Pain Sheet 0004
Genesys » Customer Experience » Pain Sheet 0004
Job Title / Industry: Credit Control Manager / High Volume Retail Credit Sales Critical Issue: Application of high transaction volume bank payment records, to customer accounts. Reasons: - The increase in number of transactions meant manual application was now impossible.
- There were a large number of unmatched transactions which required much manual intervention and investigation.
- Inability to determine aged debt and cash flow on a weekly basis.
Capabilities Needed: Upload electronic bank statements. Identify and apply cash receipts to invoices, where reference numbers matched. Provide a list of unmatched receipts with a best guess of the likely invoice based on multiple clues, eg, if the surname on a payment sounded like a surname on an invoice, or if the address was almost correct. What we provided: The capability to achieve the above. Weightings given to likely invoices for each payment based on multiple criteria. Result: - 90% automatic applications.
- List with likely invoices provided to customer service for investigation. Staff use this list to narrow down the likely invoices which are checked manually to find a match.
- Nil unmatched receipts at month end.
- Accurate and timely cash projections.
- 80% improvement in debt ageing.
Genesys are a Microsoft Certified Business Solutions Partner that helps stabilise evolving companies - We have a single business focus - create organisational room through implementing, supporting and developing for Microsoft Dynamics GP. |
