Case Study: Martin Marietta achieves 97% cash application automation hit rate with HighRadius

Martin Marietta achieves 97% automation hit rate with HighRadius

Martin Marietta, a major American supplier of aggregates and heavy building materials, faced challenges due to decentralized processes that caused a lack of standardization and visibility into credit risk. Their team was losing productivity manually aggregating remittance data from multiple sources. To address this, they partnered with HighRadius for its cash application management solution.

By implementing HighRadius's solution, Martin Marietta automated the aggregation of remittance data from emails, attachments, EDIs, and portals. This provided a single source of truth and a 360-degree view of customer profiles. The results were significant, achieving a 97.08% item-level hit rate in cash application automation and a 55% increase in EDI-based automation. HighRadius helped the company process over 500,000 payments efficiently and drastically reduced customer onboarding from two days to under an hour.

Martin Marietta