Turn your collections into cash flow
Microsoft Dynamics NAV Collections Management helps users track and collect overdue accounts and manage the collection process more effectively than they could using any existing procedures.
- Reduction in Accounts Receivable balances.
- Notes and promise to pay date tracking
- Assignment of collection responsibility to named individuals within your firm.
- Comprehensive management oversight functions.
- Define exceptions such as number of days late or partial payments.
- Instant identification of overdue and exception invoices.
- Let the software automatically classify your customers based on their payment promptness.
- Manage each classification with the appropriate level of assertiveness.
- Utilization of built-in Contact Manager to track and resolve each overdue invoice.
Three key elements to The Collections Management Solution:
- The Exception List displays all invoices currently assigned to an individual Collection Representative or workgroup. In addition the Exception List can be used by managers to monitor and control the collection process.
- The Exception Manager tracks the contact history for each invoice providing users with all of the functionality and information they would expect from a contact manager and then some, such as quick re-printing or emailing of invoices and statements.
- User definable Trigger Points (Due Date + X Days) when an invoice will be transferred to a Collection Representative’s Exception List. Optionally let trigger points be assigned automatically based on the payment promptness of the customers so timely paying customers are not offended and late paying customers are followed up on more quickly, and in some cases in advance of the due date for an extraordinary large balance.
This Microsoft Dynamics NAV solution allows you to generate significant cash flows by helping to reduce your days outstanding in payables. It is a specialized contact management system, built into your NAV implementation and tailored to prioritize and streamline collection of overdue accounts. By scheduling and prompting calls based upon your criteria and last call entries, accounts can be assigned to individuals or teams for follow-up.
Cash Management provides an efficient means of tracking bank accounts, checks, transfers and other monetary related transactions.
Cash Management allows you to:
- Manage an unlimited number of bank accounts
- Transfer between bank accounts
- Automate and control the entire check-writing process
- Generate checks with a unique number series for each bank account
- Print checks or process checks manually or electronically
- Export electronic payments to financial institutions
- Reconcile all bank accounts with account statements issued by bank