Electronic payments have seen an unprecedented growth in recent years. The fact is, electronic payments are here to stay, and corporations with paper-based technologies are ill-equipped to handle electronic processes and will struggle with increasing processing costs.
Common reasons for not moving towards electronic payment integration include myths like customer unwillingness, higher processing costs and security concerns. The latest technology, however, has advanced so that electronic payments are processed at lower costs than checks. Simultaneously, the risk associated with electronic payments acceptance is also reduced.
HighRadius Collections Software automates and optimizes the credit & collections management process to improve collector efficiency, minimize bad debt write-offs, improve customer relationships, and reduce DSO. It provides a complete set of tools to optimize and automate the credit collections management process and enable the better prioritization of credit collections activities All the information you need (invoices, dispute information, POD, claims, tracking info, etc.) on each case is automatically presented in a collections work-space and is ready for use. Apart from the wide variety of benefits that it has, it also comes with some amazing features like CADE (Collection Agency Data Exchange), collector’s dashboard which has prioritized collections worklist, automated dunning & correspondence, dispute management, centralized tracking of notes, call logs & payment commitments along with cash forecasting functionalities. The result is a more efficient collections team that contributes to enhanced cash flow and reduced DSO.