HighRadius Announces Certification with Swiss-U.S. and Re-Certification with EU-U.S. Privacy Shields
HighRadius maintains and expands the compliance mechanisms for personal data transfers from Europe to the United States
Houston, Texas – September 19, 2017 – HighRadius is pleased to announce that it has obtained certification for the Swiss-U.S. Privacy Shield and re-certification to the EU Privacy Shield to align with their global data strategy initiatives in the continued expansion of the organization. The re-certification is vital to continuing the rapid global development and high demand for the company’s products and services across the Eurozone and the larger European Union.
“HighRadius is on track to continue its aggressive growth presence worldwide. With the injection of $50 million in growth funding to expand our cloud-based Integrated ReceivablesTM Solutions, the privacy and security of data are more important than ever to assure our global customers that the highest levels of protection are in place,” says Sashi Narahari, CEO and President of HighRadius. “Compliance with the EU and Swiss Privacy Shields confirms that any personal data that is processed is handled with the proper restrictions, accessibility and security.”
As part of this certification and re-certification process, HighRadius has certified that it adheres to the Privacy Shield Principles. The certification complies with the EU-U.S. Privacy Shield Framework and the Swiss – U.S. Privacy Shield Frameworks as set forth by the U.S. Department of Commerce regarding the collection, use, and retention of personal information transferred from the European Union and Switzerland to the United States, respectively.
The Principles under the two frameworks align, with a few exceptions. These exceptions include the notion that the Swiss Federal Data Protection and Information Commissioner’s authority substitutes for that of the EU DPAs’ authority throughout the Swiss-U.S. Privacy Shield, as compared to the EU-U.S. Privacy Shield. When covering HR data received from Switzerland for use in the context of the employment relationship, organizations must commit to cooperate with and comply with the advice of the Commissioner. Under the EU-U.S. Privacy Shield, the comparable commitment is to cooperate with the EU DPAs.
The definition of sensitive data under the Choice Principle is modified slightly under the Swiss-U.S. Privacy Shield, including ideological views or activities, and information on social security measures or administrative or criminal proceedings and sanctions, which are treated as outside pending proceedings.
About HighRadius Corporation
HighRadius is a Fintech enterprise Software-as-a-Service (SaaS) company. The HighRadius™ Integrated Receivables platform optimizes cash flow through automation of receivables and payments processes across credit, collections, cash application, deductions, electronic billing and payment processing. Powered by the Rivana™ Artificial Intelligence Engine and Freda™ Virtual Assistant for Credit-to-Cash, HighRadius Integrated Receivables enables teams to leverage machine learning for accurate decision making and future outcomes. The radiusOne™ B2B payment 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.
For more information on the HighRadius privacy policies please visit our website: https://www.highradius.com/privacy-policy/
About EU-U.S. and Swiss-U.S. Privacy Shields
To learn more about the Privacy Shield program, and to view certification requirements, please visit https://www.privacyshield.gov/.
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