Learn how saas treasury software helps in the digital transformation of treasury
To overcome these challenges, businesses can adopt the latest tools, such as software-as-a-service (SaaS).
Software as a service (or SaaS) is a way of delivering applications over the Internet instead of installing and maintaining software. Teams can access it online, freeing themselves from complex software and hardware management.
The following are the features of a SaaS treasury software:
The digital transformation in the treasury presents a wealth of opportunities for enterprise treasury functions to become lean, innovative, and efficient. The act of employing digital technology to build new business processes, cultures, and customer experiences or adapt current ones to satisfy shifting business and market requirements is known as digital transformation.
Companies find it challenging to commit to a significant digital transformation due to the following reasons:
These hurdles are solved with the SaaS solutions, which make it simpler for treasury teams to get scalability, robustness, and agility.
Some of the key benefits provided by a SaaS treasury management system for achieving digital transformation are:
This facilitates the following:
HighRadius Integrated Receivables Software Platform is the world's only end-to-end accounts receivable software platform to lower DSO and bad-debt, automate cash posting, speed-up collections, and dispute resolution, and improve team productivity. It 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 and 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. Integrated Receivables have been divided into 6 distinct applications: Credit Software, EIPP Software, Cash Application Software, Deductions Software, Collections Software, and ERP Payment Gateway - covering the entire gamut of credit-to-cash.