Same Day ACH is a significant innovation and understanding the best practices on Same Day ACH will help credit and A/R leaders to take their organizational performance to the next level.
Houston, Texas (PRWEB) April 11, 2017
HighRadius, the leader in credit and accounts receivable solutions, today announced that it will be exhibiting at NACHA PAYMENTS 2017 in Austin, Texas April 23 - 26, Booth 1011. Community Coffee, a HighRadius customer, will be presenting a case study as part of the education sessions. Attendees will also have an opportunity to take part in the Integrated Receivables Lotto to win prizes.
The NACHA Payments conference is a proven, well-respected and powerful event that provides attendees the opportunity to witness the latest innovations in technology and industry trends. PAYMENTS 2017 will unite thousands of payments system stakeholders from the business end-users and financial technology services organizations to debate and explore the most pressing issues and opportunities currently available. The show engages the practitioners and thought-leaders that are setting the agenda for the future of the credit and A/R industry to ensure the continued strength and integrity of the ACH Network and the U.S. payments ecosystem.
PAYMENTS 2017 offers outstanding education with more than 130 sessions and workshops featuring payments and innovation experts. On Tuesday, April 25th at the 11:20 AM session in Room 16A, conference participants will hear HighRadius client Community Coffee deliver a case study on “Helping Corporate Clients Benefit from All Things Same Day.” Sandra C. LeBlanc, Receivables Manager, Community Coffee, and Vikram Gollakota, Solutions Director, HighRadius Corporation will reveal the inside view on why corporate clients need same day payment processing, what they should expect from banks for processing e-payments, plus which technology options are available to deliver same day payment processing.
Community Coffee is the largest family-owned coffee brand in the US with a physical presence in 22 states. Sandra will speak about how the company struggled with processing and applying electronic payments that amounted to almost half of the company’s payments by dollar value. She’ll also talk about ACH processing for large customers - which took almost a full day per payment - and delays and inaccuracies in applying cash caused issues downstream in deductions and collections. Vikram will then cover the solutions that Community Coffee put in place to solve the challenges they faced and achieve greater than 85% straight-through processing.
HighRadius will be participating in the interactive expo show floor featuring the PAYMENTS Innovation Hub, a totally unique knowledge sharing platform. In Booth 1011, attendees are able to stop by and participate in HighRadius product demonstrations on the Integrated Receivables platform and learn more in-depth about the advanced technology. Built on proprietary Artificial Intelligence-based data collection, the technology platform parses remittance documents in any format, eliminating manual capture of remittance data and deduction backup.
“With the advent of Same Day ACH, it is more important than ever that companies processing electronic payments have the ability to transform Same Day ACH to instant cash availability and expedite accurate decision making for credit and collections. Employing ACH and Same Day ACH in conjunction with HighRadius advanced technology based on robotic process automation, organizations are able to eliminate payment-posting bottlenecks with achieve zero-touch remittance capture and reconciliation for same day processing,” says Jay Tchakarov, VP of Product Management for HighRadius.
Adds Sashi Narahari, CEO of HighRadius “Same Day ACH is a significant innovation and understanding the best practices on Same Day ACH will help credit and A/R leaders to take their organizational performance to the next level. The new payment method is the logical next step to drive faster, lower cost payments. But there are a number of supporting processes that need to be optimized to realize the benefits of Same Day ACH. Because of our experience with more than 500 credit and A/R transformations, HighRadius has been identified by NACHA as the preferred partner for companies looking to enhance their cash application processes. HighRadius is delighted to offer our experience to help educate finance leaders on achieving the optimized benefits of Same Day ACH for credit and A/R departments and to share some of the best practices we have seen from our work with leading companies from Fortune 500.”
As NACHA’s Preferred Partner for cash application automation, HighRadius is uniquely positioned to offer corporations and banks an integrated solution for credit-to-cash operations. The backbone of the integrated receivables platform are the modules for Credit, Collections, Deductions, Cash Application, Electronic Invoice Presentment and Payments. With the inclusion of the sixth module, RadiusOne network, customers become digitally unified into the Integrated Receivables platform, closing the loop from the supplier A/R process to the buyer AP process.
The HighRadius Integrated Receivables platform is a stand-out as it enables credit and A/R operations to execute every business process real-time, from a single platform, allowing organizations to resolve the piecemeal attempts at receivables management on the market today. The HighRadius Integrated Receivables platform solution offers easy integration with any ERP system to speed up deployment and reduce the need for IT resources. This allows financial institutions to improve the value of their wholesale lockbox service and enables corporate clients to increase operational efficiency.
To promote awareness and to share some fun, the Integrated Receivables Lotto is an opportunity for participants to match numbers to win prizes. The game features tickets with assigned numbers – the more numbers on the ticket that match the winning numbers in the correct slots, the better the reward. Attendees should look for a ticket in their email or stop by the HighRadius Booth 1011 for a chance to play. HighRadius will also be hosting a dinner at a local restaurant to promote networking and relationship building. Interested conference attendees may drop by the booth to learn more and sign up to join in the festivities.
About NACHA – The Electronic Payments Association
Since 1974, NACHA – The Electronic Payments Association has served as trustee of the ACH Network, managing the development, administration and rules for the payment network that universally connects all financial institutions in the U.S. The Network moves money and information directly from one bank account to another. Through its collaborative, self-governing model, education, and inclusive engagement of ACH Network participants, NACHA facilitates the expansion and diversification of electronic payments, supporting Direct Deposit and Direct Payment via ACH transactions, including ACH credit and debit payments; recurring and one-time payments; government, consumer and business transactions; international payments; and payments plus payment-related information. Through NACHA’s expertise and leadership, the ACH Network is now one of the largest, safest, and most reliable systems in the world, creating value and enabling innovation for all participants. Visit nacha.org for more information.
HighRadius provides Financial Supply Chain Management software solutions to optimize receivables and payments functions such as credit, collections, cash application, deductions and eBilling. Our Integrated Receivables solution suite is delivered as software-as-a-service to automate the credit-to-cash cycle. Our certified Accelerators for SAP S/4HANA Finance Receivables Management enables large enterprises to achieve business transformation initiatives and leverage their SAP investments. HighRadius solutions have a proven track record of reducing days sales outstanding (DSO), bad debt and increasing operation efficiency enabling companies to achieve an ROI in just a few months. For more information please visit http://www.highradius.com.
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