HOUSTON & DALLAS--(BUSINESS WIRE)--o9 Solutions, a premier AI-driven integrated planning and operations solution provider; and HighRadius, a fintech enterprise Software-as-a-Service (SaaS) company specializing in automating the order-to-cash and treasury management processes; have partnered to deliver an integrated solution to eliminate friction between trade promotion planning and settlement process. The partnership enables customers to build commercial plans for different time horizons (e.g. long-range and annual operating plans) at category, brand and customer levels in the o9 integrated planning platform while benefiting from the HighRadius Integrated Receivables platform’s automated reconciliation of deductions capabilities to streamline processes and eliminate invalid claims.
Research from PwC indicates that there is $200B spent annually on trade promotions in the US alone. In particular, McKinsey and Co. research shows Consumer-Packaged-Goods (CPG) companies invest approximately 20% of revenue on trade promotions. Most companies are left to manage these complex trade promotions across thousands of retail and distribution partners with spreadsheets for planning and manual reviews of deduction requests resulting in higher costs of managing trade promotions and higher rates of invalid deductions being paid.
“o9 Solutions and HighRadius are two best-of-breed solutions that will be tightly integrated to transform the planning and execution of trade and promotion investments to drive higher ROI for our joint customers,” said Chakri Gottemukkala, CEO of o9 Solutions.
Both o9 and HighRadius are cloud-based, AI-powered enterprise software providers that solve complementary problems for numerous Fortune 500 clients. This partnership leverages deduction management capabilities of HighRadius® Integrated Receivables platform and o9’s commercial planning solution to enable customers to improve cash flows, financial performance, and channel relationships through fewer write-offs, accelerated collections, better customer communications and reduced overhead involved in managing deductions and trade promotions.
“HighRadius has a large and growing client list that are planning and executing complex trade promotions management schemes in industries like CPG, food and beverage and apparel,” said Sashi Narahari, founder and CEO of HighRadius. “HighRadius has historically helped customers process and clear trade deductions for such schemes with limited visibility and integration into trade promotions management (TPM) systems. Partnering with o9 will enable our clients to reduce the management costs and improve yield from their investment in trade promotions.”
The partnership is a natural extension of market trends around the further digitization and adoption of AI of core finance functions. These secular trends were further validated through the recent funding and unicorn valuation announcements from both o9 Solutions and HighRadius.
About HighRadius Corporation
HighRadius is a Fintech enterprise Software-as-a-Service (SaaS) company which leverages Artificial Intelligence-based Autonomous Systems to help companies automate Accounts Receivable and Treasury processes. The HighRadius® Integrated Receivables platform reduces cycle times in your order-to-cash process through automation of receivables and payments processes across credit, electronic billing and payment processing, cash application, deductions, and collections. HighRadius® Treasury Management Applications help teams achieve touchless cash management, accurate cash forecasting and seamless bank reconciliation. Powered by the Rivana™ Artificial Intelligence Engine and Freeda™ Digital Assistant for order-to-cash teams, HighRadius enables teams to leverage machine learning to predict future outcomes and automate routine labor-intensive tasks. The radiusOne™ B2B network allows suppliers to digitally connect with buyers, closing the loop from supplier receivable processes to buyer payable processes. HighRadius solutions have a proven track record of optimizing cash flow, reducing days sales outstanding (DSO) and bad debt, and increasing operational efficiency so that companies may achieve strong ROI in just a few months. To learn more, please visit www.highradius.com
About o9 Solutions, Inc.
o9 Solutions is the premier AI-powered platform for driving digital transformation of integrated planning and operations capabilities. o9’s clients span a variety of industries across manufacturing and retail supply chain. Whether it is driving demand, managing supply or aligning demand and supply, any process can be made faster and smarter with o9’s AI-powered digital solutions. Bringing together technology innovations — such as graph-based enterprise modeling, big data analytics, advanced algorithms for scenario planning, collaborative portals, easy-to-use interfaces and cloud-based delivery — into one platform, o9 empowers organizations with superior visibility and insights that are both predictive and prescriptive. With o9’s AI-powered solutions, enterprises can achieve faster, smarter decision making and execution.
For more information, visit http://www.o9solutions.com.