The Receivables Management module brings together all processes, from invoicing through to cash-flow.
This is about control of allocations to accounts, invoices, booking of credit notes and payments, collection of funds at the bank, and running of credit-card transactions; it also concerns itself with balancing out of transactions, clearing of transactions, payout, automatic dunning, and takeover of payment-collection. Manual corrections are possible at every stage. Due to the fully-integrated information on each customer account, customer service is in a very strong position to provide key information.
Payment Service Providers (e.g. klarna or PayPal) and banks can be integrated into this, depending on company requirements.
Automatic processes are a major help when it comes to secure administration of receivables, providing an easy overview. Accordingly, key steps in this function include automatic booking, automatic release of supply for orders paid-for in advance, and both manual and automatic clearing of transactions. At this stage it is also possible to automatically book-out very small sums or ‘orphaned‘ dunning charges.
To handle the payment transactions, interacting with banks and service providers, users of our software can process payment files, bank statements and statements of accounts in a variety of formats (camt.054, VESR, MT940, camt.053, CODA, PayPal Settlement, EPA wirecard, EPA ConCardis). The automatic interpreter of e-mail subject-headings achieves a high level of automatic allocations, based on the customer information about payments. Repayments on credit cards, service-provider accounts and bank accounts can be activated and implemented, via the interfaces to payment-service providers and banks. The credit limit is adapted automatically, on the basis of payment behaviour.
Dunning and payment-collection management
Configurable dunning stages; dunning letters from 360e-procedure administration; as well as blocking specified actions, with time limits set, due to payment reminders (e.g. in the case of applications for further queries, or clarification cases); all this helps when organising activity sequences. Interfaces for automatic or manual passing-on of receivables to payment-collection agencies form part of this; another part is an interface via which the statements of accounts for incoming payments, and the concluding reports from the payment-collection procedure, are automatically reintroduced to the system.