{"id":5245,"date":"2022-05-13T18:43:56","date_gmt":"2022-05-13T18:43:56","guid":{"rendered":"https:\/\/www.peeriosity.com\/shared-services\/articles\/?p=5245"},"modified":"2022-08-23T10:33:59","modified_gmt":"2022-08-23T10:33:59","slug":"implementing-a-global-cash-application-solution","status":"publish","type":"post","link":"https:\/\/www.peeriosity.com\/shared-services\/articles\/2022\/05\/implementing-a-global-cash-application-solution\/","title":{"rendered":"Implementing a Global Cash Application Solution"},"content":{"rendered":"

Introduction<\/strong><\/p>\n

Implementing any solution on a global basis can be a challenge, and cash application is no exception.\u00a0 Addressing such complex issues as multiple currencies, language barriers, a variety of government regulations, and customers with a large number of diverse locations can extremely difficult.\u00a0 However, the benefits and synergies achieved if this model is properly implemented can be significant, making it worth taking on the many implementation challenges, including a number of customer-facing issues<\/a>.<\/p>\n

Company Experiences<\/strong><\/p>\n

A Peercast discussion in Peeriosity\u2019s Accounts Receivable (O2C) research area<\/a> featured a global company with over $70B in annual revenue discussing their journey to make improvements to the Cash Application process<\/a> by first completing a detailed end-to-end analysis of the process, followed by efforts to centralize work activities where possible, with many of the work activities standardized globally and fully automated using tools including High Radius, SAP Lockbox, Azure, PowerApps, and Power BI.<\/p>\n

The end-to-end process analysis<\/a> included detailed process mapping on a country-by-country basis, with exceptions and differences between countries defined and documented.\u00a0 Next efforts were made to standardize work activities and identify whether activities were transactional or where customer interaction was needed, with a close inspection of the differences between countries or businesses to understand which differences were really needed, and which differences could be eliminated.\u00a0 Finally, based on the type of work activity, transactional work processes were moved to a global delivery model, and work processes that required customer interaction were designed to be delivered either regionally or locally.<\/p>\n

For details, Peeriosity members are encouraged to sign into the members\u2019 area to view the complete presentation and listen to the recorded Peercast.<\/p>\n

iPolling Results Review<\/strong><\/p>\n

The results from a recent Peeriosity poll provide some interesting detail surrounding company practices related to the application of customer payments.\u00a0 The first question looked at the geographic scope of the cash application solution, with the global design being the most popular with 43% of the responses.\u00a0 This was followed by the multi-regional design (13%), a single region with 13%, a multi-country with 13%, and a single country with 18%.<\/p>\n

\"iPolling:<\/p>\n

The second question then addressed the status of implementing a global cash application solution.\u00a0 Looking at the results, 50% have implemented and another 6% have approved doing so.\u00a0 An additional 21% are currently evaluating this approach, while 17% have not yet considered the opportunity.\u00a0 For the remaining 6% the company does not have a global scope.<\/p>\n

\"iPolling:<\/p>\n

Here are some of the additional comments from members:\u00a0<\/em><\/p>\n