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Logistics Company
The Challenge
As a globally recognized international logistics organisation with revenues of over $36 billion, ADEC's client faced considerable challenges with their customers submitting proper payment paperwork. Often, the customers neglected to submit invoice remittance and as a result, the logistics company's daily and monthly balance process was lagging and payments were unable to be processed for immediate deposit. Therefore, not only did the company face audit challenges, but their customer service issues were escalating.
The Solution
With ADEC's decade of experience in tailored solution development, the client was able to select a process custom-fit for their needs. ADEC Solutions now provides the audit and posting process for the client and their customers in an on-line setting, embedded into the client's host system. ADEC employees access the outstanding imaged invoice, payment cheque and customer account information and manually attempt to match the cheque despite the missing remittance slip.
The client has also empowered the ADEC team to short pay an invoice or credit the account as applicable, based on their findings. As a result, ADEC operators are able to match over 90% of the out of balance amounts and the client can reconcile their books in a timely fashion.
The Result
By selecting ADEC, the client took advantage of a dual-platform with both domestic and off-shore operations as over 10M transactions take place each year. The quick ramp up time allowed more funds to entire their account quicker and the entire process is managed from end to end with a direct impact on receivables at a price point much lower than an in-house solution.
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