Autonomous finance platform HighRadius introduces GenAI to finance, simplifying invoice processing and supplier talks.

HighRadius has launched new GenAI tools to streamline the accounts payable (AP) process, automating invoice handling and improving communication with suppliers. These advancements tackle the slow and outdated methods traditionally used in AP processes, which have been a source of frustration for many businesses.

The Accounts Payable Automation solution features two key components: Supplier Connect and AP Invoice Automation. Supplier Connect allows for quick communication with suppliers, enabling fast responses to queries about payments and invoices, solving issues like quantity mismatches, and creating tasks for both AP teams and suppliers to resolve exceptions swiftly. On the other hand, AP Invoice Automation enhances the efficiency of invoice management by automating data capture from various sources, matching the data with general ledger accounts, verifying the details, spotting discrepancies, and organizing tasks for all involved parties.

These GenAI tools aim to strengthen supplier relationships and make invoice processing more efficient, cutting costs by doing away with time-consuming, manual work and ensuring suppliers get quick, comprehensive answers to their questions.

Furthermore, HighRadius recently acquired Cforia Software, a company specializing in automating the order-to-cash process, which broadens HighRadius’ reach and capabilities. Additionally, HighRadius unveiled LiveCube, a user-friendly, no-code platform that allows finance teams to create their applications, boosting their operations without needing IT help.