One of the largest independent food distributors in the U.S. has a complex financial operation. The company generates roughly 7.3 million invoices a year and receives about 3.1 million payments annually in both U.S. and Canadian dollars.
By implementing DadePay, the food distributor ensures that all payment data seamlessly flows into a single AR automation platform. This enabled their team to:
- Track cash payments and support payments in multiple currencies
- More easily control its deposit, application and reconciliation activities
- Reduced payment errors
Ultimately, the food distributor has reduced
AR processing costs by 30%
To optimize AR, the distributor sought to:
- Consolidate and scale its AR processes
- Improve processing accuracy
- Reduce AR costs
- Free drivers and sales reps from the inconvenience of in-person customer
- Better track team performance through more comprehensive
Field Payment Capture
By enabling their 5,000 US and Canadian sales reps and drivers with mobile payment capture capabilities, the food distributor freed these customer-facing employees to spend more time on service. This resulted in reduced:
- Trips to the bank and the associated risk and cash flow delays were drastically reduced.
- Risk associated with each bank trip
- Cash flow delays
With integrated deposit and cash application capabilities, DadePay’s Mobile AR solution made it possible for the food distributor to accelerate cash posting and reconciliation for all customer payment types received in person.
THE ROAD AHEAD
The distributor’s AR requirements are constantly evolving, and they work collaboratively with DadeSystems to define new opportunities to improve efficiency and customer payment experiences. The results demonstrate the impact of aligning customer payment capture and cash application technologies to the unique needs of business operations in food distribution.