This ebook outlines the 11 most widely used global payment formats a treasury team should be aware of and accept to constitute a healthy payment mix
The Wave of Change in Payment Mix
According to a CRF survey, 79% of the business organizations are shifting towards a global business model.
It is important for the treasury team to support the most prevalent payment formats to ensure:
“Inability to process newer payment formats could direct your prospects to your competitors”
Thus the treasury teams should be specifically aware of the 11 most
-used payment formats to accept, process and also recommend them to a customer looking for payment recommendations
Cash application cloud ensures seamless cash posting. It ensures the following:
✓ 95% Zero-Touch Cash Posting for Checks, ACH, Cards
✓ Eliminate 100% of Lockbox Key-In Fees
✓ Artificial Intelligence-Enabled Data Capture
The key features of this product include:
✓ Check remittance capture
✓ Email remittance capture
✓ Web remittance capture
✓ Invoice matching
✓ Discounts and Deductions handling
✓ Remote deposits and mobile payments
HighRadius is a Fintech enterprise Software-as-a-Service (SaaS) company. The HighRadiusTM Integrated Receivables platform reduces cycle times in the order-to-cash process through automation of receivables and payments across credit, electronic billing and payment processing, cash application, deductions and collections.
Powered by the RivanaTM Artificial Intelligence Engine and FredaTM Virtual Assistant for order-to cash teams, HighRadius enables organizations to leverage machine learning to predict future outcomes and automate routine labor-intensive tasks. The radiusOneTM 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 companies may achieve strong ROI in just a few months
Integrated Receivables optimizes accounts receivable operations by combining all receivable and payment modules into a unified business process. The Integrated Receivables platform provides solutions for credit, collections, deductions, cash application, electronic billing, and payment processing – covering the entire gamut from credit-to-cash.
The HighRadiusTM Integrated Receivables platform stands out by enabling every credit and A/R operation to execute real-time from a unified platform with an end goal of lower DSO, reduced bad-debt, and faster dispute resolution while improving efficiency and accuracy for cash application, billing, and payment processing.
HighRadiusTM Integrated Receivables leverages RivanaTM Artificial Intelligence for Accounts Receivable to convert receivables faster and more effectively by using machine learning for accurate decision making across both credit and receivable processes. The Integrated Receivables platform also enables suppliers to digitally connect with buyers via the radiusOneTM network, closing the loop from the supplier Accounts Receivable process to the buyer Accounts Payable process.
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 which 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.