Our experience with HighRadius has been nothing short of transformative for our cash application process across multiple businesses. The tool's AI-driven capabilities have streamlined our payment posting, reducing manual intervention and identifing errors. This has allowed us to accelerate cash flow and allocate resources to more strategic tasks.
HighRadius provides us data that we can use to identify additional areas for improvement, offering insights that benefit both our business and our customers.
In summary, HighRadius has significantly enhanced our cash posting and collections processes, delivering benefits such as increased productivity, reduced operational costs, and improved customer satisfaction. The customer portal is a feature that many of our customers were asking for and they have adapted to it quickly. Review collected by and hosted on G2.com.
I have a high regard for this tool and am confident that the companies utilizing it will continue to experience improvements. We deployed three modules—CAA, CLS, and EIPP—simultaneously across three businesses, which potentially led to configuration gaps impacting downstream processes. It would be great if the OCR capabilities could be enhanced to "learn" basedon the corrections the team makes (in picking up invoice number on payments), as to avoide the same OCR issues with the next payment. Review collected by and hosted on G2.com.
188 out of 189 Total Reviews for HighRadius Accounts Receivables
Overall Review Sentiment for HighRadius Accounts Receivables
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After implemenntnig the Cash Application module, our team saw a huge improvement in no touch auto cash receipts, with a day 1 achivement of >50% hit rates (compared to 0% historically).
In addition, the visibility and reporting we have around the whole process now (missing customer info, missing MICR mappings, poor ORC image), gives us the power to drive those hit rates much higher quickly.
Likewise, our Collectors are now actively leveraging the Collections module to auto-correspond to several tiers of customers . We are able to reach ~5K accounts in a given run with no manual steps needed. This is driving significant payment turnaround in the EIPP Portal and in just 3 months since go-live we've already received $5M via this method.
Our Program Director was (and still is) a fantastic business partner along the way, helping us stay on track and resolve issues quickly. Review collected by and hosted on G2.com.
As a result of everything being interconnected, getting configuration right and understanding up and downstream implications can be tricky to manage. Security roles can also be challenging. It is critical to spend the time testing and training here to avoid issues.
Turnaround time of resolving case post go-live needs close management. Review collected by and hosted on G2.com.
The system was put in to give us an efficient way to relay invoices to customers and allow customers to efficiently pay the invoices. It was tightly integrated with Netsuite and our bank (JP Morgan) and processor (WorldPay). It had all the features we required and many other features that were nice to have. It was implemented in rather short order and High Radius implementation team was competent and worked very dilligently to keep us on schedule and implement a quality solution. As with any significant system/project there were issues along the way that had to be rectified and addressed but High Radius did the right thing and acted as a partner in getting these issues resolved and corrected in the right way so we had a reliable and efficient system. The system has been relatively stable and the company does a very good job from a customer success perspective to ensure usage of the product is actually of benefit and getting feedback on what they can do better.
Specific features we leveraged:
- Automated new customer registration and communication for login access
- Syncing all invoices generated in Netsuite and ensuring they were exposed and notified to customers and accessible via the portal.
- Accepting customer payments via ACH or CC.
- Ability to assess a standard fee for CC payments to offset the processing cost
- Ability for customers to setup autopay to ensure automated and timely payments
- Customer contact updates syncing back to our Netsuite system
- Notifications about key operational conditions (new invoices, past due invoices, failed payments, etc.) Review collected by and hosted on G2.com.
Changing configurations or settings that affect how the system operates requires help from High Radius consulting team and something that may incur extra costs. For this reason it's important to understand what you want in the implementation up front and do a good job of agreeing on the scope and features to implemented so that you can stay on schedule with the project implementation and control the costs of the implementation of it. Releases of new features in the underlying product don't just appear in many cases and seems to require some kind of opt-in and small implementation. I think this is likely done to encourage stability which I would argue is more important then having new features appear that may or may not help. Review collected by and hosted on G2.com.
I am able to track payments that hit but may not be applied by our cash app team yet, to ensure I am not holding any orders unneccessarily. I like that I can pull a check copy to review deduction information and can verify payment detail at any time. The bots are able to pull information from our customer portals too, which saves us some steps. I like the deduction module and that we can attach all of the backup in one place making it easy to show support for audits. We can also run reports by age, reason code, account rep and other categories which is nice. Review collected by and hosted on G2.com.
Our customers sometimes deduct before they pay the invoice, and the system gets confused by that and wants to set up the full value of the invoice as a deduction, when it should be left open until it is paid, and the deduction should be set up. We are working on getting that resolved. Review collected by and hosted on G2.com.
We are a holding company with several companies with high volume receivables. High Radius Cash Recon module has allowed us to reduce headcount by applying our cash to AR automatically and just managing exceptions. We added the EIPP and Collections module in the last couple years and that has only made us more efficient and helped with cash collection. Review collected by and hosted on G2.com.
The least helpful part is just when we have several exceptions to work through, but the High Radius team has supported us through that. Review collected by and hosted on G2.com.
What I like best about HighRadius is the automation in capturing the remittances and tagging the customer accordingly. Then integration with the ERP system we use to book the end result. Review collected by and hosted on G2.com.
What I like lease about HighRadius us that it currently does not capture journal entries from the ERP system as sometimes we receive payment for invoices we have marked as paid due to write offs. So then HighRadius records the payment as unapplied in the ERP system and then we have to manually book it later. Review collected by and hosted on G2.com.
HighRadius has played a crucial role in our department by pulling needed support documents and having it automated, saving a lot of minutes to hours for some analyst. This was originally catered for chargebacks, but we have found other uses for it, such as issuing credits that are much faster via HighRadius than our other system. Review collected by and hosted on G2.com.
What I dislike about HighRadius is the time delay to see the upload in the portal. For example, I can obtain the supporting document today, but HighRadius takes two days for it to show up. Also, reason codes need to be changed in HighRadius for it to flow into our system the next day, it is not updated in real time, which affects current work and may add a day's delay. One last thought, if other customers are using HighRadius and have the same customers, why can't HRC pivot and correct the path when support cannot be pulled. Wouldn't HRC have notification of changes via tickets and be proactive to change the path for all of their customers? Review collected by and hosted on G2.com.
Notable reduction in overdue balances. All debts chased automatically, meaning collectors can focus on larger/complex items.
User friendly platform with many additional features above competitors (AI, collection strategies defined by us, customer groups).
Excellent implementation team with great support. Review collected by and hosted on G2.com.
At times the support desk do not seem to understand our use of HRC and we need to revert back to the implementation team. Review collected by and hosted on G2.com.
The complete transmission of all payments and deposits from the banks (in seven countries) to PeopleSoft.
Ease of use and the availability of online analytical tools.
Technical support is very knowledgeable, helpful and quick to respond to questions. Review collected by and hosted on G2.com.
Matching rules have to be developed and applied on a customer by customer basis. There is no machine learning. Automatic matching of payments and receivables is less than 50% in North America, at the line level. Review collected by and hosted on G2.com.
I really like that you can import your payments from one into another and it works fabulous most of the time. It's super easy to use and they have lot and lots of help if you ever need the help. Also, in the beginning, they really help make sure you're ready to launch. Review collected by and hosted on G2.com.
Unfortunately, I believe that our company doesn't profit to much from using this program because our payments have a lot of issues sometimes. If there's anything that has issues, it's harder to import, I have to do it in two different batches and it's really annoying. Review collected by and hosted on G2.com.
We have had a fantastic experience with the continued support post go live. The support has enabled us to further drive adoption and efficiency. Maximizing our value leveraging the various HighRadius modules purchased by our organization. Review collected by and hosted on G2.com.
Occasionally we notice changes in the system with user access that we are not informed of. We are also informed that we have access to make certain changes in the system that in fact we do not. Review collected by and hosted on G2.com.
