11 Global Payment Formats: The Treasurer’s Guide to a Preferred Payment Mix

The Wave of Change in Payment Mix

According to a CRF survey, 79% of the business organizations are shifting towards a global business model.

It is important for the treasury team to support the most prevalent payment formats to ensure:

• Low-cost payment acceptance
• Successful cross-border deals and business expansions
• Better customer experience
• Standardized cash posting

“Inability to process newer payment formats could direct your prospects to your competitors”

Thus the treasury teams should be specifically aware of the 11 most
-used payment formats to accept, process and also recommend them to a customer looking for payment recommendations

Cash application cloud ensures seamless cash posting. It ensures the following:

✓ 95% Zero-Touch Cash Posting for Checks, ACH, Cards
✓ Eliminate 100% of Lockbox Key-In Fees
✓ Artificial Intelligence-Enabled Data Capture

The key features of this product include:

✓ Check remittance capture
✓ Email remittance capture
✓ Web remittance capture
✓ Invoice matching
✓ Discounts and Deductions handling
✓ Remote deposits and mobile payments

HighRadius is a Fintech enterprise Software-as-a-Service (SaaS) company. The HighRadius^TM Integrated Receivables platform reduces cycle times in the order-to-cash process through automation of receivables and payments across credit, electronic billing and payment processing, cash application, deductions and collections.

Powered by the Rivana^TM Artificial Intelligence Engine and Freda^TM Virtual Assistant for order-to cash teams, HighRadius enables organizations to leverage machine learning to predict future outcomes and automate routine labor-intensive tasks. The radiusOne^TM B2B payment 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 optimizing cash flow, reducing days sales outstanding (DSO) and bad debt, and increasing operational efficiency so companies may achieve strong ROI in just a few months

HighRadius’ Integrated Receivables Platform

Integrated Receivables optimizes accounts receivable operations by combining all receivable and payment modules into a unified business process. The Integrated Receivables platform provides solutions for credit, collections, deductions, cash application, electronic billing, and payment processing – covering the entire gamut from credit-to-cash.

The HighRadius^TM Integrated Receivables platform stands out by enabling every credit and A/R operation to execute real-time from a unified platform with an end goal of lower DSO, reduced bad-debt, and faster dispute resolution while improving efficiency and accuracy for cash application, billing, and payment processing.

HighRadius^TM Integrated Receivables leverages Rivana^TM Artificial Intelligence for Accounts Receivable to convert receivables faster and more effectively by using machine learning for accurate decision making across both credit and receivable processes. The Integrated Receivables platform also enables suppliers to digitally connect with buyers via the radiusOne^TM network, closing the loop from the supplier Accounts Receivable process to the buyer Accounts Payable process.