HighRadius, an enterprise software-as-a-service (SaaS) FinTech firm, and Genpact, a digital transformation company, have teamed up on improving enterprise accounts receivable and bringing digital automation solutions powered by both artificial intelligence and advanced machine learning, according to a release.
"Many enterprises today have been unable to streamline their receivable processes, negatively impacting business operations and profitability," said Genpact Chief Strategy Officer Katie Stein. "Genpact and HighRadius will solve this challenge by delivering a transformative digital automation solution that enables businesses to maximize their working capital, while enhancing the customer and user experiences. We see a great opportunity to leverage the potent combination of domain know-how, proven technology, and digital sophistication this partnership will bring."
Both Genpact and HighRadius are going to work together to innovate within the order-to-cash cycle, which helps businesses to improve their processes in customer service, revenue optimization and other key payment areas.
"Enterprises can achieve true ROI from investing in order to cash only with an integrated receivables platform that leverages artificial intelligence to automate clerical work, enable decisions, and focus people on real value creation," said Sayid Shabeer, chief product officer at HighRadius. "This partnership will fundamentally shift accounting departments away from legacy models and toward a turnkey solution that is future-proof, scalable, and flexible."
Sashi Narahari, founder and chief executive officer of HighRadius, and Tiger Tyagarajan, chief executive officer of Genpact, plan on participating in a fireside chat called "The Past, Present, and Future of the Office of Digital CFO" on Feb. 5 at the Order to Cash and Treasury Unconference at the AT&T Stadium in Dallas, Texas.
The companies cited IDC, an analyst firm, as saying the accounts receivable process is a critical one inside of an organization, and that more companies are realizing the need to invest in SaaS platforms to fill the need for financial applications that are flexible toward the needs of a specific company.