HighRadius, the global player focused on Autonomous Finance Platforms for the Office of the CFO, announced the launch of LiveCube – A No Code Platform for the Office of the CFO at Radiance 2023, the annual conference of 1000+ finance professionals.
LiveCube will “enable finance business users, including A/R, Treasury & Accounting teams, to build their own applications as extensions to standard functionality received from enterprise systems without depending on IT Dept or Admin Users using a familiar Excel-like spreadsheet interface.”
LiveCube combines “the flexibility and familiarity of an Excel-like interface with pre-configured bi-directional data integrations with popular enterprise applications, including ERPs, CRMs and Data Warehouses.”
Users can natively “retrieve raw data, perform calculations and upload results into enterprise systems of record without the costly and error-prone process exporting CSVs, manipulating and in Excel and re-uploading familiar to every finance professional.”
The use cases for “such a no-code platform are limitless, HighRadius demonstrated the following use cases at the product unveiling.”
- Collections Worklists. In Order-to-Cash, Collections Managers can use LiveCube to use a set of custom parameters to reprioritize their collectors worklists. They can use source date from their ERP for Open A/R, Closed A/R and Customer Master and then feed back the reprioritized worklist back into HighRadius Collections. This means that managers have the flexibility of spreadsheets, while ensuring that their collectors still continue to use HighRadius as the single pane of activity.
- Cash Forecasting Scenario Modeling. Treasury users can use LiveCube to apply different scenarios on top of their baseline cash forecast. Scenarios could range from anticipated delays in A/R to planned delays in A/P or forecast changes at any other cash flow category. They can then compare these new scenarios to their baseline cash forecast and make recommendations for course-correction.
- Financial Close, Accruals, and Journal Entries. The traditional financial close process is riddled with multiple spreadsheets that are updated by individual users and then rolled-up into a master spreadsheet for performing the actual journal entries.
- Accounting users can now setup individual LiveCubes for key close activities such as PO Accruals. With such a LiveCube, not only can they review and recommend accruals, push journal entries directly from LiveCube, and also provide the high levels of auditability for management.
Sashi Narahari, Founder & CEO of HighRadius, said:
“There are 3.3 Billion business users globally who’s productivity and innovation are bottlenecked by only 27 Million software developers. This imbalance has hindered users from making even the most basic improvements, as the smallest changes in their daily workflows require going back to their IT departments or technology vendors. LiveCube gives finance professionals the ability to rely on a familiar Excel interface to simplify their jobs without having to solve the complex challenges of data integrations and scalability, which happens entirely behind the scenes.”