Welcome to the world’s first educational web-series on AI in AR: Credit & A/R Manager’s Guide to Artificial Intelligence.
AI is the future? Nothing could be farther from the truth. In fact, AI is the present. It’s in our pockets, cars and homes and it also helps order groceries. Despite the hype, credit and A/R teams are yet to fully experience the benefits of a mutual relationship between AI and everyday credit-to-cash – and it’s possibly your fault.
Part 1 of this series examines common AI-related concerns for credit and A/R professionals, including those centered on job-loss. As a credit and finance practitioner you will also achieve a more nuanced understanding of AI and be better prepared when sitting across a buzzword-happy software vendor.
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.