Case Study: Parikh Financial LLC achieves 99% invoice hit rate with HighRadius

Parikh Financial LLC cuts cash posting time by 50% with HighRadius

Parikh Financial LLC, a provider of factoring services based in Houston, faced significant challenges due to its manual cash reconciliation process. The company struggled with manually gathering remittances from different sources, matching payments, posting cash into its FactorFox ERP, and investigating scenarios with no remittance. To address these inefficiencies, Parikh Financial partnered with HighRadius to implement its cash application management solution.

By implementing the HighRadius solution, the company achieved automated aggregation of remittances and straight-through cash posting. This automation drastically reduced cash posting time by 50% and increased team productivity by 60%. Most notably, Parikh Financial LLC achieved a 99% item-level invoice hit rate. HighRadius provided the accurate and speedy platform needed to streamline their entire cash reconciliation operation.

Parikh Financial LLC