HighRadius – Enabling companies to automate accounts receivable and treasury processes using artificial intelligence

The Silicon Review

The new fintech infrastructure companies have made it possible for SaaS businesses to add financial services alongside their core software product. By adding fintech, SaaS businesses can increase revenue per customer and open up new SaaS markets that previously may not have been accessible due to a smaller software market or inefficient customer acquisition. This wave is happening first in vertical markets (meaning the market around a specific industry, such as construction or fitness). Vertical software markets tend to have winner-take-most dynamics. The vertical SaaS business that can best serve a specific industry's needs often becomes the dominant vertical solution and can sell both software and financial solutions to their core customer base.

HighRadius is a Fintech enterprise Software-as-a-Service (SaaS) company that leverages Artificial Intelligence-based Autonomous Systems to help companies automate Accounts Receivable and Treasury processes. The Integrated Receivables platform reduces cycle times in your order-to-cash process by automating receivables and payments processes across credit, electronic billing and payment processing, cash application, deductions, and collections. The company's products provide value to a wide range of customers. They are especially relevant to industries like consumer products, manufacturing, distribution, energy, and others that sell products or provide services to other businesses.

Saas-Based products furnished by HighRadius

Credit Cloud

It is a streamline credit management to achieve proactive, agile, and efficient risk management operations. It enables credit managers to make quicker and more accurate decisions with real-time credit data insights from credit agencies, bureaus, and public financials. Online credit applications simplify the process of aggregating customer data and reduce the to-and-fro with the customer for omitted or incorrectly entered credit information. Credit agency reports, public financials, and other decision inputs are auto-extracted from agencies such as D&B, Experian, CreditSafe, NACM, and made readily available with the application and during periodic reviews. Real-time visibility on credit health and analyst productivity Gain end-to-end process visibility with out-of-the-box reports and dashboards to track team productivity and key credit metrics including credit utilization, bad-debt, customer onboarding time, blocked order resolution speed, periodic review coverage, and analyst productivity. Receivables Analytics offers intuitive data visualization, which helps you drill down into individual reports to identify bottlenecks or issues in the credit management process.

EIPP Cloud

EIPP Cloud eliminates the friction in billing and payments, allowing buyers to access their invoices and pay using options that work for them. Buyers and suppliers can seamlessly collaborate for A/R activities such as remittance submission; claim uploads, and tax certificates. The auto-invoice presentment ensures invoice delivery through emails, e-fax, postal mail, EDIs, SMS. It integrates with web-portals (SAP Ariba, Coupa) and accounting systems (QuickBooks, Sage) to push invoices and track invoice status on a real-time basis. Your customers can access the payment portals to make payments in their preferred currency and payment format. EIPP portal supports 15+ languages, five currencies, and 150+ payment formats such as ACH, credit cards, virtual cards, SEPA, GiroPay. Spot e-adoption trends with real-time tracking to analyze customer segments for e-invoicing and e-payment adoption and usage, and stay on top of payment acceptance costs across payment methods and formats.

Cash Application Cloud

It provides lower operating costs for accurate, same-day, on-invoice cash posting. Cash Application Cloud automates remittance aggregation from different sources/formats, payment linking, invoice matching, deduction coding, and ERP posting. Remittances can be auto-extracted across various sources and formats such as check stubs, emails, EDIs, web portals without any manual intervention. Your cash app team can view these remittances in a compressed format in the solution. Cash Application Cloud leverages AI capabilities to accurately auto-link payments with the open invoices and ensures automated deduction coding. Your cash application analysts can spend more time on other high-value tasks.

Cash Forecasting Cloud

HighRadius Cash Forecasting Cloud, an advanced forecasting system, leverages the proven RivanaTM Artificial Intelligence (AI) platform to provide the most accurate cash flow forecasts right from a ledger account level and rolling up to the organizational level. Delivered as a Software as a Service (SaaS), the solution seamlessly integrates with your company's ERPs, accounting systems, banks, and order management systems. Multiple AI and Machine Learning algorithms process datasets, including bank statement inflows/outflows, sales orders/customer invoices, purchase orders/vendor invoices, and expense reimbursements for comprehensive as well as accurate cash flow forecasts. The closed-loop, machine learning feedback system ensures that the forecast models become more accurate with time.

The mastermind behind the success of HighRadius

Sashi Narahari is the President and serves as the Chief Executive Officer of HighRadius. He brings a unique combination of business management expertise and technical knowledge to his leadership of the HighRadius team and corporate strategy. He has worked with many Fortune 1000 companies in implementing credit management, collections management, dispute management, and invoicing and payment solutions. Prior to HighRadius, Mr. Sashi served as the CEO of Riversand Technologies, a provider of Master Data Management (MDM) solutions.

Mr. Sashi holds a Master's Degree in Mechanical Engineering from the University of Maryland, College Park, and a Bachelor's Degree from the Indian Institute of Technology (IIT) Madras.