Financial software firm HighRadius has unveiled LiveCube, a platform for CFOs.
The platform lets finance business users build their own applications “as extensions to standard functionality received from enterprise systems” without needing to rely on IT department or admin users, using an “Excel-like” spreadsheet interface, the company said in a Tuesday (Feb. 28) news release.
“There are 3.3 billion business users globally whose productivity and innovation are bottlenecked by only 27 million software developers,” Sashi Narahari, HighRadius founder and chief executive, said in the release.
“This imbalance has hindered users from making even the most basic improvements, as the smallest changes in their daily workflows require going back to their IT departments or technology vendors.”
LiveCube solves this imbalance, he said, by giving finance professionals the ability to rely on a familiar interface without having to worry about things like data integrations and scalabilty, “which happens entirely behind the scenes.”
Among the uses for LiveCub are its “Order-to-Cash” function, which lets collection managers use a set of custom parameters to reprioritize their collectors worklists.
Treasury users, meanwhile, can use the platform to apply different scenarios — anticipated delays in accounts receivable for example — and compare them to their baseline cash forecast and make suggestions for course-correction.
As PYMNTS has written, applying technology to help in areas where human error can have unwanted impact can let finance teams “act strategically in their role and responsibilities as businesspeople more broadly, rather than the narrower role of bookkeeper.”
Research by PYMNTS shows that just under half of B2B software-as-a-service (SaaS) solutions providers have not updated their manual procedures, a sign that there’s a vast opportunity for companies to drive growth with digitization tools that automate both key and the more mundane business operation processes.
As digital payment platforms and solutions continue to become a larger part of the CFO’s office, expect to see — in all industries — a greater integration of automated solutions designed to help drive top-line momentum and remove avoidable error without sacrificing speed.
PYMNTS’ research has found broad-range interest in consolidating non-payroll spend management into an automated system.
“The rise of no-code technologies will help spur this digital transformation, as the ease of integration makes these tools more appealing than they may have been in the past when more of an onboarding lift was required,” PYMNTS wrote.
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