March 12, 2013

HighRadius to Launch Electronic Payments Solution for SAP® Systems

Electronic Payment ProcessingSaaS-based solution uniquely leverages transaction processor tokenization for optimum security in processing electronic payments. HighRadius Corporation, a leading provider of order-to-cash optimization solutions for SAP systems, today announced the coming release of their new electronic payment processing solution for SAP business applications – Payments OnDemand. Payments OnDemand enables merchants to provide additional payment options to their customers – among them credit cards, debit cards and electronic checks. Without such electronic payments, merchants are limited to paper checks and cash payments which increases DSO and raises risk of collecting on open receivables. Additionally, the manual processing required for reconciling paper check payments to open invoices for small accounts increases administrative overhead and cost of cash application. The new entry complements HighRadius’ extensive list of offerings that enhance and optimize native SAP Receivables Management functionality, including Biller Direct and Collections and Disputes Management. Unlike other vendor solutions, Payments OnDemand leverages major processors’ security and tokenization to optimize security and provide a quick upgrade to the latest enhancements in privacy protection. This model transfers the risk of losing customer credit card numbers from HighRadius’ customers to the businesses best equipped to control it and manage such data – the payments processors. The system is fully PCI-DSS-compliant. “Our innovative approach to security makes Payments OnDemand a good match for those merchants who run SAP ERP and are looking to provide a secure handling of credit card information,” said Sashi Narahari, chief executive officer at HighRadius Corporation. “With Payments OnDemand they can easily achieve PCI-DSS compliance and avoid fines from credit card companies.“ Payments OnDemand is available as a SaaS solution which means a quick configuration is all that is needed to connect to preferred payments processors. A thin, native SAP component further minimizes deployment time and cost by providing an SAP-Certified integration at minimal cost. “We have applied our extensive background and experience working with and implementing SAP systems to making our new payments solution easier to put in production than anything else on the market. Our partners and customers will realize the benefits of this in the form of drastically reduced deployment risk and project costs,” said Narahari. HighRadius will be providing additional information on the solution at the SAP Financials 2013 conference in Las Vegas, March 19-21, and will make it generally available at SAPPHIRE Orlando in May. Want more information? Contact HighRadius to learn more about this exciting new addition!
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HighRadius Cash Application Software enables the end-to-end automation of the cash application process that covers major benefits such as AI-enabled data capture for remittances, auto-linking of payments with open invoices, cost-cutting on lockbox fees, and easy compatibility with any system due to its ERP-agnostic Saas infrastructure. Apart from the major benefits that it has, there are some key features that can not be missed out, some of them are Email Remittance capture, Discounts and Deductions Handling, Check Remittance Capture, Web Remittance Capture, Invoice Matching, and RDC & Mobile Payments. Improve your efficiency with our order-to-cash templates such as - A/R Aging Report, DSO calculation excel template, A/R Dashboard excel template, credit scoring model for new customers, 21 Credit-collections email template, and Our Ebooks.