AR Management and Credit Collections Software
Watch this short overview of the features in Collect-IT software. Collect-IT is accounts receivable and credit collections software that helps you manage AR more effectively and collect on customer invoices so you get paid faster. It reduces the AR collections cycle with features like automated workflow, programmed messages, detailed task lists, and calendar management.
Collect-IT Overview - AR Credit Collections Software
Collect-IT, by Dynavistics, is an accounts receivable and collections management software that is designed to help you get paid faster and answer the question, “Where is my money?”
So, why is this important to you?
Profitable businesses can go bankrupt. Just because your income statement shows a profit, your company can still be at risk. If you wait until 90 days to start collecting, you have already lost 26% of your receivables. After nine months, 90% of invoices are uncollectible. So good collections management is crucial.
So, why is it so hard to collect receivables and ensure a positive cashflow?
Most ERP’s can't answer the questions:
In many cases, collectors don't have repeatable processes, so collection efforts are more reactive than proactive. There's no easy way for them to stay on top of what next steps should be taken and when correspondence has to be created and manually sent for each touch point. Management has no visibility into what actions have been taken to attempt to collect or how much effort has been made. These problems lead to excessive cost and bad debt.
How does Collect-IT help?
The end result is reduced costs, increased cash flow, and less bad debt.
These screenshots give you an idea of how it works. Users can view their tasks in a list or calendar view, so they know which action items need to be taken. A dashboard view with drill down provides accurate, real-time information on collection status.
We hope you found this presentation interesting, and if you would like to know more, please review the information on Dynavistics.com and schedule your free demonstration today.