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Manufacturing
As orders for new goods slow resulting in unsold inventory and excess capacity and costs for raw materials rise, manufacturing companies are looking for ways to maintain their competitive edge. Reducing their operating costs while maintaining high levels of performance and service through increased automation with RedCapTM is exactly what they are looking for.
Value Proposition: An electronics component manufacturer with $800 million in annual revenue is paying $9,000 a month in lockbox fees for the bank to extract information from of their remittance documents. In addition, they pay five full-time employees to reconcile miss-keyed items and exceptions from the bank.
Within a year, RedCapTM has:
- Eliminated all their lockbox keying fees
- Reduced their in-house FTE requirements by two
- Decreased their time to post by one day, insuring up-to-date customer credit records
Their annual savings are approximately $185,600.
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