Till now, you have only seen or read about piece meal automation that solves a problem for you as a quick fix. What if in addition to moving away from siloed processes to an integrated receivables platform for all A/R process, you leverage the benefits of digital assistants and artificial intelligence powered solutions to strategically contribute to your company?s growth. Sounds too good to be true? Here?s a thought ? one of the AI use cases we discussed before was on how AI could help you predict customer behavior and probable payment date so you could start the collections process strategically. What if there was a digital assistant who could:

1. Prioritize your worklist based on the AI predictions for payment date
2. Categorize your worklist into different buckets in terms of activity (call, correspondence among others)
3. Centralize all the information related to an account at one place
4. Standby and be ready to take notes when you are on a call with any customer
5. Capture any payment commitments promised on the call- analyst just needs to save
6. Summarize the call and send it to customer post analysts verification.

Again, sounds unrealistic? It?s not. Here’s what Scott Phillips, Head of Shared Services, Kloeckner Metals Corporation had to say about using the call-in functions for day to day collections: AI and technology usually sound too good to be true. But once we made the first set of collections calls using the HighRadius software, we knew that this could be something big. Automation aside, I think Autonomous Collections will allow collectors to really focus on customers who matter. As a manager, the auto-archiving of conversation history is a game-changer for internal training and feedback. We are excited to upgrade to the world?s first touch- and voice-enabled experience for collections and look forward to more use-cases for Autonomous Receivables across other order to cash functions. Combining A/R Analysts with AI and digital assistants could laser-focus teams on strategic work with higher corporate impact. While the AI digital assistant will perform the clerical tasks and provide deep analytical insights, the A/R analyst could focus on making a context-sensitive judgment to drive better outcomes. This is what we call Autonomous Receivables ? A/R on Autopilot It is a new way of thinking about order to cash software that reduces the amount of clerical work done by the user and puts them in a position where they are applying their contextual decision making for course correction.