Sailing on Too Many Boats with Deductions: The Land O’ Lakes Story
In this special Case Study, learn how Land O’Lakes analyzed and transformed their deduction operations alongside HighRadius. For a deep dive on topics like this, Join us for the AR Automation Binge on April 8th at 11 am ET
About Land O’Lakes, Inc
A member-owned agricultural cooperative based in the Minneapolis-St. Paul suburb of Arden Hills, Minnesota, focusing on the dairy industry.
Their Challenge
The biggest challenge for Land O’Lakes was that their deductions process was spread across separate systems, namely: Oracle JDE ERP, Revitas for Deductions, Stellent for document management. The procedure involved in deductions management was time-consuming and complex. Cash Application analyst applies cash in Oracle JDE ERP. The deduction is auto-created in Revitas. Deduction analyst researches on the deduction in Revitas If invalid, Denial letter is generated in Revitas, Backups are uploaded into Stellent Customer correspondences are sent via Stellent If valid, apply resolution in Revitas, post to JDE (illustrated below).
An Illustration – Multiple Disparate Systems
They had a lot of interconnected systems.
They needed a solution that could seamlessly blend with them. Additionally, it should be deployed easily, have low cost of integration and should be compatible with the latest software, not to mention eliminate low-value manual tasks.
How HighRadius and a Deductions Cloud Helped
Ready-for-Research on a Single Screen: All information for a particular deduction is available in a single place. The first thing a deduction analyst does at the beginning of the day is to check the worklist. The solution generates a worklist which includes the deductions that have been assigned to that person. From there, the analysts can resolve deductions.
Same system for Valid and Invalid Deductions: If a deduction is valid, it is resolved by the system. In case of a dispute, the deduction goes to the correspondence tab in the same window, for sending correspondence to acquire documents necessary for resolution.
In-depth Information Presentment: Basic information about the deduction such as the amount and payment details are captured in the header. Below the header, there are multiple tabs that aid the analyst in closing the deduction. The claim information are automatically captured and linked to the deduction for speedy resolution.
Read the full case study HERE!
About HighRadius
HighRadius is a Fintech enterprise Software-as-a-Service (SaaS) company that leverages Artificial Intelligence-based Autonomous Systems to help companies automate Accounts Receivable and Treasury processes. Their products provide value to a wide range of customers and are especially relevant to industries like consumer products, manufacturing, distribution, energy, and others that sell products or provide a service to other businesses. Customers range from some of the largest global corporations including more than 200 Fortune 1000 companies as well as mid-size enterprises that don’t have the IT resources to consolidate on an ERP platform but still want to automate and streamline their receivables and treasury processes.
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