Testimonial

France and Southern European countries require Draft Management as part of their day-to-day
cash processing to handle BOR/LCR. A BOR (Bill of Exchange) or LCR (Lettre de Charge
Acceptee or Accepted Bill of Exchange) are both essentially a promise to pay a certain amount
on a certain day in the future, comparable to a post-dated check.

Cashbook’s AR Draft Management module allows users to create AR drafts in Cashbook, modify
the evolution of the draft’s status (a key feature of drafts), and send draft files in electronic
format directly to the bank (similar to sending an electronic credit or debit file to the bank). The
solution was designed for pan-European corporations to replace local country solutions, thereby
facilitating the adoption of a common platform, data and process model across the business and
ensuring continuity in corporate software systems solutions.

Features:

This Cashbook Drafts module is fully integrated with the company’s ERP system. Creation of
drafts is driven directly from the AR data in the ERP. The module permits:

Storing of bank account information by customer including IBAN information and SWIFT
codes and email addresses.
draft amendments
formatting of drafts
transmitting an electronic draft to the bank
printing and/or emailing of drafts
receiving completed transactions on the bank statement

Drafts can be easily tracked through multiple status levels to maturity. Appropriate
accounting entries are made to the ERP system at each status point, including the ability to
reverse or dishonour individually drafts, essentially reversing all previously posted accounting
entries and subsystem records.

This module can be integrated with any bank accepting AR drafts either manually or
electronically. It is ideally suited to European Shared Service Center operations that need to
cater for specific country requirements.

Benefits:

Greater cashflow control
Meets specific demand of French and Southern European operations through a central
platform
Replaces high-maintenance local country solutions
Provides management with visibility of Drafts Outstanding
Automates the paper-shuffling component of drafts into clearly-defined user steps
Accelerates the daily processing times needed for drafts
Eliminates keying errors

Click to zoom

AR Draft Management

The project leaders and system
implementation specialist were very
helpful and knowledgeable. Few
follow-up questions were necessary.

Judy Schreffler, Vendor Process Manager,
Dentsply International Pennsylvania, USA -
Customer since 2004