Many suppliers today struggle with manual collections-related tasks. From reviewing aging reports and determining contacts to initiating communication, tasks can quickly pile up without a collection software. Supplier growth doesn’t always translate into AR team resource growth, so it’s essential to stay on top of collections processes.
The Collections Cloud creates an improved process by automating the creation of worklists for collections team members, assisting in the creation of correspondence and providing a single source for tracking call logs, buyer payment commitments and dispute management. Plus, a robust library of reporting uses real-time collections metrics to provide your team oversight into activities, results and even cash forecasting.
Reduce days sales outstanding (DSO)
Boost team efficiency and value-add activities
Minimize write-offs for delinquent AR
Improve customer relationships
Automatically design worklists focused on efficiency, results and time savings for your team.
Simplify correspondence with configured templates and simple invoice/payment instruction distribution.
Gain access to customer activity trends, teammate notes, call logs and payment commitments all in one place.
Get clear visibility into your collections process and activity by viewing on-demand or scheduled reports, detailing aging, payment trends, your team’s activity and more.
Each day your enterprise resource planning (ERP) system shares customer AR information with Collections Cloud, our industry-leading collection management software. The Collections Cloud reviews aging tables and payment trends to create a prioritized worklist for your business’ collections team. The Collections Cloud can complete automated correspondence, log calls and notes, track payment commitments and manage reminders to follow-up with buyers.