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Out of this world order-to-cash automation


Fintechs come and fintechs go, but some stand the test of time and eventually take their place among the world’s leading technology companies. HighRadius, with its focus on automating the order-to-cash process, is on that trajectory. The company’s vice-president of customer success, Natalie Fedie, explains how it stands out from the crowd.


he finance function has undergone a revolution in recent years, driven by changes in what customers and internal business users need. No longer just the holders of the purse strings, finance professionals have now become true business partners for stakeholders across their organisations – as well as playing a vital role in customer relationships. As the finance team forges new relationships, and adapts its way of working, it must also redefine the tools that it uses to achieve its goals. The CFO needs to ensure that new levels of insight are derived from financial data – and that optimal efficiency is achieved in essential tasks, not least the order-to-cash (O2C) process. This is where fintech partners can help. “In the finance function, there is more focus on increasing the efficiency of staff, which means automating repetitive processes so that people can focus on higher-value tasks, whether that means building customer relationships or collecting from higher-value customers,” says Natalie Fedie, VP of customer success at HighRadius.


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A software-as-a-service (SaaS) company with an impressive growth trajectory, HighRadius specialises in automating the O2C process with its integrated receivables platform. The cloud-based solution enables businesses to reduce cycle times through the automation of receivables and payments processes across credit, electronic billing and payment processing, cash application, deductions and collections.


In short: HighRadius’s goal is to help companies put their order-to-cash process on autopilot and make the most of innovative, new technologies.


Flying high on innovation


Fedie is responsible for helping customers maximise their return on investment in HighRadius software, and for ensuring that the company and its technology stay one step ahead of customer needs. HighRadius achieves this by leveraging the deep understanding of the finance function that led the mastermind behind the business – president and CEO Sashi Narahari – to start the company ten years ago.


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“Back then, we had a bolt-on accounts receivable solution, but it quickly moved to the cloud in the mid-2000s to eliminate the expense of maintaining a technology solution,” Fedie notes. “Since then, we have added to it to create a smart solution that uses AI in a way that makes a real difference. Now, we have a cloud-based solution that helps unlock the power of people in the finance function through the application of smart, AI-enabled treasury management applications.”


HighRadius provides the only end-to-end accounts receivable software platform for lowering day sales outstanding (DSO) and bad debt, automating cash posting, speeding up collections and dispute resolution, as well as improving team productivity. The platform uses Rivana Artificial Intelligence for accounts receivable to convert receivables faster and more effectively; using machine learning to predict future outcomes and automate labour-intensive tasks. The AI component is particularly powerful in helping companies increase efficiency in O2C and treasury systems, by gaining valuable insight from the data a company has in its existing systems. It can, for example, look at key value metrics such as DSO, and analyse the activities that contribute to it. It can then focus on the productivity of collections analysts to highlight ways in which they can improve their overall performance.


Furthermore, it can help the team verify transactions and reach out to customers. Its purpose is to generate meaningful insight into how agents can recoup money quicker, but the first step in the process is ensuring that the AI engine has the right data on which to work. “We identify the data and where it is within the company, then we help to bring all of that data into one place,” Fedie explains. “This is especially important if a company does not have shared services or a single ERP system.”


The comprehensive approach to data management, AI-enabled analysis and workflow is a result of the core values that HighRadius put in place from the outset. Its focus is firmly on delivering efficiency and


Finance Director Europe / www.ns-businesshub.com


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