With shared services looking to innovative technologies as a means to improve efficiency and reduce errors, it’s always exciting to hear about new technology entering the market with the promise to make our lives easier.
HighRadius Corporation has launched Freda™, a virtual assistant for credit-to-cash. Similar to other virtual assistants, Freda can process human input and instantly looks up information or assists with daily tasks, answering both simple and highly complex questions. Freda’s aim is to assist credit and receivables analysts, managers and leaders with day-to-day data lookup, customer research, analytics and decision-making.
Sashi Narahari, CEO and President at HighRadius, said “the focus of technology and innovation at HighRadius has always been to empower credit and receivables teams in everyday work to achieve better outcomes. A few years back when we introduced our Artificial Intelligence-enabled Cash Application Cloud, the objective was not just to deliver all-time high payment reconciliation automation levels, but also to eliminate the manual effort involved in ‘rope-and-zone’ processes required for traditional OCR-based solutions. Today, our Freda™ Virtual Assistant for Credit-to-Cash is potentially set to revolutionize credit and receivables operations by giving users access to all available information and data at their fingertips. This would mean more productive dunning calls, better credit decision-making, faster dispute research and resolution, and easier monitoring of team productivity and performance.”
When asked if Freda would be able to answer all questions related to credit and receivable, Sashi commented, “Freda uses Artificial Intelligence to continuously learn based on interactions with users. With Machine Learning and Natural Language Processing, Freda is readily able to answer more than 7,000 different use-cases in credit and A/R. With continued exposure, Freda will only get better with time.”
Freda is available as a text-based virtual assistant with the HighRadius™ Integrated Receivables platform and is there to support processes and decision-making across credit, collections, deductions, cash application, billing and payments.
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