Can’t Touch This

Serrala Creates Frictionless AP and AR Cloud Solutions

For the sixth year running, Serrala has been awarded the Best Accounts Payable & Receivables Technology Solution by TMI. In 2020, the acclaimed vendor of finance and treasury solutions launched touchless receivables and payables tools that are invaluable –especially in times of remote working.

Serrala needs no introduction – the treasury community knows the company’s comprehensive portfolio of solutions, which enables them to better manage their accounts payable and receivable cash, treasury, and information lifecycle processes. But over the past 12 months Serrala has focused on expanding its portfolio of finance and treasury solutions and building out hubs consisting of different processes that fit seamlessly together like a puzzle.

Treasurers can pick and choose the core features they need, for example cash application and collections. Then they can add functionality such as request-to-pay, credit management, compliance checks, dispute management, and so on. This enables them to build a hub of fully integrated, automated processes for their entire order-to-cash cycle. The solutions are available on-premise, in the cloud, or as software-as-a-service (SaaS), and can be combined in a hybrid model based on customers’ unique requirements.

Paying it forward

In the selection process for TMI’s Awards for Best Practice and Innovation 2020, the judges were particularly impressed by two new cloud-based solutions that digitise accounts receivable/accounts payable (AR/AP) processes and support remote working perfectly: Serrala Alevate AP and Serrala Alevate RTP.

Serrala Alevate AP is a flexible and secure cloud solution that intelligently automates AP processing including the capture, validation and processing of vendor invoices from start to finish. The solution creates a global hub to quickly standardise invoice processing across multiple, disparate enterprise systems and can be flexibly deployed as a full-cloud or hybrid-cloud solution. Companies can use the solution to achieve complete transparency and control over AP processes and meet their current and future invoice processing needs from both a business and IT perspective.

This solution has proved particularly powerful for organisations during global lockdown, enabling them to adapt to rapidly changing business conditions and:

Solving receivables challenges

On the receivables side, Serrala Alevate RTP offers an easy, fast and frictionless payment experience for customers. Highly automated, cloud-based, and completely digital, the solution pulls payment details from the AR system, packages them in a personalised link to an organisation’s customers. It offers a large range of online payment options (ACH, PayPal, Klarna etc.) to settle the open invoice in a matter of seconds. Nothing to download, no registration, no login, no typing, no mistakes, no touch – delivering reliable data for cash forecasting. 

The solution is currently helping more than 200 customers worldwide to solve receivables-related challenges. The proven cloud-based solution easily connects to any source system to generate unique payment requests. It delivers the requests via any channel and provides customers with the online payment methods of their choice. As a result, invoices are paid more quickly, the customer experience is vastly improved and treasurers are supported on their digital transformation journeys.

Vishal Awasthi, SVP Technology, Serrala, comments: “In these unprecedented times, when finance and treasury teams were abruptly forced to work virtually, the benefits of cloud solutions enabling touchless payables and receivables have become even more evident than ever before. Serrala’s cloud-native Alevate solutions help our customers quickly take advantage of the latest cognitive and AI [artificial intelligence] technologies to take their finance processes to the next level.”

Intelligent wins

Taking all of this into account, the TMI judges had no hesitation in awarding the Best Accounts Payable & Receivables Technology Solution accolade to Serrala for a sixth year running. The vendor continues to find new ways to help treasurers be even better at their jobs – and never stands still.

Reflecting on the win, Sven Lindemann, CEO, Serrala, comments: “The award highlights our approach to drive innovations for intelligently automated finance processes and cash visibility. We are proud that our future-proof finance and treasury solutions have been recognised by TMI again. This also reflects our continuously growing position in the market.”