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 must-haves, nice-to-haves, and not-that-important features.
In this age, it doesn’t make sense to consider installing client server systems — that is, installing an “in-house” system. With cloud applications readily available, implementing a SaaS system, which requires no software, hardware or installation, will include data linkage throughout various financial systems. With SaaS software, outside sales people, business partners, and even customers can have easy access to the same information to collaborate or participate in problem solving and accounts receivable management.
The deduction management system you use should start with proper management of cash application services, and has to be intuitive. Your challenge is to find a combination of capability and streamlined simplicity in one system — Carixa™ is the answer.
Benefits of Using Carixa
By selecting the Carixa deductions management software, you will see:
- Deductions Prevention
Active root-cause identification so you can prevent errors and disputes upstream in the order cycle that will eliminate systemic, preventable deductions.
- Automated Deduction Management
Categorize, assign ownership, escalate, and track deductions to resolution using workflow that enables cross-departmental collaboration.
- Deduction – Credit Memo Resolution
Automated research tools for reconciling deductions vs. credit memo, RMA and returns receiving data, even down to the SKU (line item) level so you can reconcile returns variances with one click instead of a spreadsheet and hours of work.
- Real-Time Reporting and Analytics
Analyze the causes of deductions, and use this new insight to drive continuous process improvements, and department staff performance monitoring and management.
- Increased Recoveries
Collections of excessive or incorrect deductions with proper documentation backup and workflow that manages the recovery process.
- Increase in corporate profits and cash flow…
Through much better performance and reduced overhead.
- Proper accounting and audit trails…
That enable you to account for and justify deductions and trade promotions so you do not run afoul of Sarbanes-Oxley or FTC violations.
- Substantial Overhead Reductions
Lastly, with an automated system driven by management-directed workflows and escalations, along with the qualitative improvement in results, you will see significant reduction in the labor required for this function. You will be able to do more with fewer people.
Contact us today for more information!