With S/4HANA Finance adoption growing by 100% year over year, it is critical for Finance and A/R leaders to plan for operations on the new system.
However, the confusion around capabilities of S/4HANA Finance has led to a number of poorly planned and executed projects, setback credit and receivables organizations and hurt larger business objectives. These avoidable mistakes adversely impact key KPIs including Days Sales Outstanding, bad debt and past-due A/R, hurting cash flow and ability of the business to efficiently fund itself. Therefore, finance leaders have to be on the look-out for signals that might lead to project failures.
We present a structured, peer-recommended, four-step process for SAP S/4HANA Finance and Receivables Management implementations which mitigated these risks of disruption.
HighRadius Credit Software automates the credit management process, enabling credit managers to make highly-accurate credit decisions 2X faster and enable faster customer onboarding with 4 primary components: configurable online credit application, customizable credit scoring engines, credit agency data aggregation engine, and collaborative credit management workflow. Along with that, there are a lot of key features that should definitely be explored some of which are online credit application, credit information aggregation, automated credit scoring & risk assessment, credit management workflows, approval workflows, and automated bank & trade reference checks. The result is faster customer onboarding, better internal collaboration, higher customer satisfaction, more targeted periodic reviews, and lower credit risk across the company’s customer portfolio.