Accounts Receivable
One of the most important basic business concepts that all successful organizations understand is how important cash flow management is. Your ability to meet your financial obligations depends on it. Without cash availability you can’t acquire inventory, meet payroll, or more simply stated — you can’t run your company. Therefore it is crucial to properly manage your accounts receivable.
Today’s accounts receivable departments face challenges surrounding the management of all the diverse forms of information they are required to handle. This might include invoices and statements generated from a core accounting system. It might include emails, notes, and written correspondence related to customer service and collection activities. Without easy access to all this information customer service reps and collection clerks can’t effectively do their jobs. Therefore, this can cause DSO (days sales outstanding) counts to creep and subsequently cash flow to slow.
So how do you easily and cost effectively gather all of this diverse content and make it readily available to the user who need it to do their jobs? docMgt was designed to accept and manage these diverse forms of content. Within the Document Management framework, invoice and statements can be imported directly. Other related documents can be added later such as emails, written correspondence, and notes to provide complete documentation of a transaction. This ensures that the accounts receivable process runs smoothly.
The docMgt provides easy access to the right information to ensure that the accounts receivable process runs smoothly and the cash keeps flowing.
Typical Accounts Receivable Documents Managed by docMgt
- Invoices
- Statements
- Correspondence
- Collection Notes
- Emails
- Digital Voice Messages
More Information
For more information about the docMgt Document Management features, view our Document Management page.