Simplify Cash Reconciliation: The Future of Finance with HighRadius and Sage Integration

Setting the Stage: The Current State of Cash Reconciliation

When you ask finance teams about their cash application process, their expression says it all - a glare that speaks volumes. Managing transactions from numerous customers is challenging, but adding remittance aggregation, invoice matching, exception handling, deductions, and all the accompanying complexities becomes overwhelming. As we speak, finance teams are dedicating countless hours to reconciling remittances manually. Small and mid-market businesses often resort to one-off IT projects and turn to accounting software like Sage Intacct to tackle these challenges.

Autonomous Receivables, purpose-built for Sage Intacct

While Sage Intacct provides a solid foundation for resolving many reconciliation challenges, today's macroeconomic conditions demand a solution with comprehensive capabilities to build upon such as Autonomous Receivable’s cash application. This article will explore the significance of embedding "automation intelligence" into your existing Sage tech stack. By harnessing technological co-discoveries, businesses can unlock unprecedented profit margins for the CFO's office.

HighRadius + Sage Integration: Cash Reconciliation on Steroids

With HighRadius’s integration with Sage Intacct, AI becomes an invaluable asset to your finance team. This enterprise-grade AI solution is tailor-made for the CFO’s office, enabling your business to simplify cash reconciliation in minutes instead of months and seamlessly deploy it across your receivables labyrinth.

So, how does the HighRadius and Sage integration enable your business to achieve a zero-touch cash reconciliation process?

Integrating HighRadius’s cash application solution brings a host of exceptional features to your finance team’s workspace, including:

1. Advanced Remittance Data Capture:
   Streamline remittance capture with template-agnostic bots that leverage automated routing and AI-powered workflows to ensure efficient remittance data capture from check stubs, email bodies or attachments, and customer web portals.
2. Intelligent Invoice Matching:
   Automatically match the payment and remittance information to the correct invoice and customer account effortlessly and accurately— including parent-child relationships, installment payments, prepayments, complex deductions, or inaccurate data.
3. Smart Deductions and Exception Management:
   Automatically identify, track, and validate any deductions at their source with all the relevant data, documents, and resolution insights on one centralized platform, enabling faster recovery.
4. Data-driven Reporting and Analytics:
   Convert raw data into AI-driven analytics and gain comprehensive real-time visibility into your team’s performance with out-of-the-box reports and dashboards. Identify areas for improvement and drive continuous development.

By leveraging the intuitive interface and robust tools provided by Sage Intacct, alongside these empowering features, your receivables operations can achieve zero-touch cash reconciliation and redirect the finance team’s focus towards critical tasks like collections and deduction resolutions.

Read on to discover how Armanino successfully streamlined cash reconciliation with HighRadius-Sage Intacct integration. Their journey showcases the immense potential and transformative impact this integration can have on your finance operations. Let’s dive in.

Armanino: Streamlining Cash Reconciliation with HighRadius + Sage Integration

As one of the US’s largest independent accounting and business consulting firms, Armanino understands the importance of staying ahead in today’s dynamic business landscape. While initially relying on a legacy on-prem billing system, they recognized the need for a more robust cash application solution and turned to Sage Intacct. However, as their growth skyrocketed, Armanino faced the harsh reality that their manual-based cash reconciliation infrastructure wasn’t designed to scale. Their finance teams spent significant time applying cash, resulting in delayed and inaccurate reconciliations that frustrated both customers and internal teams. Armanino’s finance leaders understood the potential roadblocks often accompanying ERP integrations with modern solutions. However, they proactively approached their challenges by investing in HighRadius’s advanced cash application solution. The results were remarkable. They achieved an impressive average match rate of 70%, significantly improving their cash application process.

By automating their cash reconciliation with HighRadius, Armanino’s finance teams were freed up to focus on strategic tasks such as handling overpays and short pays. This shift allowed them to derive maximum value from their operations while ensuring scalability to support their ongoing growth. Armanino’s success story showcases the power of integrating HighRadius with Sage Intacct. By embracing innovative technology and leaving manual processes behind, businesses can unlock new levels of efficiency, accuracy, and strategic focus in their finance operations.

How much does it cost to integrate Sage Intacct with HighRadius Solutions?

Flexible pricing models are available based on your specific accounts receivable needs and integration complexities. For detailed information about our pricing plans, initiate a chat with us on this page or schedule a call with our solution experts. We’re here to assist you every step of the way.

How do I set up my Sage Intacct integration in Autonomous Receivables?

Setting up your Sage Intacct integration is seamless with our plug-and-play solution. Schedule a call with our experts, and we’ll guide you through the quick and effortless setup process.