Case Study: LifeStraw achieves 98% straight-through cash posting with HighRadius RadiusOne Cash Application

LifeStraw achieves 98% straight-through cash posting with HighRadius

Lifestraw, a manufacturer of water filtration devices, faced significant challenges with a lengthy and inefficient manual cash application process. This resulted in a large backlog of unapplied cash and an inability to track invoice and payment status in real time. To address this, they leveraged the Cash Application App from HighRadius.

By implementing HighRadius's solution, Lifestraw automated the aggregation of remittance data from multiple sources and the application of cash to invoices. This resulted in a 98% straight-through cash posting rate, a 75% increase in employee productivity, and saved 224 man-hours per month. The HighRadius platform provided real-time tracking insights and eliminated their processing backlog.

Lifestraw