This eBook outlines the insights from Bank of America, CITIBANK and Ernst & Young on what strategies and transformation initiatives should be used to unlock cash flows and how A/R teams can contribute to the CFO’s goal of improving working capital.
The world is going through a wave of economic uncertainty and the FED has given a hint about an upcoming recession. During this difficult time, the CFOs and senior finance executives have their sole focus on ‘CASH FLOW MANAGEMENT’
In this executive summary, we will highlight the key insights delivered by leaders from Bank of America, Citibank and Ernst & Young during a recent panel discussion with HighRadius:
1. Major working capital hacks to unlock cash flows
2. How Credit & A/R teams can become strategic partners to the CFOs office
3. Digital transformation tools & strategies to boost working capital
For CFOs and senior finance leaders, it is important to have a real-time access to data to understand how the risk behaviour of the customers are changing. With the aid of intelligent automation and technology, they are able to monitor their cash flows and financial risk alerts and proactively manage the finance & A/R operations.
HighRadius is a Fintech enterprise Software-as-a-Service (SaaS) company that leverages Artificial Intelligence-based Autonomous Systems to help companies automate Accounts Receivable and Treasury processes. The HighRadius® Integrated Receivables platform reduces cycle times in your order-to-cash process by automating receivables and payments processes across credit, electronic billing and payment processing, cash application, deductions, and collections.
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HighRadius Collections Software automates and optimizes the credit & collections management process to improve collector efficiency, minimize bad debt write-offs, improve customer relationships, and reduce DSO. It provides a complete set of tools to optimize and automate the credit collections management process and enable the better prioritization of credit collections activities All the information you need (invoices, dispute information, POD, claims, tracking info, etc.) on each case is automatically presented in a collections work-space and is ready for use. Apart from the wide variety of benefits that it has, it also comes with some amazing features like CADE (Collection Agency Data Exchange), collector’s dashboard which has prioritized collections worklist, automated dunning & correspondence, dispute management, centralized tracking of notes, call logs & payment commitments along with cash forecasting functionalities. The result is a more efficient collections team that contributes to enhanced cash flow and reduced DSO.