Deloitte India joins forces with HighRadius to provide automated finance solutions

New Delhi, __ May 2022: A recent Deloitte global study[MA1] [GS2] 1 found that 40 percent CFOs consider “technology upgrades” as the most critical transformation to be undertaken by organisations. Automation is expected to play a key role across areas of finance, with one of them being “Invoice to Cash” (I2C). According to Gartner2, the pandemic has accelerated the demand
for I2C applications and the integrated I2C market is expected to reach US$3
billion by 2024.[MA3] [GS4]

Considering the evolving digitisation needs, Deloitte Touche Tohmatsu India LLP (Deloitte India) has joined forces with HighRadius Corporation (HighRadius) to introduce leading digital innovations in I2C. These solutions will help CFOs and finance teams optimise operations through automation within I2C areas, such as cash application, collections, deductions, and credit management. While Deloitte already has a global alliance with HighRadius, the recent alliance in India promises wider access to leading solutions amongst organisations.

ALM Intelligence has, for many years, recognised Deloitte as a global market leader in finance transformation and digital finance consulting. Deloitte’s finance and performance practice spans across 100 countries and has over 10,000 professionals globally.

Vinay Prabhakar, Partner, Consulting, Deloitte India, said, “Alliances such as the one with HighRadius, drive Deloitte’s capabilities through leading technology stacks. They empower us to support clients, strategically reimagine their future, and provide them distinct services. Through such alliances, we bring the right digital interventions for our clients to realise the significant benefits of digital
transformation.”

Dhiraj Bhandary, Partner, Consulting, Deloitte India, said, “With our alliance, we will aim to bring a powerful platform that will help drive efficiency in the working capital cycle by supporting the customer credit evaluation, collection, and application process using exponential technologies.”

Naveen Gupta, Vice President - APAC Sales, HighRadius, said, “HighRadius has been recognised as the leading provider of autonomous finance by 700+ companies across the globe, as well as Gartner2. Our alliance with Deloitte will help us bring the benefits of AI-driven finance processes to organisations in India, and take advantage of our laser focus on speed to value, ensuring our clients reap these benefits in the short order. The alliance will also create opportunities for young graduates in India, as we are building the HighRadius centre of implementation excellence for global customers with partners such as Deloitte. We expect centres such as these to employ 3,000-5,000 people overtime, with high-end AI and automation skills.”

Notes to the editor for reference purposes only

This press release has been issued by Deloitte Touche Tohmatsu India LLP.

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. Please see www.deloitte.com/about for a more detailed description of DTTL and its member firms.

Notes

1. Deloitte’s internal report on ‘Finance Transformation Essentials’; December 2021

2. Gartner’s ‘Magic Quadrant for Integrated Invoice-to-Cash Applications”; published on 06 April 22