HighRadius Extends Integrated Receivables Cloud Platform with AI-Editions, Mobile Payments and Digital Assistants
Future of A/R unveiled at Radiance 2018 conference with product releases focused on proactive collections, autonomous dispute management and mobile payments and analytics
Houston, TX – February 21, 2018– HighRadius announced four major product releases during the keynote address by Sashi Narahari, CEO and Founder, at the 5th annual Radiance conference – a three day credit and A/R conference hosted in Houston, TX.
The announcements include AI Editions for HighRadius™ Collections Cloud and Deductions Cloud solutions. The AI Editions will be immediately available to customers. HighRadius Integrated Receivables Cloud Platform will also be extended by the launch of the radiusOne™ Mobile app for analytics and payments and the beta-release of the Freda™ chatbot. These new capabilities are focused on enabling A/R teams refocus time and resources from time-consuming transactional work in payment processing and data gathering, to high-value activities such as refining credit policies or collection strategies.
You could learn more about these new launches here. Product highlights announced at the conference include:
Collections Cloud – AI Edition
Machine learning algorithms, trained and tested over billions of dollars of real-world payment data, are now generally available. Analysts could use predicted payment dates to build smarter collector worklists and more proactive collection strategies. Early deployments have shown 4x more accurate forecasts over traditional average days delinquent (ADD) techniques. In a special presentation, Marinko Marijolovic, Director, Corporate Credit Services, ShurTech Brands shared initial results in using AI to transform to a proactive collections process.
Deductions Cloud – AI Edition
Deductions Cloud now predicts the validity of customer claims and disputes with advanced AI trained and tested on over $30B of deductions from real-world A/R data. In a related session, leading industry practitioners and in-house data science experts from HighRadius showcased how this would result in a 70% reduction of deductions workload by focusing teams squarely on high-value invalid deductions, while auto-resolving high-probability valid claims.
radiusOne Mobile Application for Suppliers
The radiusOne mobile app is now available on both iOS and Android and provides mobile access to real-time KPIs and metrics. The application will also allow field personnel to remotely capture check images or input ACH payments to accelerate processing and reconciliation.
Freda Virtual Assistant Extensions
Born on the 4th of July, 2017, Freda, the A/R Virtual Assistant, is rapidly maturing and now available as a beta version. The chatbot is able to answer over 5,000 new inquiries for A/R customer management and reporting using a simple English language chat interface.
These releases along with previews of future capabilities are on display at the Radiance 2018 conference in Houston, TX from February 19-21.
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.
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