Case Study: Coty boosts electronic payment processing with HighRadius

Coty boosts automated payment processing by 87% with HighRadius

Coty, a multinational beauty company, faced challenges with its manual accounts receivable processes. Its team lost significant productivity manually aggregating remittance data from diverse sources like emails and portals, leading to a lack of standardization and difficulty in identifying deductions. To address this, Coty partnered with HighRadius to implement its Cash Application Management solution.

By leveraging HighRadius's technology, Coty automated its payment processing. The solution provided auto-aggregation of remittance data and auto-coding of deductions at the source. This resulted in 87% of payments being processed automatically and 95% of deductions auto-coded by the system. The automation led to a 60% reduction in team size across three regions and allowed Coty to reallocate 40% of resources to more critical tasks, significantly boosting efficiency.

Coty