Real-time monitoring of due payments and cash collection management system
View and manage your AR easily
Reduce human error in entries
Get the needed reports in minutes
Problem
Cash collection is something every company has to deal with in one form or another. It’s imperative that this process is as streamlined as possible to minimize time spent and improve workflow efficiency. Well, initially, this wasn’t the case for a client of ours, which was using Excel files for their whole process. This extended the length of every task they had within those spreadsheets and was prone to human error due to the number of manual inputs they had to make. Our client realized that this current setup was costing them too much time and wanted to make a change towards a more efficient and user-friendly solution.
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Solution
Our analytics solution collected all the data available in our client’s ERP system and provided them with a clear view of all payments, in due or otherwise. Furthermore, they could classify payments by due period and manage their cash flow. With our solution, our client could get a management view of the whole data, presenting closed sales vs. unpaid invoices. In about 10 seconds, they could choose a client and see if they have any outstanding payments. Additionally, with our dashboard’s “as of” function, our client could pick a past date and observe what the situation was like as of that moment in time, which helped deal with disputes and claims.
Success
With this solution, our client could finally streamline their cash collection process. It used to take them days to compile a full report with all the needed details, while with the help of our dashboard, this time was reduced to mere minutes. Coupled with the fact that the automatic data gathering reduces the chance for human error, this frees up a lot of valuable time that can be spent on more crucial tasks. Additionally, the easy-to-use interface helps with that endeavor and allows for quick and seamless examinations of the current and upcoming cash flow.
