09 Nov Reducing Operating Costs in Mid-Size Organizations
Accounts receivable is a popular area of attention for CFOs of mid-sized firms when it comes to evaluating and reducing operating costs. Understanding the financial impact of all operational expenses is critical for a growing mid-sized company since mismanagement of expenses can lead to costly losses.
To keep expenses down, it is necessary to routinely evaluate process costs and implement streamlined accounts receivable practices that will result in a reduction in associated overhead.
Sixty-four percent of finance executives anticipate embracing the shifting business climate as a chance to rethink their businesses in 2021, according to a recent Gartner report (source: The Digital Future of Finance Report by Gartner).
TRANSFORM YOUR ACCOUNT RECEIVABLES
Reduce DSO and bad debt with AI-based Integrated Receivables Platform. Connect credit, billing and invoicing, cash application, deductions, and collections into a single business process. Build a high-performance culture for your O2C teams.
WHY YOU SHOULD CHOOSE INTEGRATED RECEIVABLES:
Faster Receivables Conversion due to Connected A/R Processes
- Eliminate O2C process silos to make data-driven decisions.
- Collectors having real-time visibility into customer’s risk class and can prioritize at-risk customers.
A/R Teams Able to Focus on High-Value Tasks
- With the power of AI and RPA, A/R leaders can do more with less.
- Automate clerical tasks, including cash application, backup document aggregation.
360-Degree Visibility of Global Process Health
- A/R execs can access 100+ out-of-box dashboards and reports to track receivables performance.
- Execs can drill down further to analyze the analyst’s productivity.
REDUCE DSO WITH AI – PREDICTED PAYMENT DATES
With Collections Cloud, predict when your customer is going to make the next payment. Identify and focus on at-risk customers based on payment date prediction, aging analysis, and promise to pay trends:
- Faster Receivables Recovery with AI-Based Worklist Prioritization
- Automated Dunning via Emails and A/P Portal Integrations
- Real-Time Visibility into Collections Metrics and Collector’s KPIs
- Customize dunning strategies with AI-recommended actions, promise to pay analysis
- Identify your high-risk customers with AI-based customer segmentation
- Predict when you will receive payment to ensure faster recovery
With our Value-Based solution design approach, we have combined our extensive consulting experience and industry knowledge with HighRadius’ superior product to improve Order-to-Cash and financial performance of our client’s business, resulting in lower costs and increased profitability.
WHAT WE DO
- Evaluate HighRadius Modules to Benefit Your Organization
- Provide an Implementation Business Readiness Assessment
- Lead Project Management
- User Adoption
- Change Management in Policy, Process and Platform
HOW WE DO IT
The goal of implementing Integrated Receivables is to reduce DSO, reduce bad debt, and resolve disputes faster while improving the efficiency and accuracy of cash application, billing, and payment processing.
Our experienced experts have a proven track record in these areas as well as in reducing client risk during system implementation, ensuring a better client experience with their real-world know-how and awareness to deal with any challenges that may arise.
If you would like further information about how we can help with your Order-To-Cash or Treasury Transformation, please complete the form below.