Avoiding Collection Decision Gridlock

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  Dealing With Chronic Slow Pays    Chronic slow payers can be profitable, long-term customers, but they require constant attention so that they do not age-out to the point they become bad debts.  If through inaction, you allow customers to pay slowly, not only do you not get your cash flow, but they will order… Read more »

Selecting a Deduction Management System

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Selecting a deduction management system including cash application software can be confusing, so let’s start with a set of basic specifications based on your own operational needs and experience. You can add to it as you review various systems and see how others are interacting with the software. You will soon develop a list of… Read more »

Accounts Receivable Deduction Management Features

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Accounts receivable management is rife with functions that are only partially automated, still manual, or which need to be done offline, for example, by using Excel. The right system will encompass all of these and will automate, at a minimum, these features and eliminate offline processes: EDI capabilities from 810 invoice processing to 820 cash… Read more »

Why SaaS is Such a Powerful Solution

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In the past, companies bought, built, and maintained their IT infrastructures despite the huge costs because there was no choice. The Internet’s exploding bandwidth changed this, and Software as a Service (SaaS) is now a better alternative without the large investment. The SaaS model is growing exponentially because it offers serious business benefits. SaaS applications… Read more »

Improve Your Profits: Vendor Compliance Chargebacks

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Vendor Compliance Chargebacks are a serious problem for many retail suppliers, often amounting to a loss equal to more than 1% of annual revenue, because of suppliers’ failure to comply with retailers’ detailed order, billing, and shipping requirements. The first step in the compliance penalty and deduction cure process is to put the first foot… Read more »

Post-Audit Claims & Deductions Management

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Post-Audit Claims & Deductions taken by commission-based auditors hired by retailers total billions of dollars annually and, because of the age and structure (by SKU and line item), these claims are challenging to research, reconcile, and document without powerful custom software, such as our Carixa™ Matching and Reconciliation Software. Further, when the claims are partially… Read more »

Robotic Process Automation (RPA)

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Robotic Process Automation (RPA) refers to the use of computer that controls and automates rule-based processes without the need for human supervision or labor, including automated cash application, collections and deduction management. RPA enables the automatic access, capture, manipulation, interpretation, and action on data and documents from other internal and external systems. Using RPA, our… Read more »

Deduction Management with Carixa™: The Results

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At Smyyth, our goal is to help corporations reduce customer deductions and related administrative costs. Trade disputes cost companies millions of dollars a year and can stem from product shortages, shipping mistakes, pricing mismatches, promotional allowances, and process errors. While customer deductions are frequently viewed as transactional problems and often just a “cost of doing… Read more »

How Factoring Works

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The factoring industry is well established and comprised of both specialized factors for many industries and the giant factoring companies that are able to handle larger exposures with more complex requirements. Many companies factor during their entire existence; others only until they are able to manage credit on their own. For smaller companies without alternative… Read more »

Accounts Receivable Puts

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Credit Managers frequently have questions about how to mitigate trade credit risk when traditional credit insurance is not possible; for example, if you are concerned with just one single major customer, or have a customer that is already in financial distress. You can sleep better knowing that you can protect your most significant credit exposures… Read more »