Autonomous finance software provider HighRadius has acquired Cforia Software, a US-based company that delivers working capital and accounts receivable (A/R) automation software.
The financial terms of the deal were not disclosed.
Through the acquisition of Cforia Software, the autonomous finance software provider aims to bring additional capabilities as well as a diverse set of clients to the company.
Established in 2001, Cforia Software offers billing and collections automation software.
The company’s automated order-to-cash platform is said to make business-to-business (B2B) interactions simpler. It also offers clients everything they require to generate a frictionless customer experience and drive better business results.
Besides, Cforia Software’s platform maximises AR performance by automating and digitalising the order-to-cash (O2C) process, including collections, disputes and deductions, cash application, and credit.
The company’s tools also support finance teams to manage significant tasks like electronic dunning correspondence, reports, and credit and collections business logic.
HighRadius claims to have transformed order-to-cash, treasury, and record-to-report processes for over 800 companies globally.
The brands that the company serves include Anheuser-Busch InBev, Sanofi, 3M, Unilever, Kellogg, Engie GBS Solutions, Danone, Hershey’s, and others.
HighRadius chief operating officer Urvish Vashi said: “We would like to welcome Cforia customers to the HighRadius family. This combination allows us to bring more resources and support to their operations.”
The transaction was completed earlier this month.
In December 2022, HighRadius partnered with Google Cloud to speed up the availability and global deployment of its chief financial officers (CFOs) solutions for customers on the secure and sustainable infrastructure of the latter.