Artificial Intelligence for high-impact decision making across HighRadius cloud solutions for credit, collections, cash forecasting, cash management, cash application, billing and payments.

Embedded Decision Making with Your Receivables and
Treasury Data

30 mins free consultation

THE CHALLENGE

Regular Software Does Not Enable Decisions

Most software applications are developed on the CRUD (create-retrieve-update-delete) paradigm for electronically centralizing information, thereby enabling workflow collaboration between users. While this is a major upgrade over paper-based processes, such systems have minimal intelligence and completely rely on end-user judgement to make key decisions.

Although all business processes rely on human-generated insight and analysis for success, it is nearly impossible for treasury and A/R analysts to effectively scale, given that they spend 80% of their time in clerical tasks, processing huge volumes of transactions.

Additionally, it is nearly impossible for analysts to account for all the various dimensions and patterns that influence order to cash or treasury outcomes, and hence they rely on individual judgement based on experience. For example:

Why Embedded Decision Making is Essential

Currently, most collections analysts chase past-due customers without complete knowledge of their payment behavior.
Companies receive thousands of deductions every day. And while most of them are valid, deduction analysts still spend countless hours executing routine steps to confirm deduction validity for each one.
Credit analysts perform credit reviews on blocked orders which for the most part result in releasing the order in an unconfirmed expectation of future payments.
Treasurers forecast critical cash inflows such as receivables using spreadsheet models built on bank statements or overall aging level data resulting in low-accuracy forecasts.

THE SOLUTION

Embedded Decision Making with Machine Learning

With HighRadius Rivana – decision making is now an integral part of receivables and treasury processes. Rivana combines the power of Machine Learning with rich A/R, A/P, payments, non-operational cash flow, FP&A and bank statement data, to help both receivables and treasury departments to significantly reduce the manual effort lost in transaction processing or statistical forecasting, freeing up their time for critical high-value work. Additionally, the AI platform enables rich, data-backed insights enabling analysts to take actions resulting in more favorable outcomes.

HighRadius Rivana Artificial Intelligence Platform is currently built on a dozen machine learning algorithms to continuously learn and provide insights on all possible A/R and treasury scenarios including use-cases such as predicting invoice payment dates, validation of deductions, predicting customer default or forecasting cash flows with pinpoint accuracy right upto individual invoice level and across all cash flow categories.

The current generally available platform relies on learning algorithms such as regression and classification done using Decision Trees and Random Forest methods.

HOW IT WORKS

Accurate Analysis with your A/R Data

Companies need technology to complement human intuition and decision making. Your A/R data is a rich resource and foundation for making credit and A/R decisions that could result in better outcomes for the entire order-to-cash process. With machine learning algorithms customized to meet use-cases across credit and receivables, HighRadius Rivana is set to help you leverage the true power of your customer and A/R data.

Artificial Intelligence across Order-to-Cash

Working with the HighRadius Integrated Receivables platform enables HighRadius Rivana to tap into your A/R data and provide additional information and insight by taking inputs from across processes to predict and work across all modules and helps you arrive at more accurate decisions.

AI For Cash Forecasting

HighRadius Rivana to taps into the GL transaction data from your ERP, historical bank statements and FP&A data to provide highly accurate cash flow forecasts across all operational and non-operational cash flow hierarchies.

HIGHRADIUS RIVANA

Decision Analytics for A/R and Treasury

Deductions

Invalid Dispute Identification

Deduction Management teams and analysts process hundreds of thousands of deductions every year. However, even if a deduction is valid, it still requires a set of manual, time-consuming tasks to be executed before an analyst is able to determine its validity. With more than half of all deductions being valid, this means that credit and A/R teams lose productivity that could have been spent on resolving and collecting on invalid deductions.

HighRadius Rivana allows deduction analyst to focus on resolving disputes which are more likely to be invalid. Employing classification algorithms, Rivana is capable of identifying deductions which have a very high probability of being valid and is able to automatically resolve them or move them or de-prioritize them on the analyst's worklist.

Deductions Invalid Dispute Identification

Collections

Payment Date Prediction

More than 70% of all collections correspondence is directed at customers who would have paid even without the dunning email or reminders. However, other than some form of static prioritization for their worklists, analysts have no means to identify customers or accounts which do not require any dunning. This means that analysts are able to spend less time on 'at-risk' accounts.

HighRadius Rivana allows collection analysts to focus on only the most critical customers and invoices. Leveraging regression using Decision Trees, Rivana is able to predict an actual payment date for every invoice. Analysts are able to use this additional insight available for each insight to determine the right course of action when following-up with a customer.

Cash Forecasting

More than 98% treasury departments still forecast cash using cumbersome spreadsheets models which demand manual effort and time to build and input data but generate output which cannot be confidently relied upon by treasurers to make long term investment decisions or manage short term working capital requirements.

HighRadius Rivana automates the entire cash forecasting process from data gathering to forecast generation to provide outputs which are detailed at an invoice level, across all operating and non-operating cash flow categories thereby enabling treasurers to make more confident long term decisions.

BENEFITS

Supporting A/R teams in everyday decision making with data

Accurate Decisions

Leverage your A/R data and machine learning to support users with accurate decision inputs and forecasts

Discover Insights

An ever-growing customer base is impossible to keep up with. Get data-backed insight into customer preferences.

Improve Productivity

Save the time lost in looking for data in your open A/R and customer records. Focus resources on actual value-add work.

Accurate Forecasts

Make better long term investment and funding decisions with highly accurate cash forecasts.

INTEGRATED RECEIVABLES

Powered by HighRadius Rivana

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