Credit And Collection Management

Credit & Collections Management Solution enables organisations to improve collector efficiency, reduce DSO’s and streamline the credit and collections business process.

MC2 is a repository for all credit-related information which is integrated real time with your ERP system. It provides analytical tools to automate and add significant value to many Credit & Collections processes:

Order Hold & Release Management:
Credit checking capability within an ERP order entry system can sometimes be limited. The MC2 solution ensures that a greater volume of orders automatically flow through the system, and where a customer goes on hold, the release process is directly linked to a promise to pay. This removes the non value added tasks of manually reviewing, holding and releasing orders for AR collection analysts.

Credit Management:
The MC2 solution offers a central repository for all customer related information which is the key to effective credit management decisions. MC2 has the ability of importing credit history real time from external sources like D&B, Experian and Equifax, tracking payment trends of customers, assessing and automatically assigning credit risk to customers. Alert flags are then used to ensure that the collection time is spent managing the right customers to reduce DSO’s. Credit Limits can be set within a specific approval hierarchy in MC2 and updated automatically in your ERP system.

Collections Management:
As collections departments have evolved, manual based processes have given way to more automated solutions, however various manual tools and reports still exist and work independently of each other all reusing the same source data. In the day to day collections process examples of these manual processes are for example typing AR data on letters for customers, printing hard copy ageing reports from ERP system, manually faxing hard copy information to customers. MC2 integrates with the source data real time enabling all detailed AR information to be readily available for automatic emails, auto fax, and auto reminder/dunning letters without having to retype data or copy and paste from various sources. All customer contact data is also held in the central MC2 repository and can be accesses by all external applications namely, fax, email or automatic letter creation.

MC2 allows the AR collector the ability to record, track and automatically assign actions items to various stakeholders (Order management, Sales Reps, Deduction Analysts), ensuring all queries are dealt with in a timely and proactive way thus maximizing the cash collections process.

Features

Benefits

• Reduction in DSO
• Proactively manage at-risk customers to mitigate bad debt exposure
• Leverages existing IT infrastructure by building on existing corporate accounting systems
• Minimal IT support to install and maintain the product
• Eliminates manual and needless tasks
• Enables accurate Cash Forecasting of cash flows and liquidity enabling strategic management of investments
• Greater collaboration and access to AR information between AR & Sales personnel via the use of a sales portal