HOUSTON – (COMMERCIAL THREAD) –High radius, a Software-as-a-Service (SaaS) fintech company specializing in the automation of order and cash management processes, today announced an expanded strategic relationship with Commerce Bank that advances the offering of digital transformation from the financial institution to its customers.
Business clients are looking for banks to help them modernize their accounts receivable and treasury operations. As a leader in this industry, HighRadius offers products that help Commerce Bank ensure that each client’s needs are addressed effectively.
The companies started working together two years ago and expanded their partnership in 2019 with electronic bill presentation and payment (EIPP) and virtual card processing (VCP) tools. The expanded agreement includes HighRadius’ full range of integrated receivables and cash management products available to Commerce Bank customers.
“Our AI-powered suite of products will streamline Receivables processes to be more efficient and effective for Commerce Bank customers,” said Sayid Shabeer, Product Manager, HighRadius. “In this digitally driven economy, AI is an essential part of their digital transformation. ”
“The world is changing faster than ever and our opportunity is to move alongside it. To that end, we bring together best-in-class products with exceptional teams dedicated to understanding and embracing the unique challenges of our customers, ”said Todd Adler, Senior Vice President of Commerce Bank, Director of Services at cash management. “We are delighted to support our clients on a digital transformation journey through our relationship with HighRadius. ”
About HighRadius Corporation
HighRadius is a Fintech Software-as-a-Service (SaaS) company that leverages autonomous systems based on artificial intelligence to help businesses automate accounts receivable and treasury processes. The HighRadius® integrated debt platform reduce cycle times in your order-to-cash process by automating receivables and payments processes through credit, electronic invoicing and payment processing, cash application, deductions and recoveries. HighRadius® cash management applications help teams achieve contactless cash management, accurate cash forecasting, and transparent bank reconciliation. Powered by the Rivana™ Artificial intelligence engine and Freeda™ Digital Assistant for checkout teams, HighRadius enables teams to leverage machine learning to predict future results and automate labor-intensive routine tasks. The radiusA™ The B2B network enables suppliers to connect digitally with buyers, closing the loop from the processes of receiving suppliers to the processes of paying buyers. HighRadius solutions have a proven track record in optimizing cash flow, reducing days of unpaid sales (DSO) and bad debts, and increasing operational efficiency so businesses can achieve a return on investment. raised in just a few months. For more information, please visit www.highradius.com.
About Commerce Bancshares, Inc.
With $ 26.1 billion in assets, Commerce Bancshares, Inc. (NASDAQ: CBSH) is a registered bank holding company providing a full range of banking services, including payment solutions, investment management and brokerage in securities. Commerce Bank, a subsidiary of Commerce Bancshares, Inc., draws on over 150 years of proven strength and experience to help individuals and businesses solve their financial problems. In addition to offering payment solutions across the United States, the Company currently operates full service banking facilities in nine markets including St. Louis, Kansas City, Springfield, Central Missouri, Central Illinois, Wichita, Tulsa, Oklahoma City and Denver. Commerce Bank also has commercial offices in Dallas, Houston, Cincinnati, Nashville, Des Moines, Indianapolis and Grand Rapids. Commerce provides high quality service and sophisticated financial solutions in regional branches, trade offices, ATMs, online, mobile and through a 24/7 customer service line. Learn more about www.commercebank.com.