One of the most important basic business concepts that all successful organizations understand is the importance of cash flow management. Your ability to meet your financial obligations depends on it, and without it you can’t acquire inventory, meet payroll, or simply stated, run your company.
Today’s accounts receivable departments face challenges surrounding the management of diverse forms of information they are required to handle. This might include invoices and statements generated from a core accounting system, emails, notes, and written correspondence related to customer service and collection activities, and many others including voice messages and chat. Without easy access to all this information customer service reps and collection clerks can’t effectively do their jobs. This can cause DSO (days sales outstanding) counts to creep and subsequently cash flow to slow.
The question becomes how to easily and cost effectively gather all of this diverse content and make it readily available to the user who needs it to do their jobs? The FileBound Enterprise Document Management Solution was designed to accept and manage these diverse forms of content. Within the Document Management framework of FileBound invoices and statements can be imported from the accounting system. Related documents can be added later, such as emails, written correspondence, and notes to provide complete documentation of a transaction and to ensure that the accounts receivable process runs smoothly.
The FileBound Enterprise Document Management Solution provides easy access to the right information to ensure that the accounts receivable process runs smoothly and the cash keeps flowing.
Accounts receivable documents that can be managed by FileBound include:
Contact our team today to discuss your needs and discover how our solutions could deliver big benefits to your organisation.