From the initial customer order until the final payment is received, our Accounts Receivable (AR) solution automate the entire process. With documentation ranging from purchase orders (POs), proofs of delivery, invoices, activity reports, letters and other correspondenCES in our ECM system, AR departments can utilize documents in a timelier manner to:
Send bills with supporting documents via physical mail, CD, e-mail, fax or the Web more quickly, enhancing revenue recognition
Resolve customer disputes immediately with real-time access to complete files, increasing customer satisfaction
Decrease man-hours by processing a higher volume of work in less time with automatic rules-based processing and routing
Reduce collection cycle time to decrease outstanding balance totals and increase capital
By implementing our AR ECM solution, AR departments can significantly improve the collection process. Our workflow module automatically routes documents through the appropriate steps, sending e-mail notifications and reminders to those who need to take action to even further speed up the process. The innate audit trail within the ECM system and workflow then not only proves business rules were followed to ease compliance with regulations such as SOX, but it also provides insight into process timing and identifies possible bottlenecks.
Relevant documents, whether they are scanned images, documents that have been processed in using COLD/ERM or from a seamlessly integrated third-party application, can be included in the billing package generated using our Report Management module. By incorporating supporting documentation, bills can be more accurate and are subject to less controversy.
If a dispute does arise, our ECM solutions can also improve dispute resolution where necessary. Using the workflow module, customer service representatives will have all relevant documents in a single interface. With documents at hand, they can resolve disputes while on the phone, reducing both callbacks and day sales outstanding. Should a dispute escalate, online collaboration allows organizations to create a space for multiple parties to interact, provide feedback, share documents and conduct Web-based conferenCES with individuals outside of an organization.