Autonomous Receivables for Order to Cash

AI-based Cash Application Software

Enable 95% straight-through cash posting, same day cash application, and 100% savings in lockbox key-in fees

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Cash Application Automation Benefits

Solution Overview

Key Product Features

Success Stories

Resources

The Value Of AI-powered Cash Application Software Unlocked

95% Straight-Through Cash Posting

Automatically match payments and remittances to the open invoices and apply cash accurately even with an incomplete or inaccurate invoice number.

Save 100% lockbox key-in fees by applying AI-based, multi-OCR engine to capture noise-free and accurate check remittance.

Auto-extract remittances from email body and attachments (checks, customer websites and AP portals) across all file formats and languages with automated remittance software and web bots.

Auto-identify short payments, capture reasons codes and map it to the ERP-specific deduction codes.

Resolve deductions faster in no/missing remittance scenarios; where system predicts invoices as potential remittances. Reduce manual customer master data maintenance

Analyze and improve time spent by cash app analysts in exception handling. Customizable dashboards that give 360 degree visibility into all the metrics for measuring productivity of the cash app team.
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HighRadius named as Leader in Gartner's 2023 Magic Quadrant for Invoice to Cash

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HighRadius Cash Application Cloud Overview

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Transform your Cash Applications Management in Record Time!

Get results fast with HighRadius, delivering ROI in 3-6 months.

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Key Product Features

100% Automated Payments Data Capture

Automatically capture payment information from all the industry-standard bank payment file formats (BAI, BAI2, EDI 820, EDI 823, MT940, CAMT) with multi-language support

100% Automated Remittance Aggregation

Automatically capture accurate, noise-free check remittance information from all industry-standard bank payment file formats and remittance file formats such as PDF, HTML, Excel, JPEG, etc

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Automated Invoice Matching

Automatically link invoices to payments for the most complex scenarios including parent-child relationships and identify customer for the payment through MICR number, email domain and invoice

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Auto-Identification & Submission Of Remittances in No Remittance Scenario

Automatically predicts invoices or promise to pays as potential remittances and links them to payments, allowing customers to submit remittances via collectors or portal.

Automated Deductions & Discount Coding

Automatically map customer reason codes with internal ERP-specific reason codes and validate whether discounts taken by customers are based on payment terms or trade promotions

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Remote Cash Posting with RDC and Mobile Payments

Integrate with renowned RDC scanners to eliminate lockbox charges and enable same day cash posting. Empower field agents to collect check payments/remittance with mobile devices

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AI & ML-based Proactive Exception Handling

Get noise-free check images and predicted line-item level data from images to suggest reference numbers and reduce manual customer master data maintenance

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100% Automated Payments Data Capture

Automatically capture payment information from all the industry-standard bank payment file formats (BAI, BAI2, EDI 820, EDI 823, MT940, CAMT) with multi-language support

Automatically capture accurate, noise-free check remittance information from all industry-standard bank payment file formats and remittance file formats such as PDF, HTML, Excel, JPEG, etc
Learn more

Automatically link invoices to payments for the most complex scenarios including parent-child relationships and identify customer for the payment through MICR number, email domain and invoice
Learn more

Automatically predicts invoices or promise to pays as potential remittances and links them to payments, allowing customers to submit remittances via collectors or portal.

Automatically map customer reason codes with internal ERP-specific reason codes and validate whether discounts taken by customers are based on payment terms or trade promotions
Learn more

Integrate with renowned RDC scanners to eliminate lockbox charges and enable same day cash posting. Empower field agents to collect check payments/remittance with mobile devices
Learn more

Get noise-free check images and predicted line-item level data from images to suggest reference numbers and reduce manual customer master data maintenance
Learn more

See it in action, How Autonomous Cash Application Software Can Post Cash Accurately

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Cash Application Automation For SMBs/Mid-sized Businesses

Eliminate manual efforts of capturing remittance data and achieve straight through cash posting with our Cash Reconciliation software that is specifically tailored for small & mid-sized businesses, scalable to your business needs with quick implementation.
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Success Stories

56 Man-Hours

80% automated cash posting from 50-55%; saving 56 man-hours per week

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100%

100% touchless cash posting even for exceptional scenarios, missing data & unfamiliar payment formats

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95%

95% touchless auto-cash posting hit-rate achieved within 90 days of implementation

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World's only AI-powered Accounts Receivable Software

Transform your Order to Cash process through end-to-end automation of Credit, Billing & Invoice, Cash Application, Deductions and Collections

Autonomous Receivables

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Credit

Mitigate risk with real-time credit risk visibility. Get comprehensive workflows to manage your global portfolios.
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Billing & Invoice

Enable frictionless billing and payments globally through auto-invoice delivery and self-serve payment portals
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Deductions

Improve net recovery rate and DDO with prioritized Deductions Resolution with AI-based Dispute Validity Predictor
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Collections

Achieve Faster Receivables Recovery to reduce DSO with AI-Based Worklist Prioritization & Automated Dunning Capabilities
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Want to know why Integrated Order to Cash process is the future?

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Resources

HighRadius Deduction Automation Datasheet

HighRadius Cash Application Automation Datasheet

In this datasheet we cover the challenges that the cash application teams face, how HighRadius could help with them and the success stories.
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Accounts Receivables Dispute Management

Business Case Template For Cash Application Automation

This package contains an excel sheet and an ebook for A/R leaders for justifying a business case in an automated cash application system.
Download the template
Resolving Deductions 2x Faster

The Curious Case of Remittance Aggregation: Essentials for Modern AR

This whitepaper features the implications of automating remittance for cash, impacting the organization’s working capital and cash flow.
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Frequently Asked Questions

How many banks does your system currently support?

Bank Of America, JP Morgan, CITI, Scotia, Wells Fargo etc. to name few. We have integration with lot of banks.

We will be able to handle most of the IT related efforts during the implementation. All we need the IT is for getting us the open AR extract and the bank payment file. This will be usually around a week worth of efforts spread across the implementation time frame.

Project timeline depends on the complexity of the scope. Its generally between 8-16 weeks

What are the benefits of automated cash application?

Our automated cash application software helps you achieve faster and accurate cash posting, save 100% lockbox key-in fees and eliminate the hassle of manually collecting remittance data.

We are an ERP agnostic software that integrates with any and all of the ERPs like SAP, Microsoft Dynamics 365, Oracle, Netsuite, etc.

Security is of paramount importance to each of our customers as it is to us. We are SSAE16 Soc I Type II certified, PCI-DSS Compliant and CSA Registered. We strictly follow all Industry standards and best practices.

Typically our pricing has two components the one time setup fees and a monthly recurring subscription fee. You can get on a call with us and get a customized pricing according to your business needs.

Manual remittance data capture from various formats and sources, paying lockbox fees for checks, coding ERP codes to disputes, missing remittance scenarios are the major challenges to name a few.