Case Study: Wesco achieves straight-through cash posting with HighRadius Cash Application Cloud

Achieving Straight-through Cash Posting with Artificial Intelligence

Wesco, a Fortune 500 distributor, faced significant inefficiencies in its cash application process. The company struggled with non-standard remittance formats, a lack of bank support, and decoupled payments that required extensive manual reconciliation. To achieve a more sustainable and scalable operation, Wesco turned to HighRadius and implemented its AI-powered Cash Application Cloud.

The HighRadius solution automated the processing of multiple payment and remittance formats, used AI to predict missing remittance data, and enabled automated deduction coding. This implementation resulted in a cash application hit-rate of over 84% across various payment methods. The solution provided Wesco with increased visibility across the organization, improved the timeliness of cash application, and enhanced overall team productivity.

Wesco

Karen Koenig

Director, Customer Financial Services