Case Study: McCormick transforms receivables management with HighRadius

McCormick resolves 164K+ deductions with HighRadius

McCormick, a global flavor and spice manufacturer with over $6 billion in revenue, faced significant challenges in its receivables process. Its old cash application system was difficult to support, and a lack of standardized workflows threatened data recovery. An unmanageable deductions process made mapping reason codes particularly hard. To address these issues, McCormick partnered with HighRadius for a receivables transformation.

HighRadius implemented an Integrated Receivables solution that automated the process. This provided auto-aggregated remittance, auto-extraction of invoices, and automated tracking. The results were substantial, including achieving zero-touch deductions routing at cash application and creating one unified system for over 200 brokers to resolve all deductions. HighRadius helped McCormick resolve over 164,000 deductions, auto-identify 92% of short payments, and reallocate 56% of resources to more critical tasks.

McCormick