HighRadius Launches Shared Services Edition of the Integrated Receivables Platform to Accelerate Enterprise Process Improvement
Organizations employing the Shared Services solution will lower cost, increase efficiency and better align business processes to corporate objectives.
HOUSTON, TX MAY 31, 2017 HighRadius Corporation announces the roll-out of a Shared Services-focused Integrated Receivables platform that empowers organizational enterprise processes to realize cost savings, increase efficiency and focus on strategic objectives more clearly. The Shared Services Integrated Receivables solution is a stand-out as it enables receivables and payables operations to execute business processes real-time from a unified platform – a crucial missing element in most piecemeal solutions on the market today. It offers standardized operations for corporate users, produces quick turnaround for customers and enables integrated low-cost processes for service providers and vendors supporting the operations.
The solution addresses HighRadius’ learnings from executing 550+ implementations across the globe and specifically, the core reasons shared services centers fail to deliver the value expected by organizations:
- Multiple ERP systems lead to multiple processes and segregate expertise in teams
- Multiple geographies support different operations resulting in inefficient collaboration
- Multiple processes and KPIs for outsourced teams, BPO vendors and insource teams create misaligned objectives and goals
- Complex reporting and management structures lead to lack of visibility and accountability
HighRadius acknowledged these pain points, and to address the needs of large organizations, launched the shared service edition of the Integrated Receivable solution. The basis of the integrated platform are the modules for credit, collections, deductions, cash application, and electronic invoice presentment and payments. The Shared Services Integrated Receivables platform allows suppliers to digitally connect with buyers via the RadiusOne network, the proprietary HighRadius B2B Payments network, closing the loop from supplier receivables processes to buyer payables processes. From the shared services center’s perspective, the pain points for successful implementation are addressed:
- Enterprise cloud integration with multiple ERPs enables a single tool to streamline processes across all regions and shared services centers
- Global organization management provides complete executive visibility using advanced user management, dynamic role assignment and process and data access control
- Multi-touch relationships across BPO vendors, brokers and collection agencies allows business process control and secure integration
- Multi-language and multi-currency support consolidates reporting and simplifies correspondence using dynamic conversion rules
- Integrated reporting and analytics manages hierarchical reporting and tracking of KPIs across management and vendors
- Predictive analytics forecasts cash and improves collections predicting for customer behavior
- Continuous Improvement in processes use machine learning-based algorithms embedded in the solution
“We are excited to launch our Shared Services-targeted Integrated Receivables solution,” said Jay Tchakarov, vice president of product management at HighRadius. “We are continuing our commitment to investing in new robotic process automation technologies and to scaling our Artificial Intelligence-based Integrated Receivables platform to new receivables and payables scenarios. Shared Services offers a unique set of challenges and problem-scale that no other vendor in the market has made a concerted effort to address. With the HighRadius platform’s ability to support multiple geographies, currencies, organizational structures and end-to-end enablement of business processes in a unified solution, corporate and shared services leaders are finally in a position to get the best ROI on their shared services operations.”
HighRadius™ is a Fintech enterprise Software-as-a-Service (SaaS) company that provides an Integrated Receivables Platform to optimize receivables and payments functions such as credit, collections, cash application, deductions, and electronic billing and payment processing. The Integrated Receivables platform allows suppliers to digitally connect with buyers via the RadiusOne network, closing the loop from supplier receivable processes to buyer payable processes. Our certified Accelerators for SAP S/4HANA Finance Receivables Management enables large enterprises to achieve business transformation initiatives and leverage their SAP investments. HighRadius solutions have a proven track record of reducing days sales outstanding (DSO) and bad debt, and increasing operation efficiency, enabling companies to achieve an ROI in just a few months http://www.highradius.com.