HighRadius extends its ComplianceRadius SaaS offering with document scanning and OCR capabilities

HOUSTON - August 14, 2007– HighRadius Corporation, (http://www.highradius.com), a Houston-based provider of Vendor Compliance Management (VCM) solutions, today announced that their ComplainceRadius™, an On-Demand Software-as-a-service (SaaS) Solution has been enhanced to include document scanning and Optical Character Recognition (OCR) capabilities. The new capabilities will allow organizations to automate processing of documents such as Debit Memos and Bill of Lading (BOL) that are currently only available in paper formats.
 
“Several retailers still continue to provide chargeback detail information in paper format. It was critical to convert these documents into electronic format as a first step to automating deductions processing”, said Sashi Narahari, President & CEO of HighRadius Corporation.
 
ComplainceRadius™ is a hosted receivables automation solution that enables finance and accounting departments to accelerate payments and chargeback processing by automatically aggregating all the relevant claims, proof-of-delivery (POD), check and remittance information into one centralized repository without requiring any human intervention.
 
New features in ComplainceRadius™ include:

• Remote document scanning capabilities
• Support for a majority of retailers that provide claims in paper format only
• Support for multiple templates per retailer such as returns, debit memos etc.
• Signed electronic Bill-of-Lading documents
• PDF conversion and archiving
• Data normalization capabilities to facilitate auto write-off’s and debit/credit auto-matching

About HighRadius Corporation
HighRadius provides Vendor Compliance Management (VCM) solutions to enable companies to proactively control order-to-cash discrepancies and accelerate dispute settlements. HighRadius solutions complement and extend ERP systems such as SAP by bringing all the information and processes relating to internal departments, service providers such as transportation carriers and customer interactions into a single eco-system to process deductions. HighRadius financial automation solutions enable companies to significantly reduce day’s sales outstanding (DSO), minimize write-off's, lower operating and administrative costs and ensure SOX compliance via accurate revenue prediction.