Solutions for Banks
HighRadius Integrated Receivables Platform allows banks to modernize treasury management services and streamlines the receivables-to-cash cycle for corporate clients. With a modular design, the flexible solution addresses specific business needs. It includes remittance-capture across paper and electronic formats, B2B receivable and consumer bill payment reconciliation, enterprise invoicing and payment acceptance, short-payment identification and deduction resolution workflows, as well as a central repository of all payment streams and remittance information.
HighRadius Integrated Receivables creates real dollar-savings for your clients through faster processing of receivables and elimination of low-value manual tasks. HighRadius Integrated Receivables is a definitive addition to your corporate treasury offering, as the SaaS-based solution is quick and cost-effective to deploy, without the need for significant capital expenditure or IT development to install and manage complex hardware and software.
Clients benefit from the elimination of manual work in the cash application process by automating the capture of remittance and reconciliation of payments with open receivables. Consolidation and automated processing of consumer bill payments across multiple sources enables treasury and A/R teams to achieve straight-through payment processing. Automated identification of short-payments, auto-coding of deductions and deduction resolution workflows significantly expedite deductions research and recovery. Enterprise EIPP powered by the RadiusOneTM Network serves as a one-stop solution for all enterprise invoicing and payment acceptance requirements. The payments hub enables clients to achieve a unified, global repository of all payment information across all banking channels.
- Eliminate the need to interface with multiple IT systems through a single platform for end-to-end credit-to-cash processing and automation
- Achieve processing and reconciliation of all payment sources including checks, deposits, ACH, wire transfers and cards covering all B2B receivables and consumer bill payments
- Streamline invoicing and increase e-payment adoption using the RadiusOneTM Supplier-Buyer Network
- Expedite deductions research with workflows for resolution and automatic backup document aggregation
- Achieve a single stream of all receivables and consumer payments with one-click reporting and analytics
- Maximize savings in receivables operations by automating more than 80% of clerical, repetitive tasks
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