Fintech HighRadius Introduces FreedaGPT: Generative AI for the Office of the CFO

HighRadius, the provider of Autonomous Finance Software for Order to Cash, Treasury, and Record to Report, launched FreedaGPT – Generative AI for the Office of the CFO.

FreedaGPT is the next generation of Freeda – HighRadius’ AI-enabled digital assistant “for Order to Cash, Treasury, and Accounting teams.”

By integrating proprietary machine learning and AI algorithms “with OpenAI models, customers can leverage natural-language prompts to unlock powerful automation without complex coding.”

FreedaGPT is currently available as “a public beta” with the following use cases:

FreedaGPT can help finance teams “save the time they spend painstakingly responding to emails from customers, vendors, and internal business teams.”

For example, collections agents “receive hundreds of emails from customers and sales teams daily.” These could include inquiries “for bank statement & account summaries, customer invoices, credit limits, and transaction summaries. Collectors typically spend at least one-third of their day generating reports and finding the right attachments to respond to these emails.”

HighRadius’ FreedaGPT uses Generative AI to “understand incoming emails, draft replies, and auto-append attachments.”

The collector can simply log into their FreedaGPT-managed inbox, “use the FreedaGPT-generated email responses, and just hit send.”

FreedaGPT is integrated within the HighRadius’ Autonomous Platform, “avoiding the hassle of switching between email applications, GPT tools, and the HighRadius platform.”

FreedaGPT for Chat-to-Analytics

FreedaGPT can help finance teams “generate reports in seconds with simple natural language input without going through complicated ERP screens or working with IT teams for data.”

For example, as quarter-end approaches, accounting teams “have the thankless job of gathering past data, making consolidated reports, and generating real-time insights to help CFOs make accurate decisions.”

With FreedaGPT, accountants can simply “use NLPs to generate reports and charts, review trends of closing balances across GL and Sub-GL accounts, compare historical transactions, identify missing transactions in the current period, and much more.”

FreedaGPT for Live Call-to-Notes Summaries

FreedaGPT enhances collectors’ efficiency by eliminating the risk of missing details during collection calls. It actively processes call information and generates concise summaries and action items from the call transcript within HighRadius modules.

For example, collectors handle multiple dunning calls daily, “where customers provide promise-to-pay (P2P) dates that need to be recorded.” They also need “to send reminder emails proactively.”

With FreedaGPT, collectors “can ease the burden of tracking P2P dates and concentrate on effective client communication.”

FreedaGPT automatically sends “a meeting summary after each call, records the P2P date, and drafts a reminder email.” Additionally, it provides timely reminders “to the collector as the P2P date approaches.”

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