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The Business Imperative
for More Effective
Accounts Receivable Software

How does this ebook help me?
In this Spotlight Paper, Kevin Permenter, Research Director, Financial Applications for IDC, emphasizes the importance of modernizing accounts receivable (AR) management for the office of the mid-market CFO. The report reveals the impact AR digital transformation has on fast-growing businesses' capabilities to minimize operational risks and secure capital tied up in receivables.
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Key Takeaways

The need for immediate modernization of AR management tools
AR software buyers demand advanced reporting and analytics with better exception handling features
Digital-payment capabilities are required to improve customer experience and fast-track cash conversion
Intelligent automation tools (AI & RPA) provide actionable data-driven insights and predict cash flow with higher accuracy

Table of Contents

01.
Introduction
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02.
Benefits
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03.
Key Technology Trends
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04.
Digital Transformation Fortifies Businesses Against Disruption in Many Ways
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05.
A Proactive AR Approach
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06.
What Do Buyers Want Most from Their AR Software?
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07.
Considering HighRadius for AR Automation
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08.
Conclusion
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Chapter 01

Introduction


The uncertainty in the business world over the past 24 months has multiple layers that go beyond the pandemic. The regulatory landscape continues to shift and become more complex with new financial reporting, e-invoicing, and payment mandates being issued throughout various global markets. The geopolitical landscape is also disrupted by war and supply chain breaks. There have been extreme swings in the global capital markets unseen in more than a decade. All this uncertainty has created a financial minefield that businesses of all sizes must negotiate.

While organizations seek real-time cash flow information, many realize they don’t have the visibility, flexibility, and agility to adjust to the new normal. Unfortunately, a multitude of organizations are yet to fully embrace digital transformation (DX) within accounts receivable (AR) departments. Consequently, midmarket organizations, especially, find themselves struggling with legacy tools and antiquated processes. And because of the situation where demand meets reality, there has been and unprecedented urgency for immediate modernization of AR management tools.

Finance decision makers must be more strategic because of the global market uncertainty. They must look at AR data and find strategic trends and glean insights that will impact key performance indicators like days sales outstanding (DSO), average days delinquent (ADD), and accounts receivable turnover (ART) ratio. For fast-growing and evolving midmarket companies, functional and complex requirements could increase manifold for managing a larger group of customer accounts. So it’s essential to adopt solutions that scale with your company’s evolving financial roles and requirements.

There's no time like the present

Leverage Artificial Intelligence (AI) and Robotic Process Automation to reduce repetitive and time consuming tasks of accounts receivable process

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The HighRadius RadiusOne AR Suite is a complete accounts receivable solution designed for mid-sized businesses and SMBs to automate eInvoicing, Collections, Cash Reconciliation, and Credit Risk Management to enable faster cash conversion and maximize working capital.

It is quick to deploy and ready to integrate with ERPs like Oracle NetSuite, Sage Intacct, MS Dynamics, and scales to meet the needs of your order-to-cash process.

Lightning-fast Remote Deployment | Minimal IT Dependency
Prepackaged Modules with Industry-Specific Best Practices.

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