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Transforming Shared Service Workforce: Ignoring AI & Millennials Could be Fatal

What you will learn:
1.Key roadblocks in adopting AI + millennial culture in SSCs
2. How to balance the tech-disruption and millennial expectation
3. How to define SLAs and focus areas for the future workforce
4. How gamification could work out in credit & collections management

While you are struggling to adopt AI & automation in your O2C processes, did you notice that almost half of your shared services/global business services workforce is joined by a common thread: MILLENNIALS! Are you wondering how to pull off this mammoth task of digital transformation with a millennial workforce?
Recorded Mar 26 2020 55 mins
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Presented by
Chris Sanders, FCICM, International Credit Management Consultant(Kinetic Consulting) & Head of Accreditation, CICM
Presentation preview: Transforming Shared Service Workforce: Ignoring AI & Millennials Could be Fatal

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  • Tracking Plans Vs. Actual For Receivables Team Working Remotely Apr 27 2020 3:00 pm UTC 45 mins
    Elaine Nowak, Director of Product Management and Marketing at HighRadius
    In one of the subsequent discussions, we have a panel of experts talking about the cadence for performance review for receivables teams especially while they are working remotely. One of the easiest ways to keep a track on it- is to have analytics dashboards and reports providing insights into work done by your team over the said period (day, week etc.), so that you can compare it to the daily/weekly goals and targets that you have been setting up for them.

    E.g. If you are trying to check on how many calls are your collectors able to make in a week while working from home, and compare that to the calls that they were able to make in a week while in office- you can set up a simple performance review report for the remote working period in the HighRadius Analytics cloud, and compare that to another report showing this number for the time in office- thus getting clearer visibility into how the performance got impacted by the current situation.

    In this live demo- we will try to give you examples of such reports and dashboards from our cloud solution that we think would make most sense for you in the current situation.
  • The Three Step Cadence For Your A/R Performance Review During Remote Working Apr 24 2020 3:00 pm UTC 45 mins
    Elaine M. Nowak, Director of Product Management and Marketing at HighRadius
    Join this discussion to hear A/R team leaders talk about a few of the below-mentioned points, and more:

    1. Additional metrics to track individual and team performance in the current times
    2. Communicating new metrics and KPIs to the team- explaining the idea and relevance
    3. Tracking the numbers- What reports, daily vs. weekly access, analytics dashboards, etc.
    4. Follow-up and action on said reports- Knowing what’s working and changing what’s not

    As A/R teams started moving to remote-working, one of the top things on the mind of their managers and executives was to ensure that they are able to run in the same way as they did while in office. While that is a good expectation to have, how the team performance over this period would be evaluated, is definitely a question for which they as leaders need to be prepared and plan. In this discussion, we are trying to arrive at a three-step cadence- communication, tracking and reporting on team KPIs, and the best way to go about setting it up in the current remote working environment.
  • Expanding Collections Portfolio Outreach Across Big & Small Customers Apr 23 2020 3:00 pm UTC 45 mins
    Elaine Nowak, Director of Product Management and Marketing at HighRadius
    As collection efforts are most likely to go-up over the next few days, what is the other thing that A/R teams could do to maintain their DSO and working capital. To ensure maximum amount of money coming in, one of the alternatives is that collectors make more collections calls- reach out to a wider list of customers than they usually do (basically covering all big and small-scale accounts), and try to get them to pay.

    This however needs to be done in a very well organized way- especially in the current scenario where most collectors are working remotely. Worklist prioritization done by HighRadius Collections Cloud could help save 40% of the workday for your collector- giving them the time to actually reach out to more customers.

    In this demonstration our solution expert will dive deep into the feature, to show you how worklist prioritization happens, the different levers in the background that can be customized as per your business requirement- and the new age of digital collections with our autonomous edition.
  • Managing DSO Through Effective Collections Management Amidst COVID-19 Outbreak Apr 22 2020 3:00 pm UTC 45 mins
    Elaine Nowak, Director of Product Management and Marketing at HighRadius
    For A/R teams- keeping the DSO to a minimum, and the cash flowing is a top priority any day. However in light of the recent COVID-19 outbreak giving rise to what can best be termed as the demand shock- market sales for all companies might take a hit- and customer associated risks are higher than ever. From the order-to-cash perspective- what this means is severe impact to the topline (with lower sales), and therefore a higher than ever need for proactive (yet empathetic) collections activities.

    If you are also trying to wrap your head around how you can plan your way through this crisis, join this expert panel discussion where we touch up on the following discussion pointers, and a few more:

    1. Critical evaluation of the COVID-19 outbreak’s impact on different industries
    2. How do customers decide whom to pay in times of such crisis?
    3. Staying relevant to your customers: Why would they pay you?
    4. Collections Now 101 - The challenges, approaches and best practices to keep in mind
  • Stringent Credit Reviews For Risk Mitigation: The Need Of Current Times! Apr 16 2020 3:00 pm UTC 45 mins
    Elaine M. Nowak, Director of Product Management and Marketing at HighRadius
    Stringent credit reviews are the need of the hour- and in this session, we will give you a sneak -peek into how it can be made possible with the HighRadius Credit Cloud Solution. Our Solution expert would walk you through the review feature in details and talk about the following:

    1. Online credit applications and its multiple constituents
    2. Credit agency and bureau integration: How our system automatically captures data
    3. Setting up and following on bank and trade references
    4. Proactive credit alerts for new and existing accounts
    5. AI-powered recommendations for the suggested credit limit as a result of said reviews

    With the coronavirus outbreak likely to have a negative impact on the global economy as a whole, there is an additional pressure on credit teams to minimize risk exposure of their company as much as possible. While your existing customers making delayed payments would already create problems in your cash flow- the last thing you want to do is to onboard a new customer who’d further pressure on the same.
  • Coronavirus: A/R and Order-To-Cash Risks To Think Through Amidst The Outbreak Apr 15 2020 3:00 pm UTC 45 mins
    Elaine Nowak, Director of Product Management and Marketing at HighRadius
    Just on the surface, there are so many risk categories to be thinking about for order-to-cash teams right now. Credit risk- extending credit to a customer who might not be able to repay the money owed by them, customer-bankruptcy risk, collections risk, payments and frauds related risks,etc. Each one of the above is applicable in different capacities, and to varying degrees- and so what is important on the part of A/R leaders is proactive planning on how to go identifying risk areas and come up with strategies to counter them.

    In this discussion, we will be covering the following points, and many more:

    - Credit Vs. Sales- As sales pushes for customer onboarding more due to fewer opportunities, and credit teams push for minimizing risk exposure, what happens?

    - Customers are either unable to pay- or are not making a payment as you are not the most critical supplier to them- What do you do?

    - Cross- border payment challenges, as the impact of COVID-19 outbreak is different across geographies- how do you plan for the same, if at all?

    - Some of your customers, unfortunately, are not able to survive through the situation and announce bankruptcy- are you prepared for it?
  • Managing A/R During Crisis: 5 Ways AI + RPA Would Help in Credit & Collections Apr 15 2020 12:30 pm UTC 45 mins
    Laural Jefferies, FCICM, Credit Executive-Governance, Fashion Edge Ltd. | Tanya Arrowsmith, Marketing Manager, HighRadius
    Key Takeaways:
    1. 3 signs your O2C department is about to face a crunch in receivables
    2. Tips to embrace AI + RPA to deal with the upcoming economic slowdown
    3. Benefits of having A/R on cloud vs on-premise solutions

    With the recent unfolding of events that raised serious concerns on employee safety and business continuity, a lot of organizations have transitioned into a remote working mode. While remote working has its own challenges, are you realising that you are ignoring an almost inevitable economic slowdown? Stepping on the economic crunch without a precaution might have long-term implications on your business.
  • Order-to-Cash Lessons by Ferrero and Live Demo of Their Technology Apr 9 2020 4:00 pm UTC 75 mins
    Kay Rogers, Director, NA Financial Transactions, Ferrero | Elaine Nowak, Director, Product Marketing & Management, HighRadius
    Part 1 (11:00 - 11:20AM CT): Ferrero’s Acquisition of Nestle US Candy Business: An Order-to-Cash Perspective

    Part 2 (11:20 - 11:40AM CT): Ferrero's Guide to DSO Improvement using Integrated Receivables

    Part 3 (11:40 - 12:00PM CT): 20-min Sprint Through HighRadius Collections and Deductions Cloud Solution

    There is a difference between making business acquisitions and making businesses work post acquisitions. Missing customer data and misdirected flow of information leading to confusion within the end-users are some of the common roadblocks that all companies undergoing an acquisition identify with. The question is, how do you plan your strategy for overcoming these challenges? What technology should you leverage for a successful transition? Most importantly, what is the right time to start devising your plan of action?

    Key Takeaways:
    1. One A/R decision that made Ferrero’s biggest acquisition successful
    2. Achieving 85% hit rate in cash application: one of the many feats of A/R automation
    3. Ferrero’s execution strategy for post-acquisition order management, customer satisfaction, and financial reporting
    4. 4 ways for A/R teams to get CFO attention through technology and talent management
  • Management’s Guide For Remote Workforce Enablement In Order-To-Cash Apr 2 2020 3:00 pm UTC 45 mins
    Laurent Gueritaine, Sanofi|Jason Herrington, Employbridge | Karen Koenig, WESCO
    As coronavirus has forced the world into a new normal of social isolation, it is apparent that its rippling effects are being felt by businesses globally, in more ways than one. In this discussion, we will ask our credit industry professionals important questions to hear recommendations, best practices and lessons learned to date for coping during this unprecedented crisis.


    How to:
    1. Maintain the socio-cultural office environment in the remote-work setup
    2. Keep teams motivated and help them tackle the daily struggles of working from home
    3. Maintain connectivity and how the impact of technology and automation during this crucial time
    4. Set and manage expectations for minimal disruption to business and day-to-day operations

    As All A/R teams move towards working remotely amidst the coronavirus outbreak impacting major world economies, order-to-cash leaders need to administer efficient solutions with very little time. From managing their teams remotely to maintaining business continuity with virtual tools, every passing day brings a new challenge. While some organizations have established their new model of operation within this environment, others are still struggling with basic processes, both business-related or personnel-related, pivoting on the idea of how to be productive working remotely.
  • A Glimpse: Digital Order to Cash with AI-Powered Digital Assistant Freeda Apr 2 2020 9:30 am UTC 45 mins
    Tanya Arrowsmith, Marketing Manager, HighRadius | Gwyn Roberts, VP Sales, HighRadius
    What will be covered in the session:
    •The buzz around digital transformation
    •Wait, before you move ahead with a digital transformation venture, you need to avoid these 3 mistakes
    •What AI can do for your A/R departments?
    •101 with Freeda: the AI-powered digital assistant
  • Transforming Shared Service Workforce: Ignoring AI & Millennials Could be Fatal Recorded: Mar 26 2020 55 mins
    Chris Sanders, FCICM, International Credit Management Consultant(Kinetic Consulting) & Head of Accreditation, CICM
    What you will learn:
    1.Key roadblocks in adopting AI + millennial culture in SSCs
    2. How to balance the tech-disruption and millennial expectation
    3. How to define SLAs and focus areas for the future workforce
    4. How gamification could work out in credit & collections management

    While you are struggling to adopt AI & automation in your O2C processes, did you notice that almost half of your shared services/global business services workforce is joined by a common thread: MILLENNIALS! Are you wondering how to pull off this mammoth task of digital transformation with a millennial workforce?
  • 5 Steps to Realize the Benefits of Same Day ACH in Credit and A/R Processes Recorded: Dec 18 2019 64 mins
    Rob Unger, AAP, NACHA – The Electronic Payments Association| Elaine M. Nowak, Director Product Management & Marketing – HighR
    ACH electronic payments are the fastest growing payment type, with Same Day ACH also making a big impact since its introduction last September. But how do credit and accounts receivable departments realize the benefits of these faster electronic payment options critical to A/R metrics and processes such as days sales outstanding (DSO), collection effectiveness index, blocked orders, cash application and collections? Without the right approach, companies risk failing to handle key challenges that negate the advantages of Same Day ACH and ACH.

    This webinar will demonstrate how Same Day ACH and robotic process automation provide a high-octane boost across the credit-to-cash process that directly improves credit and risk management, cash application, disputes and collections.
  • Faster Payments : Fundamentals of B2B Payment Acceptance and Settlement Recorded: Nov 26 2019 58 mins
    Robert Unger, AAP – Senior Director – Corporate Relations and Product Management, NACHA | Ernie Martin, MD, Recievables Savvy
    Corporate teams across A/R, A/P, Treasury, and Banks too are excited about faster payments. However, many are still looking for answers to fundamental questions such as:

    1. How do faster payment methods differ from one another?
    2. What is the value proposition of a faster payment?
    3. How do new, faster options compare to traditional payments?
    4. What is the impact of faster payments on my receivables operations?

    Join Robert Unger, Sr. Director Product Management at NACHA, and Ernie Martin, Managing Director of Receivables Savvy, as they compare and contrast faster payment methods on dimensions including remittance, ubiquity and settlement/processing times.
  • Receivables and AI: A Day in The Life of A Collections Analyst in 2020 Recorded: Nov 20 2019 44 mins
    HighRadius
    Carolyn Etress, Director of A/R at EBSCO discusses how AI and virtual assistants could radically transform the collections process as we know it.
  • Automation in The Credit Profession - How To Be Ready? Recorded: Sep 26 2019 33 mins
    Elaine Nowak - Director of Product Management and Marketing
    As the digital revolution continues to filter into every area of our lives, it is inevitable that it will affect us in the workplace (if it hasn’t already.) In this webinar, attendees will look at not only the impact of technology and automation changing how work is done but also the credit professional’s role within the organization. Most importantly, how you can position yourself to be prepared for what the future holds!
  • The A-Z of Credit Management in SAP Fiori 2.0 and SAP S/4HANA Recorded: Sep 19 2019 23 mins
    Shankar Bellam, Director, Pre-Sales Solution Engineering
    SAP Fiori 2.0 is a major upgrade over SAP Fiori 1.0 and continues to focus on ease of use by providing a simple and intuitive experience across all devices. Learn to leverage SAP Fiori apps for credit
    management to double the pace of credit operations. Learn to onboard customers, conduct periodic and ad hoc credit reviews, clear credit blocks, monitor critical accounts and analyze the health of
    receivables using SAP Fiori 2.0 apps for SAP S/4HANA.

    Join this webinar to:

     Understand the functionality that SAP Fiori 2.0 provides on SAP S/4HANA and learn how it differs from SAP ECC
     Discover how to address credit operations, such as credit reviews and customer onboarding, using SAP Fiori apps
     Understand how to monitor critical accounts and analyze key credit KPIs using SAP Fiori apps
     Learn the pros and cons of deploying SAP Fiori apps on-premise and on the SAP Cloud Platform
  • The Non-Nerdy Guide to Artificial Intelligence in Order to Cash Recorded: Sep 12 2019 36 mins
    Tanmay Mehra, Senior Solution Architect
    According to Gartner, your leading peers are expected to double the number of Artificial Intelligence (AI) projects in place within the next year. Technologies like RPA and AI have started to revolutionize order-to-cash (O2C) process in the shared services landscape.

    Collecting documents, collaborating with internal and external teams, and carrying out clerical business processes does not essentially require human intelligence. Automating such tasks with the latest technologies will provide employees the chance to utilize their skills and expertise on more strategic activities like making important credit risk evaluations, focusing on the recovery of invalid deductions, proactively reaching out to the delinquent customers and handling exceptions.

    Artificial Intelligence can drive value across your business, especially in customer experience, cost reduction, and revenue generation initiatives. A successful application of AI can unlock new opportunities and help achieve your business goals.

    To discover more, we invite you to join our webinar, where you can gain a comprehensive understanding of:

    - The true meaning of technology jargons like RPA and AI
    - How does AI work: Learn in a non-nerdy way
    - How can shared services be process-ready for AI
    - Which everyday order-to-cash (O2C) decisions could AI make
    - How the O2C landscape in a shared services setup could benefit from AI
  • Advanced Credit Scoring Models and Workflow Automation Recorded: Jul 25 2019 37 mins
    Dr. Vernon Gerety, Founder and Managing Director, VGAdvisors - Customer Risk and Recovery Advisors
    Have your credit scoring models caught up with technology advancements such as artificial intelligence and statistically validated algorithms? Or, do you continue relying on expert scorecards that have been designed using manually assigned variables with static points?
    With rising competition, volatile markets and unprecedented rise of business risk, advanced credit risk management could very well be a company’s competitive advantage.
    Join, Dr. Vernon Gerety, a 25+ years’ veteran in credit modeling as he takes you through the evolution of credit models and application of advanced statistics to cut credit risk.
  • Artificial Intelligence: Is Collections As a Profession Disappearing? Recorded: Jul 18 2019 28 mins
    Diana Crowe, Financial Technology Principal, HighRadius
    With the onset of Aritificial Intelligence(AI) in accounts receivable/debt collections, there is a lot of turbulence and concern around job security. But, are the concerns a reality?

    Join this webinar to find how AI will enable collectors to play a more crucial and strategic role in their organizations. Discover the benefits of AI and virtual assistants including improved productivity, enhanced decision making, reducing bad-debt and lower DSO!

    Key takeaways:
    1. Non-nerdy explanation of Artificial Intelligence and how it works
    2. Day in a collectors life - with and without technology
    3. How AI is enhancing collections - Watch it ‘LIVE’
    4. Strategic benefits of leveraging AI for decision making
  • Advanced Credit Scoring Models and Workflow Automation Recorded: Jun 11 2019 38 mins
    Dr. Vernon Gerety, Founder and Managing Director, VGAdvisors - Customer Risk and Recovery Advisors
    Have your credit scoring models caught up with technology advancements such as artificial intelligence and statistically validated algorithms? Or, do you continue relying on expert scorecards that have been designed using manually assigned variables with static points?
    With rising competition, volatile markets and unprecedented rise of business risk, advanced credit risk management could very well be a company’s competitive advantage.
    Join, Dr. Vernon Gerety, a 25+ years’ veteran in credit modeling as he takes you through the evolution of credit models and application of advanced statistics to cut credit risk.
Improving Order-to-Cash with technology, best practices, and AI
Learn how companies are improving their credit, collections, cash application, EIPP, and deductions management processes for faster and more efficient order-to-cash management. Subscribe for the latest content updates.

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  • Title: Transforming Shared Service Workforce: Ignoring AI & Millennials Could be Fatal
  • Live at: Mar 26 2020 1:30 pm
  • Presented by: Chris Sanders, FCICM, International Credit Management Consultant(Kinetic Consulting) & Head of Accreditation, CICM
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