A ‘Neil Armstrong Moment’ for Working Capital Optimization as HighRadius Launches Integrated Receivables Platform
In an industry plagued with piecemeal solutions for credit, collections, deductions, cash application, EIPP and Payments, FinTech software company HighRadius launched an Integrated Receivables platform at the Radiance 2017 conference.
HOUSTON, TEXAS MARCH 2017 Radiance 2017, one of the largest innovation conferences for credit and A/R professionals, witnessed Sashi Narahari, CEO of HighRadius, unveiling the Integrated Receivables (IR) platform in his keynote as the only end-to-end real-time integrated solution suite for credit, collections, deductions, invoicing, cash application and payments.
The 2017 edition of Radiance attracted a record number of participants over three days to learn from credit and A/R leaders of top companies including Starbucks, P&G, adidas and Danone about technology transformation and best-practices.
“Teams have spent years solving credit and A/R in process silos, leading to the proliferation of piecemeal solutions. HighRadius has executed more than 500 Receivables transformation projects over the years. Every time we implemented multiple receivables products with an integrated business process design, we noticed the one-plus-one is greater than two benefit! For example, if a customer credit limit utilization is reaching 100% in the credit module, then the collections module automatically generated and sent an invoice past-due notice via email. And when the buyer clicked on the email hyperlink and made a payment via the self-service EIPP module, three modules orchestrated an integrated receivables business process eliminating the manual intervention of analysts across departments, prompting an incentivized customer to pay bills immediately and significantly reduce DSO. Now imagine the exponential impact of six integrated modules and hundreds of such integrated business processes. It’s a Neil Armstrong Moment for the industry!” Sashi stated in his response to a technology analyst at the conference.
The backbone of the integrated platform are the modules for Credit, Collections, Deductions, Cash Application, Electronic Invoice Presentment and Payments. With the inclusion of the sixth module, RadiusOne network, customers become digitally unified into the Integrated Receivables platform, closing the loop from the supplier A/R process to the buyer AP process. The HighRadius Integrated Receivables platform is a stand-out as it enables credit and A/R operations to execute every single business process real-time from a single platform – something missing in most piecemeal solutions on the market today.
Director of Customer Financial Services at Danone North America, Michael Pettyjohn commented, “We have eliminated disconnected systems from our credit and A/R shared services landscape and deployed HighRadius cloud solutions. It is more than just the ease of working with a single vendor. Everything is connected and you have a single source of truth. The HighRadius team is excellent and I am excited about our ongoing partnership using the Integrated Receivables platform.”
HighRadius provides Financial Supply Chain Management software solutions to optimize functions such as credit, collections, cash application, deductions and Payments. Our Integrated Receivables solution suite is delivered as software-as-a-service to automate the credit-to-cash cycle. HighRadius solutions have a proven track record of reducing days sales outstanding (DSO), bad debt and increasing operation efficiency enabling companies to achieve an ROI in just a few months. For more information please visit www.highradius.com.
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