NACHA predicted that by the end of 2020, 45% of the B2B payments would be via ACH, while check payments would come down to 34%. The COVID crisis seems to have a positive impact on e-adoption rates for billing and payments- as most business leaders are looking to go-digital in an attempt to have an accelerated cash flow. But the struggle does not end here. On an average it takes 34 days to pull remittances and link it with the corresponding payments, which makes manual cash application a major challenge for A/R leaders globally.
Join this webinar from HighRadius to understand electronic invoicing presentment and payment, and cash processing capabilities that you need in the current environment. Learn from our expert statistics on how industry leaders are pivoting to digital invoice-to-cash, what tools they are looking to deploy in the current economy, and how artificial intelligence fits in the equation.
HighRadius’ Award-winning AI-enabled solutions power 200+ Fortune 1000 companies to optimize their Order-to-Cash and Treasury Process. HighRadius’ Autonomous Systems, comprising of Integrated ReceivablesTM , Cash Forecasting Cloud, RivanaTM and FreedaTM , use AI-powered technology and digital assistants to improve Receivables and Treasury processes beyond best-in-class industry benchmarks.
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.