases the company’s recovery rate.

Deductions Cloud from HighRadius provides a comprehensive set of automated solutions to streamline receivables and collections management

Automating deductions management allows companies to optimize cash flow and reduce costs

It allows for accurate deduction trend analysis and quickly resolving disputes

HighRadius Deductions Cloud also efficiently manages the whole dispute lifecycle, giving visibility into each element of the dispute's flow

Such technology enables businesses to concentrate on providing more value and better customer satisfaction.

Automation has become an integral part of modern businesses embracing digital transformation

HighRadius Deductions Cloud provides a revolutionary solution to manage and process deductions - leveraging an advanced web aggregation engine to identify, capture, and index claims from paper submissions, emails, EDI, customer websites and other sources

This allows businesses to automate their deductions process and drastically improve their efficiency.

Automation is used to manage deductions through HighRadius Deductions Cloud, a powerful software suite which makes deduction management easier and more efficient

Its data aggregation engine automates the monitoring of websites, emails, EDI, and paper submissions

It also offers auto-attachment, collation, document linking and storage features so that users can quickly and easily reference or use necessary documents

In addition, its HR portal allows clients to access deductions from any customer portal after logging in

HighRadius Deductions Cloud simplifies deduction management and improves efficiency.

Businesses are increasingly looking for solutions to streamline their deductions management process

HighRadius Deductions Cloud provides an automated solution to reduce the manual work and free up specialists to concentrate on higher value activities

This Cloud helps to expedite deduction research and settlement processes, resulting in reduction of Days Deduction Outstanding (DDO) and Days Sales Outstanding (DSO)

In the long run, it boosts efficiency as the specialists can utilize the time saved to perform further analysis and research.

Concluding, automating deduction management offers a multitude of benefits such as eliminating manual labor, cutting costs, and providing customizable workflows

This makes automating the deduction resolution process more effective and efficient than traditional methods.