The growth of B2B card payments poses a challenge to minimize risks to sensitive customer data and to keep up with continuously evolving regulations surrounding payment security. Since the introduction of PCI-DSS (Payment Card Industry – Data Security Standards) in 2004, companies have spent more than $1.7 Billion to achieve and maintain compliance. In spite of this, the number of reported breaches has grown 4 times between 2009 and 2014 in spite of standard compliance.
HighRadius Electronic Invoice Presentment and Payment (EIPP) Software provides tools that automate and speed up invoice communication and facilitate a faster collection of payments, enabling a closer and more convenient relationship with customers. It automates the invoice transmission and payment collection process providing a configurable solution that supports multiple invoice formats and different modes of transmission (fax, email, portal, etc.) depending on the targeted customer, its integration with ERP systems and a rich search capability enables efficient storage and retrieval of past invoices, backup attachments to minimize disputes and short pays. Apart from that it also has some key features that you would not want to miss out: level-III interchange and surcharge; self-service customer portal; invoicing across email, customer portals, post, and fax; advanced deduction management; and lightning e-payments. The result is faster invoicing and payment collection, better customer service, and improved profitability and cash flow.