Technology is Disrupting the B2B e-payments Market & Visionary Banks are Already Ahead of the Curve – Are You One of Them?

Key Takeaways

In this 30-min webinar, join Mike Dignen and Kiran Rana as they reveal how banks could:

Identify challenges corporate clients are facing in managing receivables
Use the latest technology without disrupting the existing IT landscape
Leverage Fintech technology innovations and market expertise in data capture services

Speakers

Mike Dignen, VP - Banking Solutions, HighRadius
Kiran Bikash Rana, Director - Solution Engineering, HighRadius

About The Webinar

Based on a 2016 AFP survey, the future of check payments does not look very promising. The survey indicated that electronic payments are now 61% of all B2B remittances from major customers and will soon be the dominant mode of payments posing a significant shift in traditional check processing lockbox services.

With checks declining by more than 16% over the last 5 years, the data capture opportunity for electronic payments will increase; however, this revenue is currently going to the Fintech. Fintech is offering end-to-end remittance processing for electronic payments plus automation solutions for the entire credit-to-cash cycle directly to your corporate customers.

To compete, banks need to look beyond traditional lockbox processing and offer advanced remittance management services for electronic payments. In doing so, banks can generate new revenue sources and reduce processing costs.

There’s no time like the present

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HighRadius eipp software provides tools that automate and speed up invoice communication and facilitate a faster collection of payments, enabling a closer and more convenient relationship with customers. It automates the invoice transmission and payment collection process providing a configurable solution that supports multiple invoice formats and different modes of transmission (fax, email, portal, etc.) depending on the targeted customer, its integration with ERP systems and a rich search capability enables efficient storage and retrieval of past invoices, backup attachments to minimize disputes and short pays. Apart from that it also has some key features that you would not want to miss out: level-III interchange and surcharge; self-service customer portal; invoicing across email, customer portals, post, and fax; advanced deduction management; and lightning e-payments. The result is faster invoicing and payment collection, better customer service, and improved profitability and cash flow.