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Reaping Rewards with Integrated Receivables: The Ardent Mills Story
Technology Category
- Functional Applications - Enterprise Resource Planning Systems (ERP)
- Analytics & Modeling - Predictive Analytics
- Application Infrastructure & Middleware - Data Exchange & Integration
Applicable Industries
- Food & Beverage
Applicable Functions
- Business Operation
- Quality Assurance
Use Cases
- Predictive Maintenance
- Process Control & Optimization
- Remote Asset Management
Services
- System Integration
- Software Design & Engineering Services
The Challenge
Ardent Mills faced several challenges in their cash application, collections, and deductions processes. The cash application process was entirely manual, leading to slow workflows and increased risk of errors. High lockbox fees were also a significant issue. The collections process lacked a standardized strategy for work list prioritization and a central location for customer communications, leading to inefficiencies. Additionally, the deductions process suffered from a lack of visibility into dispute volume and patterns, with data being saved via email, complicating correspondence and resolution.
About The Customer
Ardent Mills is a leading flour supplier and grain innovator in North America, known for its extensive portfolio of traditional, specialty, and whole-grain flours and ingredients. The company operates more than 40 flour mills and bakery-mix facilities, serving over 1,100 customers nationwide. Ardent Mills is committed to innovation and quality, providing a wide range of products to meet the diverse needs of its customers. With a strong focus on customer satisfaction and operational efficiency, Ardent Mills continuously seeks to improve its processes and leverage technology to stay ahead in the industry.
The Solution
Ardent Mills partnered with Highradius to automate their accounts receivable (A/R) landscape using the integrated receivables management platform. This solution provided better visibility into customer payment behavior, eliminated unnecessary lockbox fees, and resolved backlogs from ERP migration. The collections process was improved by segregating customers into risk tiers, using custom email and statement templates, and logging tasks and follow-ups. For deductions, the solution enabled better collaboration between teams, automated data capture and linking, and centralized backup documentation from different sources. Overall, the integrated receivables platform streamlined operations and introduced automation, allowing Ardent Mills to focus on higher-value tasks.
Operational Impact
Quantitative Benefit
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