Notes

There are always disputes arising in the collections field and to handle those disputes inter-departmental interaction is required.

Manual Process:
1. Equal focus on both large and small customers although large customers account for most of the business.
2. Manual Correspondence from different sources causes issues in tracking and planning the execution of the collections process.
3. Handling disputes is a long and manual process.
4. Analysts manually need to update payment status, worklist, save payment commitments, etc.

Automated Process:
1. Prioritized collections worklist
2. Automated Correspondence
3. Centralized tracking of all payment commitments, tasks, and correspondence notes for customers.
3. A dispute Management system which captures invoice disputes, create and share pre-deduction information, and initiate workflows for dispute resolution
4. Cash Forecasting system which predicts cash flow based on payment behavior and commitments.
5. Automated Invoice payment status updating system which pulls customer-posted invoice information automatically from customer portals and other related websites to refresh the worklist, save commitments and save time lost in dunning on invoices where payment has been made.