HighRadius,
a fintech enterprise Software-as-a-Service (SaaS) company, specializing
in Artificial Intelligence (AI)-based autonomous systems for Accounts
Receivables and Treasury processes, announced its latest offering – AI-Based
Cash Forecasting Cloud. The new solution will enable treasurers to
achieve accurate, real-time cash forecasting without having to manually
collect and transpose data across spreadsheets and various systems.
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HighRadius launches AI-enabled cash forecasting solution for treasurers (Graphic: Business Wire)
Built on RivanaTM,
HighRadius’ proven Machine Learning Platform for finance departments,
the solution will enable companies to accurately forecast cash flows
with purpose-built AI algorithms at individual operational categories
including accounts receivable (A/R), accounts payable (A/P), expense and
payroll.
Sashi Narahari, Founder & CEO, HighRadius, explained, “Treasurers have
been demanding a higher degree of cash forecasting accuracy to help them
evolve beyond managing daily funding and low-yield investments, to
making higher yield decisions. We have successfully solved A/R
forecasting with AI by predicting payment dates at an invoice level and
now we’re introducing AI-based, automated, forecasting models for
high-variability cash flow categories including A/R and A/P to enable
the digital transformation of the treasury function.”
HighRadius’ extensive research with treasury leaders across industries
revealed that more than 98% of corporate cash forecasting is performed
using spreadsheets with basic formulas. In addition to being manual and
time consuming, most of these techniques do not incorporate any
statistical modeling on large volumes of data to drive accurate
forecasting. This is crippling corporate treasurers from making
confident short-term and long-term debt and investment decisions.
Trusted by Fortune 500 and Global 2000 companies, HighRadius has a track
record of success deploying AI-driven software solutions used by various
corporate finance professionals, teams and departments. The AI-based
Cash Forecasting Cloud joins HighRadius’ treasury management
applications which also include Cash Management Cloud and Bank
Reconciliation Cloud.
About HighRadius
HighRadius is a Fintech enterprise Software-as-a-Service (SaaS) company
which leverages Artificial Intelligence-based Autonomous Systems to help
companies automate Accounts Receivable and Treasury processes. The HighRadius®
Integrated Receivables platform reduces cycle times in your
order-to-cash process through automation of receivables and payments
processes across credit, electronic billing and payment processing, cash
application, deductions and collections. HighRadius® Treasury
Management Applications help teams achieve touch-less cash
management, accurate cash forecasting and seamless bank reconciliation.
Powered by the RivanaTM
– the Artificial Intelligence Engine Purpose-Built for Finance and the FreedaTM
Digital Assistant, HighRadius enables teams to leverage machine learning
to predict future outcomes and automate routine labor-intensive tasks.
The radiusOneTM
B2B Collaboration Network allows suppliers to digitally connect with
buyers, closing the loop from supplier receivable processes to buyer
payable processes. HighRadius solutions have a proven track record of
increasing operational efficiency through automation, optimizing cash
flow, reducing days sales outstanding (DSO) and bad debt, so that
companies may achieve strong ROI in just a few months. To learn more,
please visit www.highradius.com.
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