HighRadius to Transform Collectors’ Workday with Autonomous Receivables Collections Solution
Combines the power of humans + machines (Artificial Intelligence) to help collectors and A/R teams focus on higher-impact, strategic work
HighRadius, a fintech enterprise Software-as-a-Service (SaaS) company specializing in automating the order-to-cash process, announced the rollout of the Autonomous Receivables offering, a new way for human analysts to interact and work with machine learning-based, order-to-cash software.
Autonomous ReceivablesTM capabilities work on top of the Integrated Receivables platform to connect across silos in order to cash and the Rivana AI engine for core prediction capabilities. The FreedaTM Digital Assistant with touch- and voice-enabled interactivity bridges the gap between human analysts and the technology, to ensure that human analysts focus on the strategic work, while the ‘machine’ handles clerical tasks, such as taking call notes or identifying daily work lists.
With the first pilot deployment with Kloeckner Metals, Freeda and Autonomous Receivables will be generally available following the Radiance Conference on February 18th – 20th at Minute Maid Park in Houston.
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“Traditional enterprise software is clunky with information buried deep behind dozens of clicks,” said Sayid Shabeer, Chief Product Officer of HighRadius. “The current narrative around AI and automation often revolves around replacing humans with machines. HighRadius is changing the conversation by capturing what machines excel at and delivering that technology to best serve human needs — improving efficiencies, driving faster A/R conversion, and in the process, making happier employees.”
Artificial Intelligence to Streamline the Back Office
The HighRadius Collections Cloud leverages machine learning algorithms to predict invoice payment dates which enables collectors to build smarter collector worklists and proactive collection strategies. Freeda Digital Assistant provides an entirely new end-to-end user interface that harnesses AI to streamline clerical work — locating information, logging call notes, payment commitments, scheduling reminders and follow-ups — with an adaptive AI to allow easier access to information while freeing up time that can be spent on more strategic work.
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“AI and technology always sound too good to be true. But, once we made the first set of collections calls using the HighRadius software, we knew that we were on to something big. Automation aside, I think Autonomous Collections will allow collectors to really focus on customers who matter. As a manager, the auto-archiving of conversation history is not only great from an audit point-of-view, but also a game-changer for internal training and feedback,” said Scott Phillips, Head of Shared Services, North America at Kloeckner Metals. “We are excited to upgrade to the world’s first touch- and voice-enabled experience for collections and look forward to more use-cases for Autonomous Receivables across other order to cash functions.”
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