The Challenge: Your company demands best-in-class collection results but does not have an effective powerful “production” tool to drive the invoice collections function. Legacy systems are inadequate, ERP systems are complex to customize and not focused on your needs, or you are using Excel spreadsheets to manage your workload. Regardless of which describes your situation, productivity is suffering along with results.
The Solution: A strategy-based Collection System that can support the unique business practices of multiple business units while still ensuring defined policies and controls for a world-class Collection Organization. Through the use of automation, workflows and unique coding schemas, your organization can achieve the KPI’s set by your organization. Integration is key to the solution, using Credit Data to assign Risk Classes, Payment Performances to drive Collection touch points and Deduction Resolution Workflows to keep receivable balances and past dues in line with corporate goals.
- Achieve best-in-class DSO and cash flow, and reduce delinquency, and bad debts.
- Assure outstanding results without adding staff with system-driven performance
- Much better net-cost than offshoring
|Consolidation of multiple business units in a single database||Corporate wide view of Accounts Receivable Aging|
|Use of email automation and workflows to drive collection activity||Collection efforts directed to the high priority accounts and ensure 100% account coverage|
|Standard matrix of transaction reason and status codes||Application of coding across business units and ability to consolidate performance and trending|
|All Collector activity is captured||Clear audit trail for SOX requirements and to track Collector performance|
|Dashboards and Reporting for corporate KPI’s||Comprehensive month end reporting|