Blog: HighRadius Launches Artificial Intelligence-Based Cash Forecasting for Treasurers – Yahoo Finance
- AI-based solution boosts cash forecasting accuracy, makes manual cash forecasting using spreadsheets obsolete
- New application expands HighRadius’ treasury management solutions suite, which also includes Cash Management Cloud and Bank Reconciliation Cloud
HighRadius, a fintech enterprise Software-as-a-Service (SaaS) company, specializing in Artificial Intelligence (AI)-based autonomous systems for Accounts Receivables and Treasury processes, announced its latest offering – AI-Based Cash Forecasting Cloud. The new solution will enable treasurers to achieve accurate, real-time cash forecasting without having to manually collect and transpose data across spreadsheets and various systems.
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Built on RivanaTM, HighRadius’ proven Machine Learning Platform for finance departments, the solution will enable companies to accurately forecast cash flows with purpose-built AI algorithms at individual operational categories including accounts receivable (A/R), accounts payable (A/P), expense and payroll.
Sashi Narahari, Founder & CEO, HighRadius, explained, “Treasurers have been demanding a higher degree of cash forecasting accuracy to help them evolve beyond managing daily funding and low-yield investments, to making higher yield decisions. We have successfully solved A/R forecasting with AI by predicting payment dates at an invoice level and now we’re introducing AI-based, automated, forecasting models for high-variability cash flow categories including A/R and A/P to enable the digital transformation of the treasury function.”
HighRadius’ extensive research with treasury leaders across industries revealed that more than 98% of corporate cash forecasting is performed using spreadsheets with basic formulas. In addition to being manual and time consuming, most of these techniques do not incorporate any statistical modeling on large volumes of data to drive accurate forecasting. This is crippling corporate treasurers from making confident short-term and long-term debt and investment decisions. Trusted by Fortune 500 and Global 2000 companies, HighRadius has a track record of success deploying AI-driven software solutions used by various corporate finance professionals, teams and departments. The AI-based Cash Forecasting Cloud joins HighRadius’ treasury management applications which also include Cash Management Cloud and Bank Reconciliation Cloud.
HighRadius is a Fintech enterprise Software-as-a-Service (SaaS) company which leverages Artificial Intelligence-based Autonomous Systems to help companies automate Accounts Receivable and Treasury processes. The HighRadius® Integrated Receivables platform reduces cycle times in your order-to-cash process through automation of receivables and payments processes across credit, electronic billing and payment processing, cash application, deductions and collections. HighRadius® Treasury Management Applications help teams achieve touch-less cash management, accurate cash forecasting and seamless bank reconciliation. Powered by the RivanaTM – the Artificial Intelligence Engine Purpose-Built for Finance and the FreedaTM Digital Assistant, HighRadius enables teams to leverage machine learning to predict future outcomes and automate routine labor-intensive tasks. The radiusOneTM B2B Collaboration Network allows suppliers to digitally connect with buyers, closing the loop from supplier receivable processes to buyer payable processes. HighRadius solutions have a proven track record of increasing operational efficiency through automation, optimizing cash flow, reducing days sales outstanding (DSO) and bad debt, so that companies may achieve strong ROI in just a few months. To learn more, please visit www.highradius.com.