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Kichler Lighting: Refines AR Processes and Boosts Productivity with HighRadius Solutions
Technology Category
- Analytics & Modeling - Predictive Analytics
- Application Infrastructure & Middleware - Data Exchange & Integration
- Functional Applications - Enterprise Resource Planning Systems (ERP)
Applicable Industries
- Consumer Goods
Applicable Functions
- Business Operation
- Sales & Marketing
Use Cases
- Predictive Replenishment
- Process Control & Optimization
- Remote Asset Management
Services
- Software Design & Engineering Services
- System Integration
- Training
The Challenge
Kichler Lighting faced significant challenges in their Accounts Receivable (AR) processes. The manual nature of their AR function led to time-consuming and error-prone invoice payment processes. Additionally, the company struggled with inefficient past-due recovery due to a lack of time and resources. The limited visibility into the end-to-end AR landscape further exacerbated these issues, making it difficult to manage financial operations effectively.
About The Customer
Kichler Lighting is a market leader in residential lighting design, known for its innovative and high-quality products. Headquartered in Cleveland, Ohio, the company operates within the Consumer Packaged Goods industry and generates a revenue of $62 million. Despite its market leadership, Kichler Lighting faced challenges in its financial operations, particularly in the Accounts Receivable (AR) department. The manual AR processes were labor-intensive and lacked visibility, leading to inefficiencies and inconsistencies. To address these issues, Kichler Lighting turned to HighRadius solutions to enable digital transformation and streamline their AR processes.
The Solution
Kichler Lighting implemented HighRadius solutions to address the inefficiencies in their Accounts Receivable processes. The HighRadius Autonomous Receivables solution enabled the company to automate the invoice payment process, significantly reducing the time and errors associated with manual handling. The HighRadius Cash Application solution improved the cash application hit-rate across multiple payment formats, enhancing the overall efficiency of the AR department. Additionally, the HighRadius Collections solution streamlined the past-due recovery process, allowing the company to allocate resources more effectively. The integration with the company's ERP system provided enhanced visibility into the end-to-end AR landscape, making it easier to manage financial operations.
Operational Impact
Quantitative Benefit
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