Despite the expanding shift to electronic payments and remittance, Lockbox processing and cash application continue to be the most manual processes in the accounts receivable space. For years, A/R Departments have had to pay for bank key-in fees or allocate resources and time on the low-value tasks required in cash application. Today, Artificial Intelligence enabled automation technology is empowering organizations to enhance standard SAP Lockbox functionality and achieve best-in-class automation rates of over 90%.
In this session, discover the best practices learned from 150+ global organizations that have been able to automate the processing of remittance across formats including check remittance, e-mail remittance, website remittance, and EDI.
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
