Deductions Management

Deductions volumes have been growing over the years, making it more challenging for companies to handle the work with existing resources. Some of the major issues that AR leaders are facing in deductions management are Cross-department cooperation, Inefficient processes, Access to information, Lack of resources, Senior management buy-in.

Companies will continue to lose millions of dollars if the gaps in deductions research, write-offs, and invalid deductions processes are not identified and filled.

Deduction management module of the SRM suite provides automation, standardization leading to shortened dispute resolution cycle time, eliminate invalid deductions and reduce processing costs.

FEATURES

  • Workflow-based Resolution feature activates appropriate workflow based on the reason codes and assign appropriate dispute owners, automatically engaging them in the resolution process.
  • Alerts, Reminders, escalations and delay warnings through email notifications, resulting in a timely resolution.
  • Automatic credit-debit matching for partial and full matches enabling processing of high-volume deductions.
  • Root cause analysis and trend analysis using AI/ML to get actionable insights on customer management strategies or internal operations.

BENEFITS

  • Reduction in days sales outstanding (DSO) through timely dispute resolution.
  • Overall reduction in dispute and deduction volumes through root causal understanding and eradication.
  • Reduction in days deductions outstanding (DDO).
  • Increase in deduction recovery rate.
  • Refine customer’s account statements to achieve a cleaner portfolio.
  • Significantly reduce the aggregate effect of a long tail of small deductions.
  • Automation allowing deduction managers to focus on higher value research & analysis.

STREAMLINE
YOUR DEDUCTION PROCESS.

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