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Distribution
Faced with a slow-down in orders and rising transport costs, distribution companies are leveraging technology to not only improve operating margins but enhance their customer's experience as well. Accounts receivables automation with RedCapTM is for a proven model for achieving these results.
Value Proposition: a food wholesaler with $6 Billion in annual revenues receives payments at regional lockboxes as well as at their 19 distribution locations. Keystroke fees from the bank are in excess of $20,000 per month as well as 2 full time employees at each branch are required to process daily payments manually.
Within one year, RedCapTM has:
- Eliminated all their lockbox keying fees
- Streamlined processing and reconciliation time dedicated to stranded payments thereby updating their customers' credit faster
- Freed up one employee per branch to do more important tasks
- Reduced check float and overnight postage fees with remote deposit - improving their Days Sales Outstanding
Their annual savings is approximately $905,000.
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