This eBook outlines the insights from Bank of America
Flexible digital dashboards & tools that are easy to implement
Automated central view of cash movement and cash concentration tools
Casey Kernan,EY
Pre-defining what success looks like post-transformation
Setting up the right SLAs and governance to hold employees accountable for the success
Julie Harris,BoFA
Access to types of payment terms offered: pre-crisis or post-crisis
Access to meaningful reporting at an executive-level
Selection of buyers as economic stress is mostly likely to continue
Kunal Bist,Citi
For CFOs and senior finance leaders, it is important to have a real-time access to data to understand how the risk behaviour of the customers are changing. With the aid of intelligent automation and technology, they are able to monitor their cash flows and financial risk alerts and proactively manage the finance & A/R operations.
HighRadius Collections Software automates and optimizes the credit & collections management process to improve collector efficiency, minimize bad debt write-offs, improve customer relationships, and reduce DSO. It provides a complete set of tools to optimize and automate the credit collections management process and enable the better prioritization of credit collections activities All the information you need (invoices, dispute information, POD, claims, tracking info, etc.) on each case is automatically presented in a collections work-space and is ready for use. Apart from the wide variety of benefits that it has, it also comes with some amazing features like CADE (Collection Agency Data Exchange), collector’s dashboard which has prioritized collections worklist, automated dunning & correspondence, dispute management, centralized tracking of notes, call logs & payment commitments along with cash forecasting functionalities. The result is a more efficient collections team that contributes to enhanced cash flow and reduced DSO.