6 Best HighRadius Alternatives

Dimitri Raziev14 Jun 20249 mins
6 Best HighRadius Alternatives

Over the years, HighRadius has become a popular solution for accounts receivable (AR) management. In today’s competitive business landscape, managing accounts receivable efficiently is crucial for maintaining a healthy cash flow and ensuring long-term success.  However, HighRadius isn’t the only choice available on the market. For those exploring other top-tier solutions, we’ve compiled a list of the six best HighRadius alternatives, such as Kolleno, Tesorio, Versapay, Invoiced and more. These alternatives can help reduce aging balances and enhance customer relationships.

In This Article

  • What is HighRadius
  • Why Consider HighRadius Alternatives
  • How Did We Choose Top Alternatives?
  • Kolleno
  • Invoiced
  • Tesorio
  • BillTrust
  • Esker
  • Versapay
  • Conclusion

What is HighRadius?

HighRadius is a fintech company specialising in the automation of Accounts Receivable and Treasury Management processes. Their platform offers solutions for credit management, electronic billing, payment processing, cash application, and collections.

Why Consider HighRadius Alternatives

While HighRadius offers a robust suite of tools for financial automation, it’s important to explore other options that might better meet your specific needs or offer different features. Whether you’re looking for more competitive pricing, unique functionalities, or superior customer support, these alternatives can provide valuable solutions to optimise your financial operations.

How Did We Choose Top Alternatives?

To find the best and most popular alternatives to HighRadius, we examined different sources, including user review platforms like G2, Capterra, Trustpilot, and Gartner, well-known industry sources and the software vendors’ own websites. The G2 scores helped us then rank each alternative and place it in a list.

The criteria for G2 reviews:

  • Ease of Setup
  • Ease of Use
  • Ease of Admin
  • Quality of Support
  • Has the product been a good partner in doing business?

1. Kolleno

Highest ranked on G2 with a score of 4.9/5.

Kolleno is an all-in-one AR management platform used by companies like 1Password, Dealer-FX, and Marshmallow and trusted by partners, such as Tipalti, GoCardless, and Adyen. It is built for and by finance professionals to automate and optimise finance back-office processes with AI-powered features. Kolleno simplifies the management of client payments, related communications, and financial reporting by keeping everything in sync – data, systems, and people. It offers a comprehensive suite of AI-powered tools to automate invoice tracking, payment reminders, and collections, making it easier for businesses to manage their cash flow. Founded with the mission to help businesses get paid faster, Kolleno leverages the latest and most advanced technology to bring efficiency to AR management. Additionally, it has integrations with ERPs such as NetSuite, QuickBooks, Sage, Xero, and payment processors GoCardless, Adyen and many more.

Key Features:

  • Drag and drop AI-driven collection workflows: Customers can use workflows to automate and optimise their AR processes by personalising customer engagement, dynamically adjusting workflows based on real-time data, predicting future payment behaviours, and seamlessly integrating with existing systems. Machine learning enables the system to autonomously find and act on the best collection strategy, such as messaging customers who are most responsive by email at specific times like 4 PM. 
  • Task manager: Kolleno’s task management system is designed to enhance finance team collaboration by assigning tasks, sending external alerts, and using a centralised information hub. Key features include internal note-taking, reminder notifications, and automated system alerts. The platform allows for efficient prioritisation of tasks, emails, and notes, helping bridge gaps between teams to improve customer experience and productivity. It supports unlimited task creation and user collaboration, with customisable permissions for different roles.
  • Automated payments reconciliation: This feature automates the matching of payments with invoices, enhancing financial accuracy and efficiency. Key elements include a payments matching engine that uses a scoring system to identify perfect or suggested matches, the ability to handle one-to-one, one-to-many, and many-to-one matches, and integration with ERP systems. This automation reduces manual workload, improves accuracy by identifying discrepancies, and provides real-time updates, helping businesses maintain precise financial records and streamline their reconciliation processes.
  • Clients payment portal: Kolleno’s payments portal offers a customer-focused solution that supports multiple payment methods, including direct debit, credit cards, online payments, and wire transfers. The platform enhances customer convenience and security, supports various currencies, and integrates with ERP systems. 
  • Real-time analytics and reporting: Kolleno provides real-time access to live dashboards and custom reports, offering insights into debtors, invoices, and customer behaviour. It integrates directly with ERP systems for instant data access, enabling informed decision-making based on collections insights, customer analytics, and employee KPIs. Users can schedule automated reports, personalise them, and track collection strategies to optimise operations and improve responsiveness.

Why Choose Kolleno?

Kolleno is the highest-rated AR automation platform by users with a 4.9/5 score. Kolleno’s AI-driven intelligent workflows and automated multi-channel communication tools offer a personalised and effective approach to accounts receivable management, enhancing cash flow management for businesses. It provides customisable features tailored to specific client needs and boasts the fastest setup and onboarding time in the industry—averaging 30 days compared to the six months required by competitors like HighRadius. This efficiency makes Kolleno an excellent choice for businesses seeking to streamline their financial operations.

Explore more in the product tour.

2. Invoiced

G2 score: 4.6 / 5


Invoiced is a flexible AR automation platform designed to simplify the invoicing and payment process. It offers a range of features to help businesses automate AR tasks, improve cash flow, and enhance customer experiences. Invoiced’s suite of tools is designed to meet the needs of businesses of different sizes, providing them with the flexibility and functionality they need to manage their AR processes.

Key Features:

  • Recurring Billing and Subscription Management: Invoiced supports recurring billing and subscription management, making it an alternative solution to HighRadius for businesses with recurring revenue models
  • Payment Reminders and Collections Automation: The platform automates payment reminders and collections, helping businesses reduce late payments and improve cash flow.
  • Customer Portal: Customers can access their invoices, make payments, and manage their accounts through a user-friendly self-service portal.
  • Integration with Accounting and ERP Systems: Invoiced integrates with popular accounting and ERP systems, ensuring seamless data synchronisation and reducing manual data entry.

Why Choose Invoiced?

Invoiced helps businesses reduce the time spent on manual AR tasks, improve cash flow, and provide a seamless payment experience for customers. Its flexible platform and robust automation capabilities make it a good choice for businesses of all sizes. By automating key AR functions, Invoiced enables businesses to optimize their AR processes, reduce operational costs, and enhance overall efficiency.

3. Tesorio

G2 score: 4.6/ 5 


Tesorio is an AR automation platform that optimises cash flow and reduces manual tasks. It provides visibility into cash flow and helps businesses make informed financial decisions. Tesorio’s approach to AR management is designed to provide finance teams with the tools to manage cash flow.

Key Features:

  • Automated Collections and Payment Reminders: The platform automates the collections process, sending payment reminders to customers and tracking their responses.
  • Cash Flow Analytics and Reporting: Tesorio offers analytics and reporting on cash flow, helping businesses identify trends. 
  • Integration with ERP and Accounting Systems: Tesorio integrates with popular ERP and accounting systems, ensuring seamless data synchronisation.
  • Customer Payment Behavior Insights: The platform provides insights into customer payment behaviour, enabling businesses to tailor their collections strategies and improve payment outcomes.

Why Choose Tesorio?

Tesorio offers cash flow forecasting, automated collections, and integration with ERP systems. It provides analytics and reporting tools to help businesses manage cash flow and reduce manual tasks. 

Care to compare? Kolleno vs Tesorio

4. Billtrust 

G2 score: 4.4 out of 5


Billtrust provides a suite of services that streamline the order-to-cash process. It offers a range of features to help businesses accelerate payments, reduce DSO (Days Sales Outstanding), and enhance customer experiences. 

Key Features:

  • Invoice Presentment and Payment: Billtrust’s platform allows businesses to present invoices electronically and provides customers with various payment options, including ACH, credit card, and wire transfer.
  • Cash Application Automation: Billtrust automates the cash application process, matching payments to invoices with high accuracy and reducing the need for manual intervention.
  • Credit Management: The platform offers tools to assess and manage customer credit risk, helping businesses make informed credit decisions and mitigate potential losses.
  • Customer Portal: Customers can access their invoices, make payments, and track their payment history through a user-friendly self-service portal.
  • Reporting and Analytics: Billtrust provides detailed analytics and reporting, giving businesses insights into their AR performance and helping them identify areas for improvement.

Why Choose Billtrust?

Billtrust’s feature set, especially its credit risk management and cash application tools, makes it a good alternative to HighRadius for businesses looking to improve their financial operations and customer satisfaction.

Compare Billtrust to Kolleno.

5. Esker

G2 score: 4.4 / 5


Esker is an AR automation solution, offering a comprehensive platform to manage the entire order-to-cash process. Its automation capabilities help businesses improve efficiency and reduce the time spent on manual AR tasks. Esker’s solutions are designed to streamline and optimise AR processes.

Key Features:

  • Invoice Automation: Esker automates the creation, delivery, and tracking of invoices, reducing the time and effort required for these tasks.
  • Electronic Payment Processing: The platform supports electronic payment processing, providing customers with multiple payment options and ensuring payments are processed quickly and securely.
  • Cash Application Automation: Esker automates the cash application process, matching payments to invoices with good accuracy and reducing manual intervention.
  • Credit and Collections Management: The platform offers tools to manage credit risk and automate the collections process, helping businesses reduce DSO and improve cash flow.
  • Analytics and Reporting: Esker provides analytics and reporting on AR performance, giving businesses the insights to optimise their processes and make informed decisions.

Why Choose Esker?

This tool provides invoice automation, electronic payment processing, and integration with ERP systems. It includes features for credit and collections management, as well as analytics and reporting to help businesses improve efficiency. However, the platform’s extensive automation capabilities may not be necessary for all businesses, and the benefits gained largely depend on the specific needs and existing processes of the user.

6. VersaPay

G2 score: 4.2/5


VersaPay focuses on enhancing the accounts receivable process through collaborative AR automation and a cloud-based platform that promotes customer engagement.

Key Features:

  • Collaborative Invoicing and Payment Portal: Versapay’s portal allows businesses and customers to collaborate on invoicing and payment issues in real-time, improving communication and reducing disputes.
  • Automated Payment Processing: The platform automates payment processing, ensuring that payments are applied quickly and accurately.
  • Payment Tracking: Versapay provides visibility into payment statuses, allowing businesses to track payments and address any issues.
  • Dispute Management: The platform offers tools to manage and resolve payment disputes, reducing the time and effort required to address these issues.
  • Integration with ERP Systems: Versapay integrates with popular ERP systems, ensuring that data is synchronised and up-to-date.

Why Choose Versapay?

VersaPay’s emphasis on collaboration and customer engagement through its self-service portal sets it apart, making it a better alternative to HighRadius for businesses that prioritise customer relationships.

Compare Versapay to Kolleno.

Compare all options

Competitor comparison table for AR Management solutions


In conclusion, while HighRadius is a well-regarded solution for accounts receivable management, it is not the only option available. The six alternatives highlighted in this article—Kolleno, Invoiced, Tesorio, Billtrust, Esker, and VersaPay—offer a range of features and capabilities that may better align with your specific business needs. These platforms can help enhance cash flow, reduce aging balances, and improve customer relationships, ensuring that your financial operations are both efficient and effective. By exploring these alternatives, you can find the best solution to optimize your accounts receivable processes and drive your business towards long-term success.

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