- New program removes friction from collections process
- Three flagship Preferred Collection Agency Partners: AG Adjustments, Altus Global Solutions, D&S Global Solutions
- Customers can easily interface with multiple agencies at once and streamline placement process
— February 28, 2019 — HighRadius
, a fintech enterprise Software-as-a-Service (SaaS) company specializing in automating the order to cash process, has launched the Collection Agency Data Exchange (CADE), a new program that streamlines the process of sending accounts and invoices to third-party collection agencies. HighRadius® Collections Cloud customers can now electronically place accounts for collection with three partner agencies — AG Adjustments, Altus Global Trade Solutions, and D&S Global Solutions —without ever leaving the HighRadius platform.
“Friction in collections harms everyone involved,” said Bill Weiss, Vice President of Business Development, HighRadius. “By automating and accelerating the process, HighRadius frees up enterprises to do what they do best: increase the bottom line.”
Powered by machine-learning algorithms, the HighRadius Collections Cloud streamlines all aspects of Accounts Receivable, from clerical commitments to collections. Agencies often waste valuable time tracking down information in order to process a customer through to collections. With the full integration of the Collection Agency Data Exchange, firms are freed up for more strategic work, collections agencies are unsnarled from paperwork and the entire collections processed is smoothed.
“Our clients’ biggest challenge is in placing collection accounts in a timely manner,” said Sam Fensterstock, SVP of Business Development, AGA. “Gathering all of the necessary data is an extremely time-consuming process but by implementing CADE, a HighRadius Collections Cloud user can now deploy third-party placement strategies that identifies accounts that meet customized rules and automates data placement. This enables users to send placements on a more consistent basis, reducing the risk of human error and freeing up hours of labor to conduct other tasks. AGA is proud to play an integral part in the development of this program.”
“D&S Global Solutions is extremely pleased to partner with HighRadius as we share in its commitment to innovative solutions for the order to cash process,” said Aaron Nelson, VP Sales, D&S Global Solutions. “The Collection Agency Data Exchange enables D&S to seamlessly integrate with customers to reduce administrative workloads while improving the turnaround time for collection. HighRadius customers can now easily leverage the D&S resources established around the globe to help support their order-to-cash process.”
“Entering into a strategic partnership with HighRadius enables us further assist our clients in collection of their accounts, said Bryan Clancy, EVP Of Sales, Altus. “We process, treat and remit thousands of collection cases each month for our clients. The Collection Agency Data Exchange allows our customers to automatically exchange information with ARMSTRONG, our collection automation system, to improve efficiencies, lessen administrative workloads and drive increased recoveries.”
About HighRadius Corporation
HighRadius is a Fintech enterprise Software-as-a-Service (SaaS) company which leverages Autonomous Receivables to help companies put their order to cash on autopilot. 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. Powered by the RivanaTM Artificial Intelligence Engine and FreedaTM 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 radiusOneTM 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.