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Accounts Receivable Management Software | Anytime Collect 2014
This document promotes an automated accounts receivable (A/R) management and collections solution. It summarizes that accounts receivable is typically one of the largest assets for most businesses but collecting on invoices manually is inefficient. The solution claims to help businesses get paid faster by converting A/R to cash quicker through automated email and phone collections, dispute management, and online customer bill pay. This can help reduce days sales outstanding by 10-20 days on average and save businesses up to $40,000 annually in written-off invoices and finance costs for borrowed working capital.
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Accounts Receivable Management Software | Anytime Collect 2014
- 1. There’s A BetterWay To Get Paid Faster
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- 5. Designed for YourIndustry Distribution Construction Real Estate Manufacturing Business Services Municipalities IT Services / MSP Utilities Computer Software Transportation Legal Logistics Services Retail, Rental Hospitality Non-Profit Membership Medical Healthcare Ag, Forestry Fishing, Mining Advertising Media Finance Insurance …and many other industry solutions
- 6. A/R Working Capital AccountsReceivable is typically the largest or second largest asset for most businesses Convert A/R to cash faster and increase cash flow and improve access to working capital.
- 7. The longer aninvoice goes unpaid… …the less likely that it will ever be paid. – 26% of invoices 3 months old are uncollectable – 70% of invoices 6 months old are uncollectable – 90% of invoices 12 months old are uncollectable
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- 9. Manual vs. AutomatedCollections
- 10. Average Days Sales Outstandingis 61 Days But Average payment terms are 28 days Companies Using CCM Systems Reduce DSO by 10 to 20%. That’s an average of 9 Days
- 11. On average, businesseswrite-off 4% of Accounts Receivable • That’s $400,000 for a $10 million company. • A 10% improvement results in a $40,000 annual savings.
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- 15. Accounting / ERPDatabase Cloud or Premise Scheduled Data Synchronization Microsoft SQL Server On-Premise Installation Website Log-In Access from Any Browser Microsoft SQL Azure Hosted SaaS DB
- 16. RULES ENGINE Invoice A -Open withBalance Due -30 Day Terms -Created 28 Days Ago -Due in 2 Days Invoice B -Open with Balance Due -45 Day Terms -Created 43 Days Ago -Due in 2 Days
- 17. Major Features Automated Email Dispute Management Mail Merge Templates Cash Forecasting Prioritized CallLists Online Customer Payments Centralized Information Business Intelligence
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- 27. Learn More Adam Lynch QuickBooks& Midmarket ERP alynch@e2btek.com 440.352.4700 x222 Bill Baker Enterprise ERP & OEM Partnerships bbaker@e2btek.com 440.352.4700 x241 www.anytimecollect.com
Editor's Notes
- #4 Cash flow is critical to every business
- #5 Businesses today are facing an accounts receivable crisis unlike anything they’ve seen before.But most of them don’t realize the problem and fewer yet do anything about it.
- #6 It doesn’t matter if you’re a distributor or manufacturer selling productsOr a construction company or a computer software company managing jobs and projectsA transportation and logisticscompany providing shipping or freight servicesOr a legal firm managing invoices for case work.Our system helps every business selling on credit terms to effectively manage their accounts receivable
- #7 Accounts receivable is one of your largest assetsAnd your single-most important source of working capital
- #8 A/R is the life blood of your business and the longer it takes to get paid – the less likely that you’ll ever be paid. In fact, 26% of invoices that age to just three months are uncollectable and the chances of getting paid on older invoices diminishes significantly after 6 months.
- #9 But how do you manage A/R today?If you’re like most businesses you rely on disconnected systems with data in your personal email inbox, your accounting software, and other disconnected applications like Excel or CRM.And you rely on out-dated aging reports and a variety pack of highlighters to understand what you need to do and what’s already been done.
- #10 You spend a lot of time printing and sending invoices manually and it takes a long time to prepare for collection callsLeaving you with very little time to talk to your customers to resolve payment issues
- #11 And the end result is that your customers are paying you 60 days on 30 day credit terms
- #12 And you’re probably writing off 4% of your accounts receivable to bad debt.That may not sound too bad but that’s $400,000 for a $10 million company.What could you do if you could reduce bad debt by just 10% annually?
- #13 And you pay high interest rates to borrow money to make payroll or to cover operating expenses when cash is tight
- #14 There’s a better way.
- #15 Our system automates the accounts receivable process.It puts your A/R collections on auto-pilotStreamlining the entire process so you get paid faster
- #16 We synchronize data from your accounting or ERP business system based on a schedule that you defineThe data is stored in a SQL database either on your server or on Microsoft’s secure Azure cloudAnd the information is accessible to you anytime and anywhere via a secure web browser
- #17 Behind the scenes is a powerful rules engine that analyzes account and invoice information so you don’t have to guess what to do, when, or why.For example, Invoice A has 30-Day terms and was created 28 Days ago. It’s due in 2 days. Invoice B has 45 Day terms and was created 43 Days ago. It’s also due in 2 days. Both invoices have an open balance due. The rules engine sees this and sends both customers a friendly reminder letter.And it can evaluate thousands of invoices in a matter of seconds.
- #18 The software helps you manage every aspect of your accounts receivable
- #19 It includes business intelligence, dashboards, and reports to help you understand what’s happening with your A/R and collections efforts.
- #20 It helps you manage accounts and contacts
- #21 It tracks every customer communication with intuitive icons to help you quickly identify what’s happening.
- #22 It includes email and report templates to automate communication with your customers.
- #23 It allows you to effectively log phone calls, send or receive emails, and manage attachments and activities all in one place.
- #24 And your customers can even pay you online via a secured customer online payment portal.
- #25 Automated credit and collections management will save you a whole lot of money.
- #26 And what can you do with all the money you’ll save?You could offer more competitive pricingOr reinvest in your businessOr reward your team with a bonus
- #27 Or take that dream vacation you’ve been putting off for years