Case Study: Lhoist achieves a 67% employee productivity increase with HighRadius Cash Application & Collections Cloud

Lhoist Unlocks $5 Million of Unapplied Cash With Inhouse Cash Application Software

Lhoist, a global leader in lime and minerals, faced a heavily manual accounts receivable operation with roughly 2,000 active customer accounts, 22,000 open line items and $25M past-due A/R. With only a few FTEs handling more than 700 daily line items and 225 checks from seven lockboxes, cash posting, remittance capture and collections were slow and costly. To address this, Lhoist partnered with HighRadius and deployed its Cash Application Cloud and Collections Cloud.

HighRadius implemented AI-driven auto-matching, remittance extraction, automated deductions coding and mass correspondence with centralized tracking, enabling Lhoist to eliminate repetitive clerical work and standardize collections processes. The result: a 67% increase in employee productivity, $70K+ in first-year savings (including $10K saved on collection agency fees), 100% elimination of lockbox/bank fees, a two-day DSO reduction and an 85% hit-rate for check & ACH payments. HighRadius’s solution also improved accounts coverage and reduced credit risk while avoiding additional hires.

Lhoist

Alicia Geades

Senior Manager, Credit & Customer Support