Spectrio automates manual processes with Cash Application Manager
Customer Company Size
Large Corporate
Region
- America
Country
- United States
Product
- Cash Application Manager
- NetSuite
Tech Stack
- NetSuite
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Productivity Improvements
- Cost Savings
- Customer Satisfaction
Technology Category
- Application Infrastructure & Middleware - Data Exchange & Integration
- Functional Applications - Enterprise Resource Planning Systems (ERP)
Applicable Industries
- Professional Service
- Retail
Applicable Functions
- Business Operation
- Sales & Marketing
Services
- System Integration
About The Customer
Spectrio is one of the nation’s leading end-to-end technology-enabled audio and video marketing companies, providing professional content and managed services on a monthly subscription basis. Their solutions, consisting of On-Hold Messaging, Digital Signage, and Overhead Music, enable clients to engage, educate, and entertain their customers across all customer touchpoints. Their clients include Whole Foods Market, Bridgestone, Papa Johns, Jiffy Lube, and other leading brands.
The Challenge
Similar to many companies, Spectrio manually processed cash application. With a monthly subscription business model, Spectrio processed about 3,000 check payments per month. Even after setting up a lockbox account with their bank, a full-time employee spent 30+ hours per week on data entry to manually reconcile lockbox reports against invoices in NetSuite. This was in addition to hours spent in investigating discrepancies and correcting data entry errors. Furthermore, Spectrio had to wait until close of business to view cash flow and payment statuses. These challenges were at a time when the company was facing rapid growth.
The Solution
Having used other Celigo solutions, when Cash Application Manager first became available, Spectrio jumped at the chance to use the product. They were particularly interested in how the solution was out-of-the-box without requiring IT support. Working with the Celigo team, they were able to quickly install and configure the solution. Once implemented, payment files from their bank were automatically and securely loaded into NetSuite. The payments were matched with customer invoices and credit memos automatically created. Payments that could not be matched were flagged and Spectrio could drill down and quickly investigate.
Operational Impact
Quantitative Benefit
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