Case Study: Parikh Financial achieves 99% invoice hit rate and 50% faster cash posting with HighRadius

Streamlining Cash Reconciliation to Achieve a 99% Hit Rate on Invoices

Parikh Financial LLC, a Houston-based factoring firm that converts invoices into cash, faced mounting pressure from manual cash reconciliation and posting processes handling 2,400+ checks and ACH payments weekly. To scale without adding headcount and eliminate time-consuming remittance gathering, matching and no-remittance investigations, Parikh Financial implemented HighRadius’ RadiusOne Cash App.

HighRadius automated bank payment capture, remittance aggregation from multiple sources, invoice-to-payment matching and deduction coding to enable straight-through cash posting and faster exception handling. The HighRadius solution reduced cash-posting time by 50%, delivered a 99% item-level hit rate and increased team productivity by 60%, significantly cutting manual effort and improving accuracy.

Parikh Financial

Raj Parikh

Co-Owner