Tien Anh Nguyen
Chief Business Officer, UserTesting
AI and Augmented Humanity
UserTesting enables every organization to deliver the best customer experience powered by human insight. With UserTesting’s on-demand Human Insight Platform, companies across industries make accurate customer-first decisions at every level, at the speed business demands. With UserTesting, product teams, marketers, digital and customer experience executives, designers, and UX researchers confidently and quickly create the right experiences for all target audiences, increasing brand loyalty and revenue.
As a fast-growing technology company, UserTesting customers include more than half of the world’s top brands. UserTesting had a largely manual collections and dunning process as each customer’s invoices were manually processed. As a result, the finance team was inundated with hundreds of invoices per month, slowing down the invoicing process considerably and increasing the time and effort required to collect customer payments and maintain healthy cash flow metrics such as Days Sales Outstanding.
The rapid growth, while exciting, meant that UserTesting could not adequately support the business without hiring more collections analysts, which meant less investment in other business priorities. UserTesting knew that the investment in additional collections agents would be incredibly costly and set out to find a technology partner to eliminate the need for new hires. UserTesting selected Auditoria.AI, a pioneer in AI-driven automation solutions for corporate finance teams, to streamline and automate the collections process.
Auditoria.AI Autonomous Collections SmartFlow Skills are now on the front lines of dunning, helping UserTesting support its global customers. Auditoria's collector bots automatically collect and process millions of dollars each year in customer invoices while providing real-time visibility into key metrics. Now, instead of a collections agent having to review invoices manually, Auditoria instantly drills down at either an invoice level or at an account level for all collections-related interactions to accelerate and scale the collections process.
With Auditoria, UserTesting has seen monthly cash collection improve by double-digit percentage and almost immediate improvement in Days Sales Outstanding, allowing them to reinvest that cash back into the business to support increased growth. Additionally, UserTesting increased predictability and immensely improved Accounts Receivables productivity with Auditoria Autonomous Collections. While most processes were manual before implementing Auditoria, UserTesting now handles more payments than before, giving finance teams time back to focus on business growth priorities bringing additional value impact to the team.
Built on Auditoria’s SmartFlow Platform, Auditoria.AI Autonomous Collections leverage Artificial Intelligence, Machine Learning, Cognitive Robotic Process Automation (RPA), Optical Character Recognition (OCR), and Natural Language Processing to overhaul Collections function while smoothly executing AR business workflows. Specific tasks include monitoring high-risk accounts, building up incentives and promotions for clients, and mitigating bad-debt write-offs.
While typical SaaS implementations are incredibly costly and time-intensive, the Auditoria implementation was up and running in 20 minutes, providing tremendous time-to-value for the UserTesting team. Additionally, with this streamlined implementation, business users started utilizing Auditoria 35 days earlier than initially planned.
Traditionally, the corporate finance back office has been notoriously slow to adopt new technologies. Auditoria made it incredibly easy for the UserTesting team to roll out new capabilities across the corporate finance back office to help UserTesting stay on top of rapid customer growth while also being an innovator and early adopter of finance automation technologies.
In addition to the metrics mentioned above, collections analysts who were previously inundated with manual work have seen a dramatic improvement in “quality of work life.” Instead of chasing customers for payment, specialists are managing the bots and intervening when required. The redeployment of staff has strengthened business resiliency by allowing staff to perform additional high-level, value-add work. The collections function has never been faster or more accurate.
Auditoria.AI is pioneering the era of Autonomous Finance with an AI-driven cognitive automation offering for corporate finance teams. By leveraging NLP, AI, and machine learning, Auditoria automates back-office business processes and accelerates cash performance in Vendor Management, Accounts Receivables & Collections, Planning, Treasury, and Audit.