Collection Blue belt

Hi team good evening my name is Aakash Chakraborty and I’m part of the mid market Babba
ABM team today i’ll be giving you a walkthrough the solution architecture for collections
followed by the demo
So
The solution architecture for Highradius Collections consists of three components:

On the left, your company and your ERP.

On the right, your customers.

In the center, HighRadius Autonomous Receivables Collections which ties the two together

HighRadius Collections works directly with your ERP. On a daily basis, we pull your open A/R
from your ERP: this has important information such as open invoices and the amount that
needs to be collected.

HighRadius Collections segregates your customers into logical buckets based on predefined
strategies. This will enable you to handle each customer segment differently. For example,
there might be fast paying customers or slow paying customers, or large or small sized
customers. Each segment can have a different strategy that defines the approach and
suggested actions for the customers.

Planning the follow-up activities takes about 20% of a collection agent’s time today. With
HighRadius Collections, customers are presented as a worklist to the collector in a prioritized
order, highlighting the actions that need to be taken. When a collector logs into the system,
they work through this list in priority order (e.g. which activity needs to be done, with whom
to follow-up).

So
Sending correspondence is another activity that typically takes a good portion of the agent’s
time.
With automated correspondence, most of an agent’s correspondence will be handled
automatically. This means that the agents will only spend about the first 15 mins of the day
sending emails, faxes or postal mail to the customers whom the system has not automatically
sent out correspondences. Typically, these are your largest customers where you would want
to have a personal connection.

After emails, the activity that typically takes the most time for the collector is customer follow
up calls. With Highradius Collections, the collector can place these calls from the system
directly and log notes inside the system.
Common responses from customers (like payment commitments) can be created by the
collector right away. For example, in the case a customer commits to pay against certain
invoices, the collector can select the invoices and flag them for the payment commitment.
These invoices will not be part of the worklist until the date of commitment.

The solution provides key performance reports which can be used by the management to
track various metrics related to the collections process. There are additional customer specific
reports indicating the metrics such as DSO trends, KPIs, money collected, Open amount.

Alright, so this is how the Autonomous Finance Platform looks like

As you can see, the HighRadius Autonomous Finance Platform is a single data-driven
intelligent software platform for the Office of the CFO. We currently serve three functions for
finance and accounting with the following Product Suites - Autonomous Receivables for Order
to Cash, Autonomous Treasury for Risk and Treasury Management and Autonomous
Accounting for Record to Report and Financial Close.

The Autonomous Receivables Product Suite has products for the end to end order to cash
business process including Credit Management, E-invoicing and Payments, Cash Application,
Deductions Management and Collections Management.

Now, let’s navigate to the Autonomous Receivables Product Suite to continue with our demo.

Okay, so now we are in Autonomous Receivables. As you can see this is an integrated platform
for invoice to cash with end to end products covering credit, eipp, cash app, deductions and
collections.

The first screen that you see is a global AR dashboard that gives you a 20,000 feet view of
your AR performance. For

Once I log into the system, my day is already organized for me. Using the analytics driven
prioritized worklist, I can view the total open amount in different aging buckets and the list of
tasks I need to perform today on the dashboard.

This information is also represented in a tabular format with the list of customers, information
on their aging buckets, priority, notes captured and the actions that need to be performed. I
can configure this view based on my personal preference.

Typically as a collector I would prefer sending all standard correspondence in the first half of
my day.
Let’s say I want to send all personalised email, I can select the same on the dashboard and
search, showing the customers that are low priority.

With all of my low priority customers listed, I can use the correspondence icon to select Email
as the mode.
Here, i can select the correspondence type as First Past Due Notice package. This will define
the email subject, body and content as well as the invoices that need to be auto attached

I also have the option to attach any additional documents thatI I want. I can combine the
attachments as a zip file or combine them into one .pdf document.
I can now go ahead and select Submit, which will send the email to all of my low priority
customers. I am now done sending all First Past Due reminders for the day.

The automated correspondence option allows low priority correspondences to be sent

This allows collection agents to spend the bulk of their time on higher value activities.
And this is where we can see the automated correspondence and manual correspondences
Now that all correspondences are sent, I have the rest of the day available to call the
customers based on the prioritized worklist. I’ll start with customers who have broken a
payment commitment. I can select the Call for Broken Commitment in the graphical search
to get the list of customers I need to follow up.

I can see Rite-Aid here as one of the customers I need to call, Let me go ahead and start
planning my call.

Before calling Rite-Aid, let me review the details of what’s happened in the account.
Once I open the account details, the top half of the screen shows a high level overview of the
account.
The bottom half has the information on all open invoices with the option to open these
invoices as PDF.

Now that I have enough information on the due date, invoice amount, days past due, etc.,
calling a customer contact is very easy with a click of a button.

I can pick any of the contacts in the company to call up to using the drop down.

While I am on the call with the customer, I can take my notes. Once I am done with the call,
the system will track the call, call duration and notes for future reference that can be found
in the call section here as well

The Autonomous edition of HighRadius Collections can automatically capture Call Notes and
log them with Freeda, our propietary AI enabled Digital Assistant.

So For each call, there are a few possible outcomes:

When the customer makes a promise to pay, the note can either at a Header level or invoice
level

Key information such as the date of commitment, due date, if available payment/check
number and notes can be added before submitting. So this is what the page will look like
where all the details can be added and submitted This removes the invoices that I have
selected from my worklist for follow-up.
And
This information is now available under each customer under the P2P tab for future
reference.

So similarly if i have to create a dispute it can be done from here and i can add I can now add
in the amount, pick a reason code from the dropdown, assign it to the respective
team/analyst and upload any document as support for the same.

So this action will now trigger a workflow for the dispute team. I will be able to track the
status of the disputes from the main disputes tab.

If a payment is initiated from the customer, I will be able to tag the invoice with the payment
information clicking on the edit button here as well

Apart from the call notes, I can select a specific invoice and capture notes against that invoice
as well.

I can also create tasks for myself or someone else in the team, which could be any follow-up
request, or additional information that I need to send back to the customer or a reminder for
myself.

In addition to this, the Autonomous edition of HighRadius Collections will also suggest
predicted payments dates for customers based on past customer payments behaviour.

So along with this we also offer analytics and dashboard so we have Reports which can help
track Collector KPIs, such as Collections Effectiveness Index (CEI), Days Sales outstanding
(DSO), Cash Forecasting, Aging analysis etc.

The analytics section contains 50+ reports across A/R which can be presented as dashboards.
Here is one such executive dashboard that would show management how we are trending on
our Days Sales Outstanding (DSO)
This is what the DSO report looks like, here’s the formula for the DSO calculation.
These reports can also be scheduled to be emailed to mid-management and senior-
management on an ad-hoc or a recurring basis.

Ok that is all we have to cover today for collections thank you