Finance

Finance

Accounts Receivable

Business Goals

  • Reduces Days Sales Outstanding

  • Lowers collection costs

  • Increases Lockbox visibility

  • Improved customer relations

Enterprise Resource Planning (ERP) solutions offer core financial functionality on their own, but they do not offer tools to automate financial relationships with customers and vendors. The Open Text solutions for Accounts Receivable revolve around financial relationships with your customers. The Accounts Receivable collection process is the most important one, since debt collection is typically a tedious and time-consuming, paper-driven process involving many documents.

With Open Text solutions for A/R activities, you can reduce your Days Sales Outstanding through simpler dispute management by having all relevant documents at hand. Electronic Bill Presentment gives your customers self-service opportunities and lowers collection costs. Customer Master Data Management enhances your data creation process and data accuracy.  The Lockbox solution improves the visibility of your organization’s lockbox with the benefits of document imaging.

Open Text solutions deliver this functionality with the following components:

Supplemented by Business Content (e.g., predefined workflows) to give you a head-start in configuring workstreams and processes, Consulting Services, Training and Support tailored to meet your requirements.


Activities

Accounts Receivable involves Cash Application, Dispute Management and Electronic Bill Presentment.

  • Cash Application

    The Open Text Lockbox solution improves the visibility of your organization’s l

    lockbox with the benefits of document imaging. The solution:

    • Links associated documents with a check in the lockbox for easier processing

    • Imaging increases process monitoring throughout the processing in the lockbox

    • Tracks the status of checks in your lockbox and enables better monitoring

    • Integrates in SAP solutions


  • Dispute Management

    Your Accounts Receivable department is the point in your organization where sales become revenue. Debt collection is very tedious and time-consuming, being a paper-driven process involving purchase orders, delivery notes, proofs of delivery, invoices, activity reports, dunning letters, correspondence and more. Our solution for A/R is integrated in your SAP infrastructure. Your employees are empowered with the information and tools they need to more effectively and efficiently collect payments. Your employees can access all information and documents to find answers quickly and easily, address the proper contacts, and make the right decisions at the right time to accelerate your debt collection.

    The Open Text solution will:

    • Reduce Days Sales Outstanding

    • Reduce bad debt write offs

    • Increase the efficiency of the debt collection process

    • Lower risks with regulatory compliance and litigation


    Solution Adaptations: Business Process Management, Document Management & Collaboration Project Management

    • ,

  • Electronic Bill Presentment

    In recent years, the Internet has changed the way customers and the billing companies interact –  replacing paper billing and check payment processes with electronic communication. Vendors, and customers who send and receive large numbers of bills and payments, will benefit the most from using Electronic Bill Presentment.

    The Open Text solution saves your organization time and money by:

    • Replacing paper invoices

    • Reducing postage costs to mail invoices

    • Increasing cash flow through faster payments

    • Lowering bad debt factors by receiving payment prior to shipment

    • Lowering collection costs through improved payment processing

    • Creating potential incentive discounts offered to participate in the process

Key Performance Indicators

Days Sales Outstanding

Collection costs

Customer Relation

How can we help?