Accounts Receivable

HighRadius Rolls Out Technology Suite For AR Automation

HighRadius Rolls Out Suite For AR Automation

To automate accounts receivable (AR) for mid-sized companies, HighRadius has rolled out its RadiusOne A/R Suite. The FinTech enterprise Software-as-a-Service (SaaS) company, which is focused on automating treasury management and order-to-cash processes, said the new technology reinforces its investment and plan to make AR automation an important driver for business expansion, according to an announcement.

HighRadius Founder and CEO Sashi Narahari said in the announcement, “We launched the RadiusOne B2B Network to facilitate suppliers and AR teams to digitally connect with their buyers and AP [accounts payable] teams for faster processing of receivables and payments. Currently, the network has millions of active businesses. The RadiusOne A/R Suite will provide the essential apps for AR teams at midsized businesses to instantly plug their ERPs and AR processes into this network and digitally connect with their buyers across the globe.”

The company said that the suite “uniquely positions itself” in a market that is not well-served by providing a cash reconciliation app, eInvoicing and collections app. It also offers a credit risk app to assist mid-sized companies in harnessing AR automation technology to surmount their largest hurdles when it comes to working capital optimization.

The eInvoicing and collections app, for instance, automates collections, payment acceptance and eInvoicing for quicker conversion of outstanding invoices to cash. In addition, the credit risk app automates credit scoring with built-in credit information for more rapid client onboarding. Also, the cash reconciliation app automates cash reconciliation and remittance capture to bolster productivity and enable a focus on downstream processes like credit and collections.

The company also noted that the RadiusOne A/R Suite comes pre-loaded with settings based on best practices specific to certain verticals. It said the solution can be put into place within a few weeks with a minimum amount of technical assistance, offering “out-of-box integration” with Sage Intacct, Infor, MS Dynamics and Netsuite.

In separate news, HighRadius and Genpact had joined forces to enhance enterprise AR with digital automation powered by advanced machine learning (ML) and artificial intelligence (AI), per a release in February.

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New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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