AI-powered Integrated Platform to Help Banking clients Manage their Cash Flow and Cash Forecasting
HOUSTON—September 24, 2020—HighRadius, a fintech enterprise Software-as-a-Service (SaaS) company specializing in automating the order-to-cash and treasury management processes, today announced an expanded strategic relationship with Commerce Bank that furthers the financial institution’s digital transformation offering to their clients.
Corporate clients are looking for banks to help them modernize their accounts receivable and treasury operations. As a leader in that industry, HighRadius offers products that help Commerce Bank ensure every client’s needs are handled efficiently.
The companies began working together two years ago and expanded their partnership in 2019 with Electronic Invoice Presentment and Payment (EIPP) and Virtual Card Processing (VCP) tools. The expanded agreement includes the full suite of HighRadius’ Integrated Receivables and Treasury Management products made available to Commerce Bank’s clients.
“Our AI-driven suite of products will streamline the Receivables processes to be more effective and efficient for Commerce Bank clients,” said Sayid Shabeer, Chief Product Officer, HighRadius. “In this digital-first economy, AI is a critical component of their digital transformation.”
“The world is changing more quickly than ever and our opportunity lies in evolving alongside it. To this end, we bring together best-in-class products with exceptional teams dedicated to understanding and accepting our customers’ unique challenges,” Todd Adler, Commerce Bank’s Senior Vice President, Director of Treasury Management Services said. “We’re excited to take our clients through a Digital Transformation journey with our relationship with HighRadius.”
About HighRadius Corporation
HighRadius is a Fintech enterprise Software-as-a-Service (SaaS) company that leverages Artificial Intelligence-based Autonomous Systems to help companies automate Accounts Receivable and Treasury processes. The HighRadius® Integrated Receivables platform reduces cycle times in your order-to-cash process through automation of receivables and payments processes across credit, electronic billing and payment processing, cash application, deductions, and collections. HighRadius® Treasury Management Applications help teams achieve touchless cash management, accurate cash forecasting and seamless bank reconciliation. Powered by the Rivana™ Artificial Intelligence Engine and Freeda™ Digital Assistant for order-to-cash teams, HighRadius enables teams to leverage machine learning to predict future outcomes and automate routine labor-intensive tasks. The radiusOne™ B2B network allows suppliers to digitally connect with buyers, closing the loop from supplier receivable processes to buyer payable processes. HighRadius solutions have a proven track record of optimizing cash flow, reducing days sales outstanding (DSO) and bad debt, and increasing operational efficiency so that companies may achieve strong ROI in just a few months. To learn more, please visit www.highradius.com.
About Commerce Bancshares, Inc.
With $26.1 billion in assets, Commerce Bancshares, Inc. (NASDAQ: CBSH) is a registered bank holding company offering a full line of banking services, including payment solutions, investment management and securities brokerage. Commerce Bank, a subsidiary of Commerce Bancshares, Inc., leverages more than 150 years of proven strength and experience to help individuals and businesses solve financial challenges. In addition to offering payment solutions across the U.S., the Company currently operates full-service banking facilities in nine markets including St. Louis, Kansas City, Springfield, Central Missouri, Central Illinois, Wichita, Tulsa, Oklahoma City and Denver. Commerce Bank also maintains commercial offices in Dallas, Houston, Cincinnati, Nashville, Des Moines, Indianapolis and Grand Rapids. Commerce delivers high-touch service and sophisticated financial solutions at regional branches, commercial offices, ATMs, online, mobile and through a 24/7 customer service line. Learn more at www.commercebank.com.