Case Study:

Unified Customer Portal + EIPP

Objective

Automation of customer onboarding, credit control, claims management, helping client get cash flow visibility and providing a platform to the customers for digital payments.

Background

A diversified group with businesses in Textile & Apparels, FMCG, Engineering and Prophylactics in national and international markets. With over a billion consumers, the brand has been growing since 9 decades. Their operations are spread over 1100 exclusive stores in 380+ cities, 20,000+ points of sale and 5,000+ dealers/ distributors across the country.

The Challenge

  • Digital Challenge: The organisation has legacy customers which made it difficult to bring them to a digital payments platform. The Customer base is very big and manual intervention at such scale is not sustainable.
  • Credit Control and Claims Management:  Currently credit control and exposure of a customer is maintained in the ERP and decision of blocking/ unblocking of a customer across related entities is done manually. Customers have to reach out to the ASM/RSM’s for raising claims and have to constantly follow up for status of the claims.
  • Credit Notes: Adjustment of credit notes across multiple buyer codes for the same business division.
  • The inability of the Dealers/Distributors to view real-time outstanding: The dealers did not have a live view of all outstanding obligations & credit notes. They had to seek support from the Raymond Finance or Sales team to get their customer ledger before making any payments to Raymond.
  • Reconciliation: The finance team had to get in touch with the customer or agents to understand the payment made before knocking off the entry in the ERP.
  • Customer Onboarding and Management:  The physical process of onboarding new customers is very cumbersome and time consuming. Maintaining the mapping of customers across multiple lines of business is another key challenge.

Our Solution

Global Payex proposed a multi-tiered Unified Digital Platform (UDP) with a front-end responsive web portal that would source data from the backend ERP instances to automate subsequent business processes and present the data in a consolidated manner.

  • Customer onboarding Automation(COM Module): The physical process of customer onboarding was automated. Additionally, it also helped the client to maintain a mapping between related business entities of customers.
  • Credit Monitoring & Control (CMC Module): The module presents consolidated views of customers across multiple lines of business. Reports and alerts are being generated based on set credit benchmarks. It also enables the administrative users to manage blocking and unblocking of customers across the landscape based on set credit policies.
  • Claims Monitoring & Management (CMM module) : This automated the process of raising and processing claims. It enabled a clear process with set timelines and approvals to expedite claims. The monitoring mechanism facilitates transparency of the claim handling procedures to the customers.
  • Dunning: Freepay provided automated email and SMS reminders, in-app notifications to all the customers for all the new, due and overdue invoices.
  • Payment & Reconciliation Automation: Freepay automated the presentation of the payments to the Bank (with accurate cd calculation and applications of credit notes) as well as reconciling the successful/failed transaction back to the ERP. This eliminated significant man-days of effort and reduced the risk of manual errors.
  • Realtime outstanding view to Customers: The dealers were given an interface (Web & App) to view invoices & credit notes & pay any time from within Freepay and it was automatically reconciled back at the ERP leading to short TAT for clearing credit lines. Also, the application shows them a real-time view of the customer ledger of all pending and overdue documents.
  • Live MIS across Business Functions: Live MIS dashboards have been provided to Finance and Sales teams at various levels to view real-time outstanding obligations and payments made by their respective customers.

 

The Results

We were able to build a state of the art solution that will help the client in the digital transformation of the current process and automate the current challenges, thus saving valuable time for the finance, sales team.

By deploying Freepay, the client was able to not only simplify and improve their existing receivables processes but also set up a platform to expand and on-board other non-ACH customers with a comprehensive customer experience offered. 

Outsourcing Cost for Recon

%

Improvement in Weekly Debit Rate

%

Effort Reduction

Let’s facilitate your AR / AP cycles, shall we?