November 7, 2018
At Smyyth, our goal is to help corporations reduce customer deductions and related administrative costs. Trade disputes cost companies millions of dollars a year and can stem from product shortages, shipping mistakes, pricing mismatches, promotional allowances, and process errors. While customer deductions are frequently viewed as transactional problems and often just a “cost of doing business”, Smyyth understands that these revenue losses tend to be systemic and chronic and demand both a strategic solution for long-term profit improvement, as well as tactical solutions in dealing with the current and ongoing deduction backlogs. Our approach is based in deep industry and subject matter knowledge as well as the employment of top technology.
We offer state-of-the-art technology (Carixa™) for managing credit-to cash operations, as well as expert outsource services (which come with the same advanced technology).
Companies that implement the Carixa™ automation platform as a bolt-on to their existing ERP or financial management software (or used as a standalone SaaS platform) can experience the power of streamlining their deduction management operations via automation and AI that uses an in-depth, unprecedented, and working knowledge-base of trade disputes to bring a long-term fix to this long standing problem.
What Can Carixa™ Do For My Business?
Traditionally, resolving trade disputes requires research, industry know-how, and an understanding of the processes of both the vendor and the customer. When a business chooses to implement Carixa™ technology into their day-to-day operations, they are introducing software that harnesses the power of a robust knowledge base, robotic processes, and industry know-how through traditional and AI-optimized software. End-users can pick and choose the management processes that are controlled via these technologies, which include, but are not limited to:
- Credit Management
- 100% Automated Cash Application
When companies choose the Carixa™ Deduction Management engine, they introduce collaborative workflows that can be optimized by customers and deduction type, and channeling workflow for responsible parties. Carixa™ streamlines these processes by:
- Rules-based operations completing the deduction management process through resolution and recovery. Nothing is overlooked.
- Robotically collecting and processing the required data and documents to verify or reject a deduction, including robotic access to customer and freight carrier websites.
- Automatically reconciling all debit memos, credit memos, and other documents for a higher recovery rate.
By utilizing these functions of Carixa™ to their highest capabilities, businesses can achieve efficient deduction processing, identify and prevent deductions, recover more money, and eliminate most traditional, manual trade-dispute tasks.
Streamline Deduction Management Operations with Carixa™
The Carixa™ Deduction Management system functions to drive internal operations, improving business goal outcomes when implemented as a comprehensive SaaS system or as a bolt-on to pre-existing SAP or management software.
To learn more about how implementing subscription Carixa™ software licensing into your workplace can help improve your operations, call us at 855-982-1475 or fill out a contact form.