In 2013, a Vice President at a top 10 bank said, “Remittance is not among the things that the corporate treasurer worries about and neither should we.” They could not have been more wrong.
Today, corporates want faster e-payment reconciliation to complement the faster settlement achieved with the proliferation of electronic payment formats including ACH and credit cards. In the absence of suitable bank offerings, corporate clients have moved electronic remittance processing to 3rd party service providers – creating a dent in traditional lockbox service revenue.
In response, banks have adopted ad-hoc strategies – adding more staff, or investing in old school OCR technology – neither of which have helped e-remittance processing develop into a scalable, cost-effective revenue stream.
HighRadius Integrated 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. Integrated 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.
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We have seen financial services costs decline by $2.5M while the volume, quality, and productivity increase.
Colleen Zdrojewski
Trusted By 800+ Global Businesses
HighRadius Corporation
2107 CityWest Blvd,
Suite 1100,
Houston, TX 77042
