ssl martin marietta high radius

WEBINAR

Presenters

Susie WestCEO

sharedserviceslink

Elaine NowakDirector,

Product Marketing And ManagementHighRadius

Tammy LindorfDirector, Shared Services

Martin Marietta

• Send me your question early • Use this opportunity to get the answers/info you seek• The sooner you send me the question, the more likely it will be asked• Remember to stay on for Q&A in the last 10 minutes of the session

Questions

Your copy of the slides

The slides will be available after the webinar at

www.sharespace.digital

• Shared services are evolving from traditional centers for cost-optimization to drivers of value and competitive edge. More and more GPOs are focusing on redefining the value proposition of their shared service centers, by redefining service level agreements, prioritizing talent management, and leveraging digital transformation opportunities.

• Today we explore the next steps for shared services and how Martin Marietta is evolving shared services, why automation is instrumental in the digital future, and their AR automation journey with HighRadius. We explore their AR operational challenges at Martin Marietta before automation, and how they overcame it to achieve faster customer onboarding and 85%+ automatic cash-posting rate

• We will also dive into the evolution of technology in finance: From cloud to AI, and now chatbots and digital assistants-- do not fall behind in the race of digital transformation

Context

Agenda

How Martin Marietta Achieved Faster Customer Onboarding & 85%+ Automatic Cash-Posting Rate

Order-To-Cash 2022: Next-Gen Technologies For The New Wave Of Digital Transformation

About HighRadius

Q&A

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The Next Step For Your Shared Services Maturity

HowMartinMariettaIsFuture-ProofingA/RSharedServicesWithNext-GenTechnology

October20,2020

TheNextStepForYourSharedServicesMaturity

01

PollQuestion

WhatisyourplanforyourA/RSharedServicesIn2021?

A. Leverageourcurrentmodeltodrivefurthercostoptimization

B. FocusonrecoveryfromCOVID-19

C. Leverageourcurrentmodeltoprovidehighervalueandcompetitiveedge

D. Weareyettocreateafixedplanfor2021

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A/RSharedServicesMaturity:WhichIsTheNextModelOfOperation?

Value-CreationModel

Cost-OptimizationModel

What’sNext?

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MovingToTheNextStage– WhatShouldBeDone

Digitaltransformation:ThroughPeople,ProcessandTechnologyevolutionisthekey

DIGITALTRANSFORMATION

PeopleManagementWorkforceevolutionasperthejobrequirements

ProcessManagementStandardizedbest-in-classprocessestiedtotheorganizationalvision

TechnologyManagementNext-generationtechnologycapabilitiesthatsetyouapartinthemarket

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1.CostOptimizeA/RSharedServiceCenters

People,ProcessandTechnologyarecomponentsofatraditionalcostoptimizingSSC

TaskEnablers

SiloedProcesses

RoboticProcessAutomation

COSTREDUCTION

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2.ValueCreatingA/RSharedServiceCenters

Howtheseleversneedtoevolveinordertodeliveradditionalvaluetothebusiness

VALUECREATION

StrategicThinkers

IntegratedProcesses

ArtificialIntelligence

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3.CompetitiveEdgeDeliveringA/RSharedServiceCenters

TheNextStep?Whatifyoursharedservicecentercouldprovideyoucompetitiveedgeinthemarket

COMPETITIVEEDGE

SelfMotivatedPerformers

Robust&ScalableProcesses

AI-PoweredDigitalAssistants

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SharedServicesLeaders’ExpectationsFromTechnologyInA/R

Toachievethevisionofcompetitiveedge,technologiesshouldbeabletoenable:

BettervisibilityacrossbusinessunitswithERP-agnostictechnology

Minimaltransactionalprocesseswithautomationallowingtofocusonstrategicinitiatives

Positivecustomerexperiencethroughresult-deliveryinatime-sensitiveframe

HowMartinMariettaAchievedFasterCustomerOnboarding&

85%+AutomaticCash-PostingRate

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AboutMartinMarietta

• MartinMariettaisanAmerica-basedcompanyandaleadingsupplierofbuildingmaterials,includingaggregates,cement,readymixedconcreteandasphalt

• IsamemberofS&P500Index

• Hasanetworkofover400operationsspanning27states,CanadaandtheBahamas• Hasdedicatedteamsthatsupplynecessaryresourcesforbuildingsolidfoundationsonwhichour

communitiesthrive

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SharedServicesEnvironmentatMartinMarietta

AdoptedSharedServicesmodel

in2015withagoaltoeffectively

integrateacquisitionsandwork

towardsourmissiontobecomea

World-ClassOrganization

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Order-To-CashLandscapeAtMartinMarietta

1EDIFileLockboxesAt3DifferentBanks

Divisionstructurebasedonregionsofthecountry

CashApplicationandCreditReferencesarehandledbySharesServices

CreditandCollectionperformedwithinDivisions

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ChallengesInTheOrder-To-CashLandscape

• EachDivisionhaditsownprocesswhichcausesinconsistencyforsharedcustomers

• CustomersetupwasmanualbasedonaformsubmittedtoMasterDatafromthecreditmanagers

• Obtainingauditsupportfromthefieldtoprovecreditanalysiswasinconsistentanddifficult

CreditandCollection!

CashPostingRateBeforeAutomation:

ForEDI

ForLockboxes

49%

74%

SolutionNeeded:DigitalTransformationOfOrder-To-Cash

02

PollQuestion

WhatstageofA/Rdigitaltransformationisyourorganizationcurrentlyin?

A. PlanningStage- Decidingproductandvendor

B. DeploymentStage- Fixingintegrationsandtestingthesystem

C. Post-GoLiveStage- Evaluatingthenewsystem

D. Havenotautomatedyet

E. Automatedaverylongtimeago

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ChallengesAffectingTheA/RDigitalTransformationProject

ForPeopleManagement

• Transitionfrompeople‘keyingininformation’toamorevalue-addedserviceofanalyzingandoptimizing

• Trackproductivity

!

!

!

ForProcessOptimization

• Understandpainpointsandidentifytimespentoneveryprocessthroughbettermetrics

• Standardizeacrossdepartmentsanddivisions

ForTechnologyDevelopment

• Movefrom‘manual’or‘offline’processandlettechnologydothework

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OvercomingTheA/RDigitalTransformationChallenge:OurStrategy

StagesofadigitaltransformationprojectatMartinMarietta

Identifyingthepainpoints

DefiningExpectationFromTheSolution&

Vendor

GettingStakeholderBuy-In

CreatingASolution

DeploymentStrategy

FosteringChangeManagement

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IdentifyingThePainPointsInOurA/R


Inconsistentcreditcalculation

ManualrecordkeepingandCustomersetup

CreditManagement CashApplication

Mis-keyingbythebankcausingmisapplication

Themanualapplicationprocessforcustomerspayingbyticketsandorstatements

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DefiningExpectationsFromTheA/RSolution


1. Easiercustomerapplicationformcompletion

2. Moresupportbeingmaintainedbythecreditmanagers

3. Standardizedratingprocedure

4. Standardizedcreditapprovalauthority

5. Automatedcustomersetup

CreditManagement

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CashApplication

1. IncreasedAccuracy

• OCRkeepsthebankkeyinginerrorstoaminimal• AutomationsystemmatchesopenA/Rwithincreasedaccuracy

2. ImprovedEfficiency

• Otherthaninvoices,itallowsconfigurationtomatchoncriterialikestatementsandbillsoflading

3. IncreasedCostSavings

• Automationsystemcostslessthanthekeyingfees

• Helpedreducetheheadcount

DefiningExpectationsFromTheA/RSolution


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DefiningExpectationsFromTheA/RVendor


Solutionwasscalableandcouldbeeasilyintegrated

Includedmultipleofferings– Credit,CashApplication,ElectronicInvoicePresentmentandPayment,andCollection

Commitmenttosystemimprovements

HighRadiuswaschosenbasedonthefollowingconsiderations:

CreditCloud CashApplicationCloud

CustomerrecommendationsatHighRadius AnnualConference- Radiance

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GettingStakeholderBuy-In


PresentABusinessCase

WiththeSharedServicesgoaltostandardizeandfindefficiencies,managementwasalreadyopentoanyimprovementsuggestions,soitwasveryeasytoobtainapproval

Changeprovidedincreasedaccuracy&efficiencyaswellasacostsavings

Deploymentplanchangedfromdesigntoactualimplementation.EndedupgoingwithastaggeredimplementationplanwithCreditfirst,followedbyCashApplication.

KeywasensuringITengagementandavailability.Hadtobeflexiblebecauseofcompetingprojects

CreatingASolutionDeploymentStrategy

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Engagedtheteamtounderstandtheirpainpointsandwantsforanewsystem

Includedtheteaminthedesignandtesting

Alignedstaffreductionwithretirementsothattherewasnotconcernsaboutjobsecurity

Solicitedfeedbackandimplementedtheirsuggestionswheneverpossible

Changemanagementisthekeytomanagingthe“people”aspectofautomation:

FosteringChangeManagement

Howtogetyourteamsalignedwiththeideaofautomation

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ResultsAchievedByAutomatingCreditandCashApplicationFunctions

72%49%

EDIHitRateAfterAutomation

84%74%

LockboxesHitRateAfterAutomation

Theremainingdifferenceismadeupof:

• 1%non-A/Rrelatedreceipts• 18%instancesofnoremitorinvalid

informationontheremittance

• 9%undergoingrelatedsystemimprovements

Theremainingdifferenceismadeupof:

• 5%non-A/Rrelatedreceipts• 8%instancesofnoremitorinvalid

informationontheremittance

• 3%undergoingrelatedsystemimprovements

ExploringFutureOpportunitiesAtMartinMarietta

CollectionsManagement

1. Wewantasystemfortrackingwhatthecollectorsaredoing,toseetheirnotesandensuretheyarefocusingontherightcustomers

2. Wewanttohaveabetterwaytocontrolandinteractwithoursharedcustomersacrossdivisionstoavoidconfusion

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ExploringFutureOpportunitiesAtMartinMarietta

BillingandPayments

1. Wewantasolutiontotrackinvoicespresentment

2. Wewanttobeabletooffermoreelectronicinvoicingoptionsforourcustomers

3. Wewantacloudsolutionthatcanactasabackendprocessorforthepaymentscomingonourcustomerportal.This willhelpspeeduptheprocessingtime

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Order-To-Cash2022:Next-GenTechnologiesForTheNewWaveOfDigitalTransformation

RPAVsAIForYourOrder-To-Cash

RPA AIVs.

Needsregularhumanintervention Functionswithoutregularhumanintervention

Mimicsthehumanthoughtprocessbasedonpatterns

Processesdatafedinastructured,semi-structuredorevenunstructuredform

Usesprobabilitiesandvariables

Evolveswithexperienceandexposuretodata

Simplymimicstheuser’sactionsastrained

Processesdatafedinastructuredform

Operatesinadefiniteandstaticenvironment

Runssolelyonrules-basedalgorithms

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RPAForYourOrder-To-Cash

Expectation RealityVs.

RPAonlyautomatestaskswhichdonotrequirecreativity,emotionalintelligence,orcomplexdecisionstrategies

RPAwillfailwherethereareexceptions,unexpectedevents,oranyparticularcases

RPAwillautomatecomplextasks

RPAwillrun24/7withnostops,nobreaks,nosleepingtime,novacations,without

forgetting,omitting,misunderstanding,orunderestimatingerrorsandwithout

encounteringanyproblems

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ArtificialIntelligenceBenefitsInASharedServicesEnvironment

ConsolidatedcreditandcollectionsprofileforacustomerpresentacrossdifferentERPsandgeographies

Singleresourcereachingouttoacustomer- noduplicationofeffort

Judiciousutilizationofresourcesmightmakeitpossibleforyoutoallocatethemtodifferentjobroles

Increasedcollectionproductivityandreducedcost– Credit/ARdepartmentsareservice-providerstothebusiness

LeveragingAIforimprovedcollectionsinasharedservicesenvironment

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Next-GenTechnologyForYourA/R:AI-PoweredDigitalAssistants

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UnderstandingAI-PoweredDigitalAssistantsforA/R

20%ofanA/Rmanager’stimeislostinfindingthereportstomonitor

teamperformance

37%A/Rstaffproductivityislostwhilesimplylookingforcustomerrelated

dataandinvoiceinformation

AI-enableddigitalassistantsempowerARteamswith:

§ Quickcustomerinformation

§ Real-timedataanalysis

§ Futurepredictionsforbettercustomerservice

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SeeLiveInAction:Freeda,AnAI-PoweredDigitalAssistantFromHighRadius

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HowDigitalAssistantsAssistA/RTeams– WorkExperience

ImprovedUserExperience

CustomerInteractionTranscription

CustomerIntentAnalysis

IntelligentSuggestedActions

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ACollector’sDailyWorkboardWithFreeda

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ACollector’sCallWorkboardWithFreeda

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HowDigitalAssistantsAssistA/RTeams– CustomerInteraction





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Live Call Transcription

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HowDigitalAssistantsAssistA/RTeams– IntelligentSuggestioned

Actions





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48

Creationofsuggestedactionsfromthecapturednotes

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Creationofsuggestedactionsfromthecapturednotes

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Followupitemsandrecommendationsforanalyststoapprove

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HowDigitalAssistantsAssistA/RTeams– IntentAnalysis





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TheFuturewithFreeda™

……Andhenceprovedtobeatrustedcolleagueforyouranalysts

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SentimentAnalysisToUnderstandCustomerIntent

• Suggestreal-timequestionstoaskyourcustomeroncalls

• Providesuggestionsonhowtoanswercustomerquestions

• Predicttheprobablequestions thatyourcustomermightask

• Assigncustomerstodifferentsentimentbuckets- positive,negativeandneutral

• Usingvoiceandtonetodetermineintent- willthecustomerkeepapromiseornot,thusallowingyouranalyststotakenecessaryactionproactively

Summary:CompetitiveEdgeDeliveringSharedServiceModel

Best-In-ClassTechnologysuchasAI-PoweredDigitalAssistants

World-ClassUserExperience

CompetitiveEdge

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03

PollQuestion

WouldyouliketoknowmoreaboutA/RautomationwithAI-Powereddigitalassistants?

A. Yes,Iwouldliketospeaktoasolutionexpert

B. Yes,Iwouldliketoreceivesomematerialsforresearchpurpose

C. Yes,butIwouldliketoconnectoncewearebackintheoffice

D. Notatthemoment

About HighRadius

2006

On-PremiseSolutions

2010

CloudSolutions

2014

Artificial Intelligence

2019

AutonomousSystems

2017

StrategicInvestments

Trusted By200+ Fortune 1000

Companies

$ 1 Trillion +transactions processed annually

2020

PERFORMANCE

A/R Suite for Mid-Size Businesses

Series B | $1b+ Valuation

New Products & IP

Credit EIPP Cash App Deductions Collections

Integrated Receivables

Treasury Management

Cash Forecasting

Cash Management

Bank Reconciliation

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Partial List of Customers

58

1000+Finance Transformation Projects

6 continents | 45 countries

Partial List of Customers

Ireland

SwedenNetherlands

Luxembourg

Thailand

ChinaSouth Korea

Canada

United States

Mexico

Costa Rica

Brazil

Argentina

Russia

Japan

South Africa

MalaysiaSingapore

Philippines

Taiwan

Indonesia

Australia

New Zealand

Finland

United Kingdom

Norway

Denmark

PolandGermany

Czech Republic

RomaniaSwitzerland

Italy

France

Portugal

Spain

HEADQUARTERHouston

India

Amsterdam

London

Frankfurt

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Regional Offices● Houston, TX (Global Headquated)● London, UK

Frankfurt, DE● Amsterdam, NL● Hyderabad, India

1000+ Implementations6 continents | 45 countries

Implementations

AmsterdamLondon

Frankfurt

EMEA Regional Offices

Global Footprint

NextFromsharedserviceslink

www.sharespace.digital

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ssl martin marietta high radius

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