HighRadius, the premier Autonomous Finance software provider specializing in Order-to-Cash, Treasury, and Record-to-Report solutions, has officially announced its acquisition of Cforia Software, a prominent company known for its Billing and Collections automation software utilized by over 100 clients worldwide.
With a rich history spanning more than two decades, Cforia brings not only enhanced functionalities but also a diverse clientele base to HighRadius.
The acquisition underscores HighRadius’s strategic commitment to broadening its offerings and extending support to a wider range of businesses. In his statement, Urvish Vashi, the Chief Operating Officer of HighRadius, warmly welcomed Cforia’s clientele into the HighRadius family, emphasizing the company’s dedication to maintaining top-notch service levels for existing Cforia customers. The completion of the transaction occurred on February 2nd, 2024.
Key Points
- Acquisition Rationale: HighRadius’s acquisition of Cforia Software signifies a strategic move aimed at bolstering its position as a leading provider of Autonomous Finance solutions. By integrating Cforia’s Billing and Collections automation software, HighRadius expands its portfolio, offering clients a more comprehensive suite of financial management tools.
- Clientele Expansion: With over 100 customers globally, Cforia brings a significant client base to HighRadius. This diverse set of clients represents various industries and business sizes, enabling HighRadius to cater to a broader spectrum of organizations with distinct needs and requirements.
- Enhanced Capabilities: The acquisition of Cforia not only adds to HighRadius’s client base but also brings additional capabilities and expertise to the company. Leveraging Cforia’s over 20 years of experience in Billing and Collections automation, HighRadius can enhance its existing solutions and develop new features to meet evolving market demands.
- Customer Assurance: Urvish Vashi’s statement reassures existing Cforia customers of a seamless transition into the HighRadius ecosystem. By emphasizing the commitment to maintaining high service standards, HighRadius aims to instill confidence in clients regarding the continuity and reliability of their operations post-acquisition.
- Operational Impact: The closure of the transaction on February 2nd, 2024, marks the beginning of integration efforts between HighRadius and Cforia. This integration process involves aligning technological infrastructures, harmonizing operational procedures, and ensuring a smooth transition for both companies’ staff and clientele.
In summary, HighRadius’s acquisition of Cforia Software represents a strategic initiative to strengthen its market position, expand its client base, and enhance its product offerings in the realm of Autonomous Finance. With a focus on seamless integration and continued customer satisfaction, HighRadius is poised to leverage the synergies resulting from this acquisition to drive innovation and deliver exceptional value to its stakeholders.
About HighRadius Corporation
HighRadius provides cloud-based autonomous software solutions tailored for the CFO’s office, enabling over 800 prominent enterprises to streamline their order-to-cash, treasury, and record-to-report operations. Among its esteemed clientele are industry leaders like 3M, Unilever, Anheuser-Busch InBev, Sanofi, Engie GBS Solutions, Kellogg Company, Danone, and Hershey’s, among others. This autonomous software, characterized by its data-driven nature, dynamically adjusts its functionalities based on evolving transactional data, leveraging advanced digital transformation capabilities such as artificial intelligence, robotic process automation, natural language processing, and interconnected workspaces.
Prior to the emergence of autonomous software, finance professionals faced the dilemma of either adopting digital alternatives to traditional paper-based systems or investing resources in developing and maintaining custom RPA/AI tools internally. In contrast, HighRadius’ Autonomous platform combines the advantages of both approaches, yielding tangible business benefits including decreased Days Sales Outstanding (DSO), enhanced working capital efficiency, reduced bad debt, shortened month-end closing cycles, and increased overall productivity within a timeframe of fewer than six months.
About Cforia Software
Cforia Software, LLC operates as a prominent global provider of enterprise solutions, specializing in cutting-edge software for optimizing working capital and automating accounts receivable (A/R) processes. Their sophisticated order-to-cash platform simplifies B2B transactions, providing comprehensive tools for clients to enhance customer experiences and achieve superior business outcomes. Through their intelligent software solutions, Cforia enables clients to consistently achieve success in accounts receivable management. For further details, please refer to their information resources.
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