Big Four firm EY recently announced an alliance between HighRadius, a financial technology enterprise SaaS company, and its U.S. arm as part of an effort to help clients transform their finance processes utilizing the power of artificial intelligence (AI) integration.
Founded in 2006, the Houston, Texas-headquartered HighRadius provides cloud-based autonomous software to more than 700 of the world’s leading companies, including 3M, InBev, Danone, and others. Its autonomous software leverages AI, robotic process automation (RPA), and natural language processing (NLP) to bring a data-driven solution that continuously morphs its behavior to the changing underlying domain transactional data in the finance and accounting domain. The company employs more than 3,500 professionals and claims to process over $4.7 trillion B2B transactions a year for clients across 92 countries.
The new pairing combines EY US’ Finance and Technology transformation expertise with HighRadius’ market-leading platform in autonomous receivables and treasury to extend the office of the CFO’s capabilities. Adding HighRadius’ unique financial offering to EY US’ deep knowledge and experience in financial transformation will help mutual clients draw on the best of both companies to utilize strategic insights and mitigate risk while driving efficiency through technology innovation, process, and reporting.
“With the advent of AI and [machine learning] (ML) as central optimization drivers and customers’ pressing need for timely and accurate management of working capital and liquidity, this alliance with HighRadius is an important complement to the EY technology capabilities,” said Andres Leguizamon, EY–HighRadius Alliance Leader, Ernst & Young LLP, in a press release. “EY US is focused on building a better working world by providing innovative and integrated solutions to the market.”
EY has a long history of building alliances with innovators in the technology space, and the partnership with HighRadius is the most recent pairing focused on driving change through emerging technology. In March, the firm announced a partnership with Unquork, a leading Codeless-as-a-Service (CaaS) development platform to help organizations address the challenges of traditional code-based software development; and in January EY announced an alliance with Appian, a leader in low-code process automation in the financial services industry.