Britannia Supercharges Cash Application using AlgoriQ, Slashing Reconciliation Effort by 90%

The Objective

To boost operational efficiency and accelerate cash application through AI-powered automation.

The Background

Britannia, headquartered in Bengaluru, is one of India's leading food companies and a dominant player in the biscuits and bakery market. Britannia serves both urban and rural markets with a diverse portfolio that includes biscuits, cakes, dairy products, and packaged foods under iconic brands like Good Day, Milk Bikis, and Marie Gold. The company reaches over 5 million retail outlets through a network of 15 company-owned facilities and 35+ contract manufacturing units across India.

The Numbers

0%

Reduction in Manual Efforts for Reconciliation

0%

Faster Cash
Application Cycle

0%

Increase in Finance Team Productivity

The Challenge

Britannia's accounts receivable process was entirely manual, requiring a six-member team to manage modern trade receipts. This labor-intensive system demanded considerable time for payer identification, line-item reconciliation, and deduction calculation, leading to operational inefficiencies and increased risk of errors in financial processing.

01 Limited Ability to Extract Outstanding Payments Data by Customer Type

The team faced challenges in filtering and retrieving outstanding receivables based on customer segments. This lack of segmentation hindered targeted follow-ups and delayed decision-making.

02 Difficulty in Linking Sales Return Deductions to Specific Invoices

Sales return deductions were difficult to align with the corresponding invoices, which made revenue tracking less straightforward and required additional reconciliation efforts.

03 Disjointed Approval Process Across Internal Departments

The approval processes for disputes and deductions lacked alignment among the internal Sales, Finance, and Logistics teams. It led to delays in resolution, coordination issues, and inefficiencies in overall receivables management.

Our Solution

Britannia chose to implement Global PayEX's AlgoriQ, an AI-powered cash application automation solution, to tackle its finance roadblocks

01 Increased Visibility with Live MIS Dashboards

The dashboards gave a unified view of outstanding payments, deductions, and resolution status. It allowed Britannia's teams to monitor receivables proactively, spot bottlenecks quickly, and drive data-backed decisions.

02 Faster Reconciliation with AI-Driven Cash Allocation Engine

This engine automatically matched incoming payments with invoices and credit notes in real-time, with continuous learning. It minimized manual effort, reduced unapplied cash, and ensured timely and precise reconciliation.

03 Elimination of Manual Data Entry with AI-Driven Parsing

The AI engine parsed remittance advice in all formats (PDF, Excel, etc.) and extracted relevant data instantly. It replaced tedious manual entry, saving time and reducing human errors in processing.

04 Seamless Financial Posting with Automated Knock-off in SAP

The system automatically posted knock-offs for matched payments and invoices, tagging deductions and routing them to relevant team members—eliminating manual intervention and ensuring smoother downstream processes.

05 Improved Customer Hierarchy Mapping with Automated Payer and Type Identification

The solution auto-identifies payer child codes, mapping them to the parent code and identifying their type to begin reconciliation. It enhanced visibility into account hierarchies and improved the accuracy of receivables reporting.

The Results

Britannia achieved remarkable success through cash reconciliation automation with AlgoriQ. What once required a six-member team and significant manual effort for cash application is now a streamlined system driven by intelligent automation completed in minutes. By digitizing reconciliation and eliminating manual intervention, Britannia freed up critical finance bandwidth, accelerated cash application, and improved accuracy.

This shift has led to optimized working capital utilization, enhanced cross-functional collaboration, and a scalable foundation to support the company's ongoing growth and market leadership.

“A highly adaptable solution that has transformed the way we do business”

We have been using FreePay since 2017 and the improvement and efficiency it has brought in our collections and account receivables management has been remarkable.

FreePay has helped deliver electronic invoices to our Channel Partners in real time, process payments with all our business terms plugged in and taken care of our end-to-end customer account reconciliation.

Our Channel Partners have also been very appreciative of introducing FreePay to them especially for its feature capabilities, ease of use, transparency and customer support, without adding any cost to them.

Joseph Selvakumar , Vice President – Commercial ,

V-Guard Industries Ltd.

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0%

Reduction in Manual Efforts