The Credit and A/R team at Toro, a $5B American manufacturing firm, faced a multitude of challenges including high levels of DSO, bad debt, non-standardized collections and deductions processes and, absence of credit management workflows.
The team evaluated SAP Receivables Management and partnered with HighRadius to standardize business processes and apply best practices for the Receivables Management project.
HighRadius Autonomous 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. Autonomous 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.