The Challenge: Deductions are the bane of finance and sales, and costs your company more than bad debts. The balancing act between timely processing against the need to carefully audit for systemic problems and customer errors is challenging. Even if deductions are “budgeted” or considered a “cost of doing business”, they nevertheless cost millions of dollars of profit every year.
Managing and quantifying deductions, charge backs, claims and disputes is difficult due to the sheer volumes of transactions, manual processes and poor communication throughout an organization.
The Solution: The Carixa Deduction Resolution module creates collaborative workflows that engage individuals from varied departments and ensures that they fulfill their deduction resolution responsibilities. Unique workflows can be configured based on deduction type and amount and channeled to the responsible parties.
Collecting and storing the required documentation to substantiate the approval or rejection of a deduction is also managed by Carixa. Debit memos can be retrieved from customer websites and be used to automatically create the deduction or simply be attached to an existing deduction. If a deduction ultimately needs to be credited or adjusted, approval forms with approval thresholds assigned to each user can be attached to the business process and becomes a permanent record within Carixa.
- Achieve best-in-class deduction processing (DD0)
- Identify root causes and prevent deductions
- Recover more money- collect more deductions
- Eliminate most of the manual work involved
|Collaboration Portal automatically notifies users of new deductions||Quick engagement leads to swift resolution|
|Workflows configured based on deduction type and dollar amount||Focuses on cash recoveries|
|Escalation based on type, age, and amount of deduction||Customer satisfaction increased|
|Adjustment approval thresholds are assigned to each dispute type||Ensures complete and accurate documentation to satisfy Audit requirements|
|Documentation to satisfy Audit requirementsclosure||Customer satisfaction increased|