Case Study: EBSCO achieves automated cash application for 240,000 invoices and $62K in lockbox fee savings with HighRadius

CTRL+F Automated Cash Application for 240,000 Invoices from 35,000 Customers

EBSCO Information Services, a leading discovery and electronic content provider for libraries, was managing cash application for roughly 240,000 invoices from 35,000 customers with a six‑person A/R team. The process spanned checks (52%), ACH/wire (46%) and cards (2%) and suffered from low on‑invoice hit rates, a 50% manual exceptions volume on lockbox-processed checks, $62,000/year in bank key‑in fees, and time‑consuming manual deduction identification and coding (short payments made up 25% of payments). EBSCO engaged HighRadius to evaluate and implement an automated cash application solution (CashApp Cloud / EIPP Cloud).

HighRadius delivered a cloud SaaS cash application solution with AI-driven, custom configurations to automate lockbox processing, parent/child payment mapping, deduction identification and coding, and workflows for payments missing remittance. The implementation eliminated the $62,000 bank key‑in fee, automated application across EBSCO’s 240,000 annual invoices and 35,000 customers, substantially reduced the 50% manual exceptions workload, and automated handling of the 25% of payments that were short—providing faster, scalable cash application with minimal IT dependence.

EBSCO

Carolyn Etress

Director of Accounts Receivable