IDC, Bayer speak to the potential for value creation in re-engineering the order to cash, treasury, and record to report functions leveraging HighRadius platform
Frankfurt, 09 February 2022 - HighRadius, the artificial intelligence (AI)-powered order to cash, treasury management and record to report software provider, today announced accelerating growth in EMEA, fueled by innovative technology and a laser focus on value creation for its customers. Since the launch of its European business, the company has deployed over 300 digital transformation projects spanning 37 countries, and expanded its operations with new offices in Paris and Amsterdam to support its rapid growth in the region. HighRadius has also developed Treasury and Record to Report capabilities to complement its industry-leading order to cash solution. New global partnerships with Genpact, Deloitte, Ernst & Young, and Accenture are expected to further drive value creation for HighRadius’ customers and accelerate digital transformation across shared services organizations and in the office of CFO.
Leading consultancy and market research firm IDC spoke to the importance of evolving legacy finance and accounting processes at the Frankfurt press conference. Marco Becker, Senior Consultant at IDC said: “Increasingly complex purchasing processes and digital business models make automated, intelligent and agile Order-to-Cash processes not only a competitive advantage, but also increasingly a necessity in the future.” IDC recognizes HighRadius as a leader in its IDC MarketScape for Accounts Receivable Automation Software.
Bayer, the leading Life Science Company in the areas of health and nutrition, further evidenced the value unlocked by deploying HighRadius’s AI-powered technology on top of its ERP systems. "HighRadius' Autonomous Receivables provides an end-to-end platform that connects key accounts receivable processes,” said Zahre Cinibulak , O2C- GPO Financial Operations CH/PH. “The platform is able to handle our global Order-to-Cash processes across different countries and business units as well as ERP landscape." Bayer has successfully deployed HighRadius across 12 countries.
Jon Keating, Vice President and General Manager EMEA for HighRadius added, “For decades, efforts to improve account receivables processes have been focused on cost reduction and improving efficiency. This is no longer sufficient - financial processes are a key pillar for customer relationships, and need to evolve to maximize the value of those relationships. Our mission at HighRadius is to help our customers do exactly that.”
About HighRadius Corporation
HighRadius offers cloud-based Autonomous Software for the Office of the CFO. More than 700 of the world’s leading companies have transformed their order to cash, treasury and record to report processes with HighRadius. Our customers include 3M, Unilever, Anheuser-Busch InBev, Sanofi, Kellogg Company, Danone, Hershey’s and many more.
Autonomous Software is data-driven software that continuously morphs its behavior to the ever-changing underlying domain transactional data. It brings modern digital transformation capabilities like Artificial Intelligence, Robotic Process Automation, Natural Language Processing and Connected Workspaces as out-of-the-box features for the finance & accounting domain.
Finance business stakeholders have been led to believe that they have only two choices: pick an application software vendor that digitizes a paper or Excel-based process to an electronic system of record, or, choose a middleware platform for AI or RPA to build and maintain in-house, domain-specific capabilities. In contrast, HighRadius Autonomous Software combines the best of both worlds to deliver measurable business outcomes such as DSO reduction, working capital optimization, bad-debt reduction, reduce month close timelines and improve productivity in under six months. Click here to see Autonomous Software in action.