Cash Management Application
Overview
Cash Application is the single most important step in managing customer
payment exceptions. Early detection, accurate identification, effective
coding, dynamic dissemination to the appropriate owner and continuous
tracking are key to increasing recovery rates and reducing time to
resolution.
Cash Application accuracy and turnaround directly impact customer
satisfaction, Days Sales Outstanding, collector productivity, and
financial reporting integrity. The maturity of upstream processes
(Customer Management, Contract Management, Order Management, Shipping
and Distribution) dictates the magnitude of collection issues and
deduction volumes. It is the efficiency of your Cash Application process
that determines how quickly you resolve exceptions and the rate at which
you convert invalid customer exceptions into cash.
Outsourcing Cash Application to professionals will improve cash flow by
reducing the time and effort in processing cash and efficiently managing
deductions. Integrated approach combines low-cost service centers with
proven technology to enable higher auto cash rates and automation of the
Deduction Management process.
The keys to success in Cash Management Application are:
- Technologies that drastically improve: auto-matching; issue
detection; document imaging; indexing, distribution and tracking;
and debit and credit memo workflow.
- Frequent and detailed reporting and analysis.
- Customer focus that allows performance based pricing.
Send your service requirements.
