HighRadius Corporation, a leader in Autonomous Finance software, has expanded its innovative solutions with a B2B payments platform designed to cut payment processing costs significantly.
The company, renowned for its Office of the CFO software suite, caters to complex financial operations including Order-to-Cash, Treasury, and Record-to-Report. The new platform is aimed at enhancing global transaction efficiency across 100+ payment methods.
This strategic enhancement addresses the critical need for more efficient and cost-effective payment processing solutions in the B2B sector. HighRadius aims to reduce the operational costs associated with global transactions by integrating advanced technologies like the Payment Gateway, Surcharge Management, and Interchange Fee Optimizer into a single, cohesive platform.
HighRadius is at the forefront of Autonomous Finance, offering cloud-based solutions that automate financial processes for the CFO’s office. The company’s software supports a broad spectrum of global clients including major brands like 3M and Unilever, facilitating streamlined Order-to-Cash and Treasury operations, as well as comprehensive Record-to-Report cycles.
The newly launched B2B payments platform by HighRadius includes three main components: the Payment Gateway, which facilitates diverse payment methods globally; Surcharge Management, which helps companies legally transfer some processing fees to buyers; and the Interchange Fee Optimizer, which minimizes costs by enhancing data transmission to payment processors. Together, these innovations promise to optimize financial transactions and enhance customer satisfaction in digital payment processes.
The solution not only supports more than 150 currencies but is also compatible with various digital commerce platforms, including E-Commerce and Order Management systems. The Surcharge Management module adheres to regional legal standards, enabling businesses to apply surcharges where permissible and pass on certain costs to the consumer efficiently and transparently.
HighRadius Chief Product Officer Sayid Shabeer emphasized the impact of the new platform, saying, “Payments are a critical part of a customer’s digital experience, and 70% of organizations are not satisfied with the customer experience they offer. Our goal is to reduce credit card processing costs through PCI-compliant payment solutions across all digital channels. The Interchange Fee Optimizer will ensure customers offer this at the lowest possible cost.”
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