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Company: IBM, Armonk, New York, NY
Company Description: IBM is a values-based enterprise of individuals who create & apply technology to make the world work better. Today, more than 400,000 IBM employees around the world invent and integrate hardware, software and services to help forward-thinking enterprises, institutions and people succeed on a smarter planet.
Nomination Category: New Product & Service Categories - Content
Nomination Sub Category: eCommerce & Billing Platform
 Nomination Title: IBM High Efficiency Collection Program (HECP)
- Which will you submit for your nomination in this category, a video of up to five (5) minutes in length about the nominated new or new-version product or service, OR written answers to the questions for this category? (Choose one):
Written answers to the questions
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the nominated video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video.
- If you are providing written answers for your submission, you must provide an answer to this first question: If this is a brand-new product, state the date on which it was released. If this is a new version of an existing product, state the date on which the update was released:
The HECP (High Efficiency Collection Program) is an automated all digital (no hard copy printing/mailing is required) accounts receivable (AR) collection program developed within IBM’s accounts receivable Management Platform (Engage AR), maximizing the processing of high volume, low dollar invoices. The HECP optimizes execution of repetitive collection activity such as collection efforts, disputes, and cancellation of invoices. The HECP solution was rolled out in the US in July 2020.
- If you are providing written answers for your submission, you must provide an answer to this second question: Describe the features, functions, and benefits of the nominated product or service (up to 350 words):
Total 350 words used.
2021 brought about a change in how IBM focused from traditional collection, to leveraging automation within their Account Receivable business. Using the AR platform (EngageAR), HECP was implemented allowing our Quote-to-Cash (Q2C) team to minimize traditional collection processes and limiting collector efforts to only escalations and dispute resolution.
Collection Steps: The HECP automation houses its own self-serve administration view. AR Operations professionals have the capability to create, modify, and add new automated collection steps which can be standard or customized to type of product/service uniqueness. This area houses a historical view of collection steps created for checks and balance.
Custom Templates: The custom email feature allows the HECP operations team to self-create and modify letter templates of their choosing, all languages supported.
Automation: When accounts are identified as a HECP Account within EngageAR, an automatic collection letter is triggered. Each automated collection letter links the type of collection (based off brand) and the type of letter (based off collection step). The language in which the automated collection letter should be sent in is identified. The client will receive a collection letter along with the PDF copy of the invoice attached.
The evolution of the automation has allowed the implementation of the delinquency identification, dispute raising, suspension and cancellation of the service through disputes being 100% touchless on selected type of invoices (SaaS), for which there is an end-to-end cancellation process already in place.
Communication Repository: With the HECP Communication Repository, all automated correspondence sent to clients are all maintained here. This component provides the HECP Operations access to not just all automated collection email is sent, but it also confirms if it has failed. This allows the HECP operations to re-send the email if required.
HECP Collector: The HECP Program houses daily measurements (by line count and dollar values) that break out invoice balances and will show what is currently in and out of the automation. The HECP collectors also have specific stand-alone reports such as New Invoices in Automation, and End of Process Reports. HECP Collectors can add/remove an invoice from the automation program directly within the HECP program.
- If you are providing written answers for your submission, you must provide an answer to this third question: Outline the market performance, critical reception, and customer satisfaction with the product or service to date. State monetary or unit sales figures to date, if possible, and how they compare to expectations or past performance. Provide links to laudatory product or service reviews. Include some customer testimonials, if applicable (up to 350 words):
Total 158 words used.
These are some of the of the key benefits from HECP (USA only):
- Collectors in High Efficiency program handle 3.5X more invoice counts (~1,300 invoices monthly) vs. BAU collection program (~350 invoices monthly)
- A monthly average of 30,000 invoices (debits/credits/cash) run through the program (~$130M of billing)
- 75% of invoices identified as HECP are handled through the automated program
The HECP allows the SaaS identification and cancelation process, this end-to-end automation process implies:
- 60 days of saving time representing a total reduction of the process by a 40%.
- saves 20 minutes of collection time per invoice that needs to fall under the suspension and cancellation dispute process.
Average number of cases per month is 2000, so this represents over 660 hours of saving time for collection teams on monthly basis. The HECP communications repository within EngageAR where copy of all communications is hosted has allowed to sunset other traditional databases and team rooms previously used.
- You have the option to answer this final question: Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):
Total 64 words used.
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