HighRadius Vs. Esker

Introduction

Managing accounts receivable can be a challenge for finance professionals, with manual tasks eating up time, limited cash flow visibility, and collections often lagging behind. Automation has become a game-changer, helping AR teams stay efficient and competitive.

HighRadius and Esker are two leading AR automation platforms, both designed to simplify processes, reduce friction & improve productivity. While they share a common goal, their features and approaches differ, making it important to find the one that fits your business needs. In this article, we’ll break down their strengths and ideal use cases to help you decide.

Features of HighRadius Vs Esker

Both HighRadius and Esker offer powerful tools to transform AR processes, but their unique capabilities cater to different priorities. Here’s a quick breakdown of their standout features:

Discovering the Ideal Solution For Your Business Needs

Choosing between HighRadius and Esker depends on your business priorities. Consider factors like automation capabilities, integration ease, and how each platform addresses key AR functions such as payment processing, collections, and reporting. Evaluating all these elements against your workflows and goals will help you identify the solution that delivers the most value for your business.

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Credit

Onboard customers seamlessly and manage credit limits, predict risks, and handle blocked orders to reduce bad debt.

Collection

Reduce past-due with AI-prioritized worklists and automate collection emails to manage long-tail customers.

Cash Application

Apply cash with 90% more accuracy by automating remittance aggregation and AI-guided exception management.

Deductions

Automate document aggregation from 250+ portals and emails and prioritize invalid claims efficiently to resolve disputes faster.

EIPP

Enable electronic invoicing, customer self-service portals, and secure online payments to improve billing and enhance cash flow.

When to Choose HighRadius

HighRadius is an ideal choice for businesses aiming to bring advanced automation and AI driven insights to their account receivable(AR) processes. Its unified AR platform is specifically designed to handle complex functions – from credit management and collection to cash application and deduction management. If you are a large enterprise or a mid market company managing high transaction volumes, handling multiple subsidiaries or dealing with a diverse customer base then HighRadius can help bring everything under one roof with its unified platform.

Consider HighRadius if:

• You Need a Unified AR platform: A fully integrated, in-house built solution that covers your entire AR lifecycle.
• You Value Proven, Mature Solutions: Time-tested expertise with 15+ years and 1000+ global clients.
• You Need Extensive Integration Capabilities: Compatibility with 50+ ERPs and 100+ banks for streamlined connectivity.
• You Need High AI Capabilities: Cutting-edge AI to optimize workflows, prioritize tasks, and reduce DSO in your AR process.

When to Choose Esker

Esker is an ideal solution for businesses that are seeking a streamlined, straightforward solution to automate their accounts receivable(AR) processes. It is mainly suited for small to mid-sized businesses or those businesses who are just starting to automate their AR workflows. Esker helps improve cash flow management and reduces the manual efforts traditionally involved in invoicing and payment processes.

Consider Esker if:

• You Need Compliance-Focused Invoicing: Ensures global compliance in 60+ countries, supported by dedicated e-invoicing teams and regulatory updates.
• You Need Document Automation Beyond AR: Excels in automating document-heavy processes such as order management alongside AR.
• You Value Simplicity and Efficiency: Streamlines core AR workflows with minimal customization and IT reliance.

Ideal Solutions for Different Market Needs

1. Large, Enterprise-Level Businesses
   HighRadius is the natural choice for large enterprises with complex, high-volume AR operations spanning multiple geographies.It provides:

• Integrated Receivable Platform: Connects the gap across collections, credit, deductions, cash application, e-invoicing, and offers a unified platform to optimize the entire order-to-cash process.
• Global Reach: Integrates with 50+ ERPs, 100+ Banks, global TPMs, and multi currency support to provide precision and compliance that are critical in the global environment.
• AI Driven Innovation: Leverages cutting-edge AI to provide insights and enhance key AR processes.

For enterprise companies prioritizing efficiency, scalability, and return on investment, HighRadius stands out as the ideal solution, effectively addressing the complexities of high volume, multi-geography AR operations.

2. Mid-Size Businesses
   Esker shines as a solution for mid-sized businesses or those companies who are just beginning their AR automation journey. Esker provides:

• Simple Automation: Mostly simplifies core AR tasks like invoicing, payment and collections, making it a practical choice for companies with less complex requirements.
• Cost Effectiveness for Simpler Needs: It doesn’t need heavy IT investment and is mostly well suited for companies with simple AR processes.
• Customizable Dashboards: It provides tailored visibility into AR metrics, helping smaller teams stay on top of cash flow and collections.

For companies seeking to automate simpler AR tasks without need of any global scalability, Esker can be a solid starting point.

3. High-Growth Companies with Expanding Needs
   For businesses scaling up, HighRadius is an ideal solution to tackle their AR challenges. It provides:

• Scalable Solution: The solution grows with your business, accommodating increasing transactional volumes and operational complexities.
• Future Ready Capabilities: Its AI driven features such as predictive insights and automated decision making can help growth focused companies to stay ahead of the curve.
• Industry Expertise: With a proven experience of working with fortune 1000 companies, HighRadius can deliver solutions that can adapt to unique needs of high-growth companies.

HighRadius adapts seamlessly to the demands of growth-driven businesses, ensuring process optimization as operations scale.

4. Niche and Domestic Markets
   Esker becomes an excellent  fit for niche or domestic markets. Ekser provides:

• Streamlined AR Processes:The solution is perfect for businesses with localized operations and straightforward needs. 
• Regulatory Expertise: It has a dedicated e-invoicing team that ensures compliance with local regulations, a vital factor for European businesses.

This segmentation ensures businesses can choose the invoice-to-cash solution best aligned with their size, market focus, and operational needs.

5 Unique Things Only HighRadius Does

1. A Unified, AI-Powered AR Platform

HighRadius is a fully integrated platform that covers the entire order-to-cash cycle ——- Collection, Credit, Deductions, Cash Application, Invoicing and Payments. Built organically in-house, the solution ensures seamless workflows and real-time synergy, ensuring a smooth customer experience.

2. Generative AI for Effortless Email Automation

HighRadius brings in Advanced Generative AI to collections emails. It prioritizes incoming emails, drafts responses tailored to the context, and instantly attaches relevant documents.This feature goes beyond just saving time– It’s all about freeing collectors from repetitive tasks and enabling them to focus on high-value tasks.

3. In-App Dialer with Auto-Note Transcription

HighRadius In-App Dialer allows collectors to make calls with just one click. The solution not only simplifies the dialing process, but also automatically transcribes call notes and generates post call summaries. By automating these time-consuming tasks, the In-App Dialer frees collectors to focus on meaningful interactions and faster payments.

4. Industry-Leading Automation Accuracy

HighRadius delivers unmatched automation rates in cash applications. The solution achieves 90% hit rates without any human intervention, even for unstructured data like remittance emails and attachments. HighRadius’ AI engines ensure businesses spend less time fixing errors.

5.Deep Industry Experience with Enterprise-Scale Deployments

With over 1,000 global customers and 2,700+ finance transformation projects, HighRadius has proven itself as a trusted partner for complex, large-scale implementations. To also support business worldwide, it offers seamless integrations across a wide ecosystem, including compatibility with over 50 ERPs, 100+ global banks, 40+ credit agencies, and 15+ Trade Promotion Management (TPM) systems.

FAQs

1. What is the main difference between HighRadius and Esker?

HighRadius and Esker both aim to improve Accounts Receivable processes, but they cater to different business needs.

• HighRadius is Ideal for large enterprises and high-growth companies that need an unified, advanced AR platform to manage complex, high volume operations globally.
• Esker is well suited for small and medium sized businesses or for those just beginning their AR journey, offering tools for invoicing, collection, and payments.

2.Which solution is better for global operations?

HighRadius is a stronger choice for global businesses. Its ability to integrate smoothly with over 50+ EPRs, 100+ Banks, and global trade promotion management systems(TPMs) ensures seamless operations across geographies. It also provides multi-currency support and compliance tools needed for large-scale operations.

Esker also supports compliance in over 60 countries but is more focused on localized operations.

3. How does HighRadius use AI differently than Esker?

HighRadius utilizes AI-powered automation to optimize the entire order-to-cash process. Its standout features include advanced predictive insights for AR Management, generative AI for automated email responses, and unmatched rates in cash application(90%+ hit rates even for unstructured data).

Esker, while leveraging AI, focuses more on predictive risk analysis for collections and enhancing document automation, particularly in invoicing.

4.What sets HighRadius apart in terms of ROI and implementation?

HighRadius delivers the fastest ROI in under six months through its 5-step Speed to Value methodology. Its streamlined implementation, robust out-of-the-box functionalities, and global support ensure businesses achieve value quickly and effectively, making it stand out from competitors like Billtrust.

5. How can I decide which solution is best for my business?

The decision of choosing depends on your business size, complexity and goals. Choose HighRadius if you need a robust, scalable solution with advanced AI and integration capabilities for global operations.

Opt for Esker, if your focus is on straightforward automation for simpler AR processes or compliance in niche or domestic markets.