NEW YORK and HOUSTON, February 4, 2020 – Genpact (NYSE: G), a global professional services firm focused on delivering digital transformation, and HighRadius, an enterprise SaaS (Software-as-a-service) fintech company, today announced a strategic partnership that will provide improvements to enterprise accounts receivable and bring together digital automation solutions powered by advanced machine learning and artificial intelligence. "Many enterprises today have been unable to streamline their receivable processes, negatively impacting business operations and profitability," said Katie Stein, Genpact's chief strategy officer. "Genpact and HighRadius will solve this challenge by delivering a transformative digital automation solution that enables businesses to maximize their working capital, while enhancing the customer and user experiences. We see a great opportunity to leverage the potent combination of domain know-how, proven technology, and digital sophistication this partnership will bring." Genpact and HighRadius, both leaders within their respective areas, will work together to innovate within the order-to-cash cycle – a critical business process that has a direct impact on improving key value outcomes for enterprises spanning customer experience, revenue optimization, margins and cash flow, and more.

HighRadius, a fintech enterprise Software-as-a-Service (SaaS) company specializing in automating the order-to-cash and treasury management processes, today announced the addition of Jon Keating as Vice President and General Manager, EMEA. In this role, Jon will be responsible for leading HighRadius' growth plans across all of Europe, Middle East, and African (EMEA) Markets. This press release features multimedia. Jon comes to HighRadius with over two decades of executive leadership experience managing sales, marketing and partner development in technology companies, delivering innovative enterprise solutions. Most recently, Jon was Chief Sales Officer for Taulia, a US FinTech providing Working Capital solutions where he was responsible for setting up and building the company's business in Europe and then leading Taulia's Global Sales, Marketing and Partner teams.

Many corporations still have manual steps in the way they process outstanding invoices. But Rodney Gardner of Bank of America Merrill Lynch -- and other bankers -- are starting to offer their corporate clients a way to automate the handling of incoming payments. The service is proving to be valuable both for the banks and the corporations. Gardner invites clients to give him a ledger of a month's worth of the money owed to them by their customers. He then runs the information through a system of cloud-based software that BofA calls Intelligent Receivables.

This story was delivered to BI Intelligence "Fintech Briefing" subscribers. To learn more and subscribe, please click here. Bank of America Merrill Lynch (BAML) has revealed that it is implementing enterprise software fintech HighRadius' artificial intelligence (AI) solution to speed up receivables reconciliation for the bank's large business clients. Large companies with numerous customers often receive payments without accompanying contextual information, like which customer or debtor it's come from, or precisely what the payment is for, which makes balancing a company's books, i.e. reconciling, a lengthy and resource-intensive task. HighRadius' solution uses AI, machine learning, and optical character recognition to identify a payer, match them to an uncontextualized payment, and match that to an open receivable.