HighRadius Collections Cloud automates and optimizes the credit collections management process to improve collector efficiency, minimize bad debt write-offs, improve customer relationships and reduce DSO. A cloud-based credit collections management software available in Software-as-a-Service(SaaS) model, Collections Cloud is easy and cost-effective to deploy and maintain.
HighRadius Collections Cloud solution provides a complete set of tools to optimize and automate the credit collections management process and enable the better prioritization of credit collections activities. All the information you need (invoices, dispute information, POD, claims, tracking info, etc.) on each case is automatically presented in a collections work-space and ready for use. With a prioritized work-list, driven by predefined business rules, backup information readily available, and automated dunning correspondence, collectors are able to contact more accounts and centrally track the activity for review and follow-up. The result is a more efficient collections team that contributes to enhanced cash flow and reduced DSO.
- Rules-based Collections Optimization automatically prioritizes and assigns collections activities to analysts based on predefined business rules.
- Integrated Collections Work-space tracks promises-to-pay and tasks and reminders for every account and collection effort.
- Predictive Risk Scoring Model identifies ‘at-risk’ customers who might be current on their account and integrates the risk level into prioritization.
- Dunning Correspondence Automation generates and sends out correspondence packages containing needed documentation based on predefined templates.
- Easy integration with ERP, Accounting, and other systems.
- Increase collector efficiency by up to 30%, freeing up time to focus on higher value activities.
- Reduce Days Sales Outstanding (DSO) by 10%.
- Reduce bad debt write-oﬀs and operating costs.
- Standardize process to rank and manage credit collections activities.
- Enable reduction of risk.
- Limit upfront capital expenditure and minimize the need for internal IT involvement by using a “pay-as-you-use” SaaS solution with a monthly subscription fee.