It is more than necessary for today’s C-suite to align better on different budgeting needs and resource allocation for multiple initiatives in order to drive business growth; Urvish Vashi, Chief Operating Officer, HighRadius discusses more:

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Welcome to this MarTech Series chat Urvish, tell us more about HighRadius and what your new “Built for NetSuite” status gives users in terms of additional value.

We designed RadiusOne for mid-sized businesses to put their order-to-cash on auto-pilot with simple solutions, out-of-the-box connectivity to the most popular ERPs like NetSuite and rapid implementations measured in weeks and not months.

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We’d love to hear more on how the platform has evolved and about a few upcoming innovations? 

In the path to transform AR with digital transformation, the solution leverages an AI model to take learnings from over $3T of annual receivables across our customer base.  This allows us to identify patterns that let us prioritize collector worklist to focus on the most at-risk clients or identify fraudulent activities such as identifying invalid deductions and disputes.

How have you been seeing innovative upcoming startups and growing tech companies use tools to drive their operations and cash management more effectively?

Technology usage and deployment strategies are evolving with the popularity of standard cloud-native ERPs like NetSuite. In line with Gartner’s vision of Postmodern ERP, many organizations are looking to automate and link core business processes with best-in-class solutions through open integration among multiple best-in-class tools.  By extending the functionality of core ERPs, we have seen numerous clients improve key operating metrics like DSO and Net Recovery.

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A seamless internal end-to-end cash management process is critical for business leaders to run their operations, a few alignment practices between the office of the CFO and other C-level leaders like the CMO/CSO?

It doesn’t make sense for sales to do the work of closing an order that is going to get blocked by the credit department due to insufficient credit approval or collateral.  Collaboration between finance and the organization’s sales & marketing engine has become mission-critical, given the challenges that the past year has posed us.  

From building the company’s sales forecast (predicting how much revenue the organization would end up generating) to aligning on budget and resource allocation across various initiatives, the CFO-CSO-CMO trio needs to tune their strings to orchestrate the company’s growth.

How are you seeing AI-based technologies today overhaul the typical operations and management process for core teams and processes?

We are moving towards an era of true humans plus machines collaboration.  Each brings different strengths that can work in tandem.  

AI-based tools have shown immense promise at disrupting various processes across the board. From marketing platforms, sales enablement tools, or helping finance departments optimize their working capital, AI-based platforms have started to become integral components of the business ecosystem.

Some last thoughts and takeaways for business leaders?

Have skin in the game. Deploying software often includes transformation of the back-office (such as sales & order management, inventory, collections, reconciliation) and that’s why business leaders must evaluate the right vendor, that would not just implement solutions, but become your strategic partner to guarantee business results.

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