Not so long ago, at credit and A/R departments not so far away, finance leaders believed electronic payments would reduce payment processing costs and effort.
Unfortunately, teams who accept electronic payments also receive non-standardized, varied electronic remittance from email, email attachments, websites and EDI. Cash application has succumbed to the Dark Side, overwhelmed by the forces of manual data extraction, payment linking, reconciliation and exception handling. Electronic payments now take longer to process than checks!
However, recent developments have awakened a new hope and enabled credit and A/R leaders to take control and automate processing for more than 90% of electronic payments. The answer was not expensive software or a Death Star-sized IT project but a simple “add-on” technology that works with existing cash application systems.
HighRadius Integrated Receivables Software Platform is the world's only end-to-end accounts receivable software platform to lower DSO and bad-debt, automate cash posting, speed-up collections, and dispute resolution, and improve team productivity. It leverages RivanaTM Artificial Intelligence for Accounts Receivable to convert receivables faster and more effectively by using machine learning for accurate decision making across both credit and receivable processes and also enables suppliers to digitally connect with buyers via the radiusOneTM network, closing the loop from the supplier accounts receivable process to the buyer accounts payable process. Integrated Receivables have been divided into 6 distinct applications: Credit Software, EIPP Software, Cash Application Software, Deductions Software, Collections Software, and ERP Payment Gateway - covering the entire gamut of credit-to-cash.
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We have seen financial services costs decline by $2.5M while the volume, quality, and productivity increase.
Colleen Zdrojewski
Trusted By 800+ Global Businesses
HighRadius Corporation
2107 CityWest Blvd,
Suite 1100,
Houston, TX 77042
