The first question that we have is, are we using any out-of-the-box reporting tools for your order to cash process, right? You could be using your backend EIRP powered things or Power BI or any other Tableau front-end things. You know, are you using it? Are you relying on more traditional Excel-based metrics and reporting tools? And the next question that we are asking is, does your current reporting approach provide you real-time visibility into your day to day operations of your department? Right? We are looking for two elements, right? We are looking for day-to-day. And it should be real-time. If you can answer that also.
Okay, I’m recording that. And the final survey question is after you have implemented HighRadius, have you incorporated the new features and the metrics to actually report new KPIs? Or are you still kind of reporting older KPIs, which are before automation and other autonomous tools were introduced? Because that would be a key feature that you could start building a new KPI upon?
Okay. All right. Once you’re done, we can move on to what will be what has been our biggest lessons learned when we do a similar kind of survey on our user base. So when we polled our AR leaders, they like the top questions that they’ve always wanted answers for, or they’ve always kind of asked us for help, or we’ve also found out from the various surveys are, what does my productivity have my collectors? It’s not just electing fast, they want to know by the user, by the user group, how are they working on their productivity elements? Because automation does help with productivity gains and coming to kind of deductions right now we are you will be able to see what’s your aging analysis of your deductions? And you also want to know, among your debt reduction, members, how, how efficiently are the doctors working? What’s their efficiency, like, again, down to the user level? and cash application? Obviously, the common metrics that we always use are, what’s my hit rate, and you want the hit rate at a double click level, you don’t want the hit rate at a very broad stroke number you want to know by various filters and various elements? How do the hit rate changes happen? with that? We will kind of like now show you what are the various analytics that hydrators has built-in over the span of time, it is evolving, we are taking constant inputs from the customers and improving it. And very likely all the answers that you’re asking for asking or you’re looking forward they are there. You just have to be able to know and that know that analytics does give you those answers. They’re among the top Analytics reports that we have. The customers that love to use are the three top one’s collections, activity analysis, cash applications, hatred, analysis, and deductions, aging analysis, these are the top three dashboards, I’m going to go into a dive live demo, but because of technical challenges, we won’t be able to do a live demo, but I will quickly walk us through the various slides.
You know, this is your slides for logging in, I will just quickly through analytics will be unable to you on your main navigation tab. And if it is not working with your admin to have it enabled for your role. And under the analytics, you will see that you can always you know go to various reports and have them saved to your favorites for faster now being patient. First, let’s have a quick peek at the collections analytics. This is your 360 view of when you could go to the standard navigation collections you have areas aging and Aquilina Analysis dashboards. And there are a few more reports underneath that. Today, we will be kind of focusing on the activity analysis dashboard. In here, you will be seeing, in this dashboard view, you’ll be seeing the volume value trends of your collection activities, right? Because the collection module is tracking by the user, what kind of actions they are taking, are they creating payment promises to pay? Are they recording? notes? are they sending correspondences? Are they making phone calls, so all of these notes and activities, and who are your big collectors or your analysts who are putting the most amount of activity in the system, and you can break it down by I couldn’t really do a live demo. But this bar is by weeks, you can always pinch and scars zoom in to kind of show you by the week view, all of those kinds of like, you know grouping and it’s a sliding time scale, you can choose to set a time scale that you wanted to report on. And what does this show? What does it contain right? When you are doing your weekly team reviews, you are doing your monthly business review with your team members, you want to know what is your election steam day-to-day activities? Like how many minutes? Or how many hours are they spending upon certain customers, and what kind of actions are they doing to perform or engage with the system. So your activity analysis shows exactly that and then gives you the insight as a business leader to kind of help your team becomes more proficient and efficient.
And another thing within this activity analysis dashboard you can see that you can see big collectors’ equities in the past 90 days that are unique. And obviously, as I said is the time scale which you can pinch and zoom in. Also down here it gives you the activities in a grid view you can sort filter by the customer. So you know for this customer, you have had the most number of correspondences, because you have to kind of correspond and interact with the customer a lot more to kind of get the invoices paid on time. So that’s kind of elections. Again, another pro tip is a lot of the reports that I read it has an analytics dashboard, you can schedule them. This is something that our business leaders like when you are doing your weekly or monthly Business Review internal team reviews, you probably want to just be able to have the schedule filters give you the report in an email for quick digestion. With that, let’s move on to the cash application. When you come under the navigation go to cash application. This is your standard dashboards and reports 360 view. Today we will spend time to look at your hatred analysis. Trade analysis is your automation success rate that you can see at your cash application at two levels at the height at the header and the item level. One good thing I enjoy playing with this report and actually walk through the discovery journey with my accounts is that you can click on the various bars and see what is dragging your automation down. For example, right again, this is just a screenshot and we are not able to interact with the system live, you are seeing that the hatred and like the header level hit rate is 81%. What I really wanted to click was on check customers or check payments and that hit rate from 81 drops to 77%. So there you go, you know that you have a problem child that you would want to give a little more attention to. And then not just from a payment method you can break it down by your company codes for let’s say you have a foreign currency company bank account which has lot more challenges. You can do it by the remittance source. So you kind of really do an interactive, dive into your customer payment at least to find trends. We see that OCR is always a problem. It does lower efficiency. But if you can convert a customer from OCR, you move them to an email or dti, that hit rate from 77% jumps 20 percentage points and you are in the upper Upper 90s. And that’s great efficiency by a small engagement with the right it person or with the business team members to say, hey, I want to move you from check to an CH let’s talk about that. What does it take for you to move to a move away from checks, it is most likely a simple conversation, it’s just a matter of us to kind of quantify how that changes your automation levels. So this is a great dashboard to actually visualize that change. Again, this is just the various features the like summary bar with the numbers, you can filter by the various types of payment methods and other features and the header level hit rates and item level hit rates. And another thing that we’ve always found is that the business leaders have always said, Hey, the analytics tab is hidden somewhere, and I want to go to it quickly. Or they just would want to be able to use that as their landing page. Yes, it is possible, you can go to your user preferences, set analytics as your default tab. And every time that you log in, boom, you are on analytics, you don’t have to have to do a couple more clicks anymore. It takes you right there. We will close up with deductions, operations, deductions, we do have very powerful analytical tools that kind of help you.
The deduction aging analysis does give some insights to the business leaders to kind of break down where they need to refocus their team’s energies to kind of get those past due collections, rather not passive, but aged deductions collected or lost out. So the analysis, the aging analysis dashboard shows you by buckets, right? The volume and then we show Oto by the different buckets. So you can kind of see that you really don’t want to have above 90 days to be really large, you want to keep it gradually reducing. And then you also know which processor is or which user is overburdened by deductions that help you to kind of reprioritize their work or manage their workload or give them extra assistance. And also by your top 10 customers who are your heavy day doctors? Or how, how do you work with the sales and other leaders to kind of reduce your top 10 customer reductions.
And not last but the least reason codes. You can do filtering by the customer and reason codes to see victories and codes are aging farther out by your invalidates your invalid is usually age to the longest. But apart from the invalid, the valid reason codes, what’s the aging trending like? So that would be a good analytical viewpoint that you can use from our interactive dashboards. And with that, I’m going to summarize our, you know, just pro tips on how to make analytics more easier. work for you faster. You know, these are our tips. And with that question and answers if anybody has any questions about analytics or anything beyond what I showed, happy to answer. Hi can to Aaron’s question, is analytics included or is it something that you have to purchase? That’s a question that I won’t be able to answer without assistance. But usually, our analytics is not something that you would have to because of cash collections. As you grow each module, the analytics behind it gets updated, right? We do have other like dot one performance other analytics on steroids and other things are the other ones are on our future roadmap. But analytics should be enabled for all of us. Yep. And then it takes it. And it takes once you go live, usually on day one, analytics will be black, because it needs to actually run on some live data for a couple of months to actually start showing you these insights. So it takes a while for us to you know, when we’re doing the hyper care transition, that’s when we start capturing your baseline numbers. The data could be small, but that’s the starting point. So I know that you are about to start on your collections journey so so maybe you can start keeping an eye out for that early on but then wait for a couple of months to stabilize before you really see your numbers.
