Question: I need a system that can help me optimize collections and reduce bad debt, while ensuring compliance with regulatory requirements.

If you're looking for a system to optimize collections and reduce bad debt while ensuring compliance with regulatory requirements, HighRadius is a robust autonomous finance platform designed to support the Office of the CFO. It leverages AI to automate various financial operations such as order-to-cash and accounts payable processes, which can help improve working capital, fast-track financial closes, and enhance productivity.

Another excellent option is Billtrust, an AI-powered accounts receivable platform that simplifies and unifies the entire order-to-cash process. Billtrust automates credit approval, invoicing, cash application, and collections, integrating with multiple ERPs and systems to provide a seamless user experience. It has helped over 2,400 companies worldwide reduce manual work, control costs, and accelerate cash flow.

FinFloh offers a comprehensive accounts receivable automation software that helps businesses accelerate receivable collection, automate cash application, and make data-driven credit decisions. With features like ML-based OCR for cash application and AI-driven credit scoring, FinFloh connects with ERP/accounting systems and CRM tools, ensuring data security through compliance with SOC 2, GDPR, and ISO standards.

For a platform that focuses on improving collaboration between AR, sales, and customer success teams, Growfin is a great choice. It features AI-based account prioritization, precision dunning, and real-time tracking and analytics. Growfin aims to cut manual work by 60% and days sales outstanding by 33%, making it a powerful tool for optimizing accounts receivable processes and accelerating cash flow.