Using Centreviews RPA Bots, United Legwear & Underwear Co was able to automate its accounts receivables process and create a centralized archive of all receivables information with all documents associated with a transaction linked together.
As a global manufacturer of socks, tights, and underwear, United Legwear Company, LLC has
established itself as a leader in the industry.
People of all ages wear ULC’s garments, which can be found in stores around the world, through major retailers and in their own shops. As ULC grew, it faced some of the same challenges that plague many businesses in the manufacturing and distribution industry.
ULC was experiencing issues with managing a large number of chargebacks and deductions. These incidents were cutting into the business’ profits and affecting cash flow.
The economic pressures on the retail industry increased the number of chargebacks, which affected ULC’s dilution rate. ULC knew it had to do something to stop these chargebacks from reducing its annual earnings.
Looking to boost their recovery process, ULC reached out to chargeback and deduction recovery specialists Profit Solutions Group, Inc. (PSGI). As PSGI began the process to research, dispute and aid in the recovery of ULC’s short payments, they quickly ran into roadblocks – namely a lack of accurate documentation. If they were to be successful, PSGI would have to have access to the paper trail – essentially the complete story of the deal before, during and after its completion. PSGI called on API, their technology partner, to provide the solution.
Centreviews is an ideal solution for ULC, allowing the company to automate its accounts receivables process and create a centralized archive of all receivables information with all documents associated with a transaction linked together.
As ULC began reviewing its excessive chargebacks, the company noticed there was a lack of documentation to dispute the claims. Since essential paperwork was missing, ULC was unable to recover monies that would have been applied directly to the company’s bottom line in many cases. This solution makes it easier for ULC to locate the documents it needs to begin the process of managing chargebacks and deductions.
Once this technology was in place, ULC saw a significant increase in the speed of its recovery process. ULC was so impressed by the technology that the company is now in the process of implementing Centreviews to automate and improve its accounts payable processing.
Recently, ULC gave high marks to Centreviews RPA Bots, emphatically stating that it had brought great value to the organization. When asked how often the company used the new system, ULC staff responded with, “All of the time.” The staff cited the ability to have instant access to information they needed as a big benefit, adding that there was great value in having the documents associated with each transaction linked together in order to pull up any document, click related documents and quickly find all of the documentation associated with a single invoice or order.
Businesses like ULC have found that Centreviews allows them to more easily identify and recoup unauthorized chargebacks and deductions, helping them reduce the amount they lose each month to this activity. In some cases, chargebacks are filed ruthlessly, with a customer keeping a product or service while also not having to pay for it. If proper documentation is provided, a business can win the dispute and protect itself against a loss.