HighRadius surpassing critical milestones with global expansion1 year ago Bhavitaavya Dharanikota
Work is not a fairytale, it’s real life! Led by Sashi Narahari, Founder and CEO, and Bhanu Bobba, Managing Director, HighRadius India, a Hyderabad-based and US-headquartered venture operates in the Fintech enterprise space. Sashi, an IIT alumnus, and an enterprise technology veteran started HighRadius in 2006, out in the receivables management space, with the aim of helping companies get their payments processed faster. It aims to reduce the time taken to process the order-to-cash through the automation of receivables and payments across different platforms. Powered by the Rivana Artificial Intelligence Engine and Freeda Digital Assistant for order-to-cash teams, HighRadius enables organizations to leverage machine learning that enables to predict future outcomes and automate routine labour-intensive tasks. Their solutions have proven to optimize cash flow, reduce bad debts and increase the operational efficiency so companies may achieve stronger ROI in just a few months. Efficiency and productivity being the most important aspects of HighRadius, and regardless of what systems are in use, their products have automated manually-intensive tasks, streamline communication and have allowed standardisation of processes to drive out the best practices into the organisations. They envision to not only empower their customers to get paid faster and improve their key metrics like DSO but also improve accuracy in the accounts receivable.
HighRadius currently works with hundreds of Global companies, including brands like Adidas, Starbucks, Procter & Gamble, Johnson & Johnson and Warner Bros. Their integrated platform optimizes cash flow through automation of receivables and payment procedures across 6 categories namely credit, collections, cash application, deductions, electronic billing and payment processing. To make their processes more automated, they recently launched its proprietary platform and has initially incorporated artificial intelligence and machine learning to their cash application solution. After the incorporation, the company saw a drastic increase in its automation and decided to incorporate and leverage AI and machine learning for the other 5 categories as well.
Currently being a cloud-based product company, HighRadius applies artificial intelligence and machine learning to all aspects of accounts receivable operations. Their complementary product, RadiusOne B2B payment network allows the suppliers to digitally connect to their target buyers, enabling them to finish the cycle from a supplier receivable process to a buyer payable process. HighRadius currently employees over 500 people across the US, India, and Europe with the US being their largest market with about 90% of their business concentrated there and a small percentage in Europe. Adoption of integrated receivables technology is expected to match that of Accounts Payable automation by 2020. The opportunity is further supported by the size of the B2B payments market, which is five times larger than the B2C market, yet under-served today.