FIS Launches Its New Revenue Insight Solution to Transform Accounts Receivable Management and Optimize Collections
Key Facts
- The FIS Revenue Insight solution harnesses artificial intelligence (AI) as it seeks to provide a comprehensive tool for giving actionable insights into cash at risk without manual, error-prone processes.
- The patented solution enables finance teams across any industry to identify high-risk accounts, prioritize collection efforts and proactively manage cash flow across the money lifecycle.
- The FIS Revenue Insight product empowers businesses to turn the office of the CFO from a cost center to a true strategic advantage by removing friction in money movement and creating revenue opportunities to help businesses grow.
FIS® (NYSE:FIS), a global leader in financial technology across the full money lifecycle, today announced the launch of FIS Revenue Insight, a predictive analytics solution designed to help businesses optimize collections. Through proprietary patented technology powered by artificial intelligence (AI), FIS Revenue Insight aims to deliver actionable insights into cash at risk, enabling companies to proactively identify risks, accelerate revenue and drive business growth.
The FIS Revenue Insight solution is part of the FIS Automated Finance suite, which delivers data-driven receivables automation, payables automation and revenue optimization solutions for the office of the CFO in any industry, enabling the seamless flow of money in motion.
Why Revenue Insight Matters
Today's finance leaders across industries face growing pressure to modernize their accounts receivable management. According to a recent survey,1 81% of businesses have experienced an increase in delayed payments, with 50% experiencing late payments from customers and 77% of AR teams falling behind on their metrics. Even the best finance departments face questions about which accounts will or will not pay, and who will self-correct or who will go into severe delinquency.
The FIS Revenue Insight product can help CFOs bring technology harmony to the money lifecycle, employing AI to analyze customer data, identify high-risk accounts and address potential issues before they escalate. This tool uncovers patterns and trends that might go unnoticed by human analysis, allowing finance teams to shift from manual tasks to strategic activities and reduce days sales outstanding. Additionally, when paired with FIS' award-winning GETPAID™ credit-to-cash solution, users may see enhanced cash flow and working capital optimization, deeper insights into portfolio risk and greater levels of automation. With the proprietary Revenue Insight scoring model, businesses can prioritize accounts that are at the highest risk of payment delays, ensuring their collection efforts are more targeted and efficient.
"Revenue Insight, as part of the FIS Automated Finance suite, can revolutionize the way CFOs manage cash flow in today's fast-paced environment. Our vision is to provide systems that turn finance from a cost center into a growth partner, taking the friction out of finance through visibility, real-time insights and innovation that maximizes revenue and strengthens customer relationships," said Seamus Smith, group president of Automated Finance, FIS. "A data-driven, proactive approach to accounts receivable management is critical for our clients to balance money in motion while maintaining a competitive edge and financial stability. With the help of Revenue Insight, our clients can take the guesswork out of collections."
FIS Revenue Insight's versatile application can benefit a broad range of sectors, including accounts receivables, financial institutions, supply chain financing, debt collectors, insurance premiums and utilities.
For more information on Revenue Insight, visit www.fisglobal.com/products/automated-finance.
FIS is a financial technology company providing solutions to financial institutions, businesses and developers. We unlock financial technology to the world across the money lifecycle underpinning the world's financial system. Our people are dedicated to advancing the way the world pays, banks and invests, by helping our clients to confidently run, grow and protect their businesses. Our expertise comes from decades of experience helping financial institutions and businesses of all sizes adapt to meet the needs of their customers by harnessing where reliability meets innovation in financial technology. Headquartered in Jacksonville, Florida, FIS is a member of the Fortune 500® and the Standard & Poor's 500® Index. To learn more, visit FISglobal.com. Follow FIS on LinkedIn, Facebook and X.
1 American Express, Meeting the Growing Need for AR Modernization - The B2B and Digital Payments Tracker® Series
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Kim Snider, 904.438.6278
Senior Vice President
FIS Global Marketing and Communications
[email protected]