Event to demonstrate ways to leverage Same Day ACH and improve credit, collections and cash application process
HOUSTON, TEXAS APRIL 03, 2017
HighRadius will be presenting a webinar “5 Steps to Realize the Benefits of Same Day ACH in Credit and A/R Processes” on Thursday, April 6, at 1:00 pm CT. High Radius will be joined by NACHA – The Electronic Payments Association for the event. HighRadius is NACHA’s Preferred Partner for cash application automation.
The limitations of check payments, including high processing cost, slow speed of settlement and poor cash forecasting support has necessitated Credit and A/R leaders to move to ACH payments. ACH, and now Same Day ACH, is enabling businesses to reduce payment processing costs, improve cash management, cash forecasting and cash flows with fast and reliable low cost payments. However, challenges in internal business processes and new work that can be introduced by the new payment methods prevent businesses from fully integrating Same Day ACH into Credit and A/R processes and fully realizing its benefits. In fact, such lack of preparedness leads to increased operational costs while negatively impacting key metrics such as Day Sales Outstanding (DSO) and bad debt.
Rob Unger, AAP, Senior Director, Product Management and Corporate Relations, NACHA and Elaine M. Nowak, Director Product Management & Marketing, HighRadius, will discuss how credit and A/R teams are able to cut operational costs, reduce DSO, release blocked orders faster and reduce collections follow-ups using Same Day ACH and Robotic Process Automation (RPA). Rob is responsible for ACH initiatives focused on B2B payments and ISO 20022 support and also leads NACHA’s corporate relations initiative. Elaine works to educate the corporate credit and A/R leaders and practitioners about the value of technology and automation, and the value that finance leaders could bring to reduce operational expenses, improve performance and reduce DSO and bad debt.
In this educational webinar, the speakers will discuss best practices to resolve challenges faced by companies in handling payment processing and reconciliation for Same Day ACH and how this helps in expediting downstream credit-to-cash processes. The presenters will also compare and evaluate next-day ACH and Same Day ACH to help businesses understand the opportunities and challenges presented by each. Participants will take away a clear understanding of the impact of Same Day ACH on DSO, cash flow, credit and collections KPIs and the role of technology in helping businesses achieve corporate and team targets.
“Same Day ACH is a significant innovation and understanding the best practices on Same Day ACH will help Credit and A/R leaders to take their organizational performance to the next level,” said CEO of HighRadius, Sashi Narahari. “The new payment method is the logical next step in the drive for faster, low cost payments. However, there are a number of supporting processes that need to be optimized to realize the benefits. HighRadius, with our experience of over 500 credit and A/R transformations, has been identified by NACHA as the preferred partner for companies looking to enhance their cash application processes. We are glad to be able to offer our experience to help educate finance leaders on the benefits of Same Day ACH for credit and A/R departments and share some of the best practices we have seen from our work with leading companies from Fortune 500 down on how to make the most of it.”
“We hear from many businesses that cash application continues to be a problem,” says Rob Unger, Senior Director with NACHA. “We are happy to work with HighRadius as a preferred partner to highlight a cash application automation solution that can also improve ACH processing.”
For more information or to register to the live event click here
About NACHA – The Electronic Payments Association
Since 1974, NACHA – The Electronic Payments Association has served as trustee of the ACH Network, managing the development, administration and rules for the payment network that universally connects all financial institutions in the U.S. The Network moves money and information directly from one bank account to another. Through its collaborative, self-governing model, education, and inclusive engagement of ACH Network participants, NACHA facilitates the expansion and diversification of electronic payments, supporting Direct Deposit and Direct Payment via ACH transactions, including ACH credit and debit payments; recurring and one-time payments; government, consumer and business transactions; international payments; and payments plus payment-related information. Through NACHA’s expertise and leadership, the ACH Network is now one of the largest, safest, and most reliable systems in the world, creating value and enabling innovation for all participants. Visit nacha.org for more information.
HighRadius provides Financial Supply Chain Management software solutions to optimize receivables and payments functions such as credit, collections, cash application, deductions and eBilling. Our Integrated Receivables solution suite is delivered as software-as-a-service to automate the credit-to-cash cycle. 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 day sales outstanding (DSO), bad debt and increasing operation efficiency enabling companies to achieve an ROI in just a few months. For more information please visit www.highradius.com
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