Merrill Lynch Announces Accounts Receivable Partnership with HighRadius

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Editor Coda
Aug 23, 2017

Bank of America Merrill Lynch has announced a new solution to support its Accounts Receivables processes – Intelligent Receivables. Powered by HighRadius, Intelligent Receivables uses artificial intelligence (AI) and other software to help companies vastly improve their straight-through reconciliation (STR) of incoming payments to enable them to post their receivables faster.

Intelligent Receivables is designed for large or complex companies that are seeking to reduce costs, decrease days-sales-outstanding (DSO), and improve cash forecasting and their end-customer experience. 

Rodney Gardner, Head of Global Receivables in Global Transaction Services at Bank of America Merrill Lynch, said “our solution brings together AI, machine learning and optical character recognition (OCR), setting a new bar in accounts receivable reconciliation and payment matching. We’re excited to be working with leading fintech provider HighRadius to add Intelligent Receivables to our suite of solutions."

Sashi Narahari, CEO and President of HighRadius Corporation, commented “Bank of America Merrill Lynch’s Intelligent Receivables solution, powered by HighRadius' cutting-edge machine-learning technology, will enable their corporate clients to accelerate the adoption of electronic payments from their end-customers. We are extremely excited to work with BofA Merrill on modernizing treasury management services and streamlining the receivables-to-cash cycle.” 

It’s certainly an exciting time for HighRadius. The past few months have seen them expand their Accounts Receivables offerings to existing and new clients, including the launch of Freda, their Credit-to-Cash Virtual Assistant.

For more information on HighRadius visit https://sharespace.digital/supplier/highradius 
 

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