Background
This Canadian-owned manufacturer offers a range of food packaging products for retail consumers, food service operators and the packaging industry. The company is headquartered in Eastern Canada and was founded in the early 1930s.
Challenge
This manufacturer’s customers take advantage of a large number of post-invoice discounts related to rebates and promotional activities. The time it was taking to enter deductions in their system was monumental. Each deduction had to be manually set up to be applied to accruals. This was a massive, manual and cumbersome process. In addition, retrieval of payment documents was also a time-consuming process. The company keeps hardcopy payment documents for 6 years plus current, so the space required to store documents was also significant.
Solution
ACI implemented AR Assistant™, its automated AR Cash Receipts solution which allowed deductions to be generated automatically in the client’s AR system. Hardcopy payment documents are also now scanned, auto-indexed and stored on ACI’s Cloud Document Management platform allowing for much quicker retrieval.
Results with Ash Conversions
With the implementation of AR Assistant™, ACI’s automated AR Cash Receipts solution, this manufacturer has been able to virtually eliminate the manual creation of deductions into their AR system, saving significant processing time and increasing accuracy and overall efficiency. The digital capture of payment documents now allows for much swifter retrieval of softcopy. The scanning process has also allowed for the elimination of a significant amount of physical storage space, providing additional cost savings in both physical space and time.
To see a demo of AR Assistant™ and to learn how your organization can benefit from the automation of AR Cash Receipts, click the ‘Request a Demo’ button below.
