HighRadius Launches New FreedaGPT Use Cases At Radiance Annual Conference

In his keynote, CEO Sashi Narahari, described how HighRadius’ AI solutions will enable finance professionals to become data scientists - by using English as a programming language. 

HOUSTON – March 1, 2024 – HighRadius hosted the largest UNConference for the office of the CFO, Radiance 2024 on Feb 13th & 14th, 2024, at Globe Life Field Stadium in Dallas. 

The event’s key theme was the transformation of finance and finance professionals as a result of new technology. “Finance will be the fastest adopter of AI, and everyone in finance will become a data scientist” said Sashi Narahari, Founder and CEO of HighRadius. “Until now, financial modeling required special coding skills. The LiveCube 2.0 platform enables finance professionals to use ‘English’ as the coding language to perform complex analysis and even create ML models.”

HighRadius will play a key role in this transformation through GenAI-powered FreedaGPT, which saw new use-cases launched in the event, and LiveCube - No Code platform, which also had updates.

FreedaGPT is a Gen-AI assistant for Order-to-Cash, Treasury, and Accounting teams across the HighRadius Autonomous Finance platform. Modules include:

• FreedaGPT Email Compose: Drafts tailored responses for incoming emails and attaches relevant documents like invoice copies, account statements, proof of delivery documents, etc. Ex: Collectors respond quickly to emails, freeing up their bandwidth.
• FreedaGPT Call Assistant: Automates call-to-note summaries and suggests actions Ex: A Collector needs to make notes & follow-up after a call. FreedaGPT Call Assistant generates call note summary in real-time, creates a draft follow-up email, including the summary of the conversation and automatically logs a promise-to-pay or dispute or follow-up based on the conversation
• FreedaGPT Support: Assists with support queries where self-service resolutions exist, thereby eliminating the need to create support cases.  Where self-service resolutions don't exist yet,  FreedaGPT will capture the right information in natural language from the user and automatically create the support case.
• FreedaGPT Insights: Generates reports and summary charts instantly using natural language responses in a chat window. Ex: AR Manager who wants more information regarding anomalies can just query FreedaGPT “Show the top 5 anomalies with high risk where the currency is USD”, which then generates summary reports, insights, and graphs within seconds.

Also announced was LiveCube 2.0, a no-code platform, which enables finance business users in automating high-volume transaction data analysis with an Excel-like front-end. It now features ‘LiveCube analysis with FreedaGPT’ - where English language prompts can be used by finance professionals to collate, compare and validate datasets and then initiate resolutions.

HighRadius also launched ‘Accounts Payable Automation’, the latest addition to its Office of the CFO software platform. This is the industry’s first GenAI Native product suite that will transform the way AP teams currently operate and drive improvement in supplier relationships.

About HighRadius Corporation

HighRadius offers cloud-based autonomous software for the office of the CFO. More than 800 leading companies have transformed their order-to-cash, treasury, and record-to-report processes with HighRadius. Our customers include 3M, Unilever, Anheuser-Busch InBev, Sanofi, Engie GBS Solutions, Kellogg Company, Danone, Hershey's, and many more.

Autonomous software is data-driven software that continuously morphs its behavior to the ever-changing underlying domain transactional data. It brings modern digital transformation capabilities like artificial intelligence, robotic process automation, natural language processing, and connected workspaces as out-of-the-box features for the finance & accounting domain.

Before the availability of autonomous software, finance stakeholders had to pick between a digital replacement of a paper-based solution or build & maintain custom RPA/AI-based tools in-house. In contrast, HighRadius' autonomous platform combines the best of both worlds to deliver measurable business outcomes such as DSO reduction, working capital optimization, bad-debt reduction, reduced month-end close timelines, and improved productivity in under six months.