Accounts Receivables Lean Six Sigma
Cforia Software provides robust visibility and collaboration that
will ensure that your Accounts Receivable Department supports
corporate quality initiatives.
Accounts Receivables Management is a customer facingactivity that maximizes contact in order to successfully achieve
its primary mission of driving improvements in metrics such as
DSO and DDO. Front line collection employees often uncover
customer problems that have been caused elsewhere within
the company.
Auto Cash Application processing codes customer chargebacks
and disputes that stem from other areas of the company.
Chargebacks and Disputes follow up by deductions analysts
is chartered with finding inappropriate deductions that can be
recovered and identification of root causes for avoidable
deductions.
Lean Working Capital by improving AR department productivity
to speed up the order-to-cash cycle and reduce chargeback
revenue slippage. Increase the number of outbound daily collection
calls. Prioritize the calls to focus on collection activities that will
maximize cash follow. Aggressive follow up to deductions throughout
your company to recover inappropriate chargebacks and avoid future
occurrences of quality related adjustments.
Facilitate Collaboration between your internal AR employees, other company stake holders, brokers and your customers.
These problems must be quickly and seamlessly communicated and escalated to the correct area of your company.
Maintain Accountability to assure that outside stake holders provide feedback to AR department chargeback and dispute
inquiries in a timely manner. Use a database driven approach that prevents outside department follow items from falling into
the cracks.
Robust Reporting provides root-cause analysis of deductions that will help change processes to avoid recurrence.
- Build a case that explains the financial implications for a current process that needs to be improved.
- Avoid anecdotal appeals that are easily dismissed.
- Maintains audit history of requests for issue collaboration and resulting response or lack of response.
Features:
- Works with any ERP system including SAP, Oracle, Baan, Lawson, PeopleSoft, JD Edwards, BPCS and MAPICS.
- Real-Time data access promotes seamless collaboration.
- Provide visibility into broken processes that need to be improved..
- Create an audit trail. Track collaboration history and responses.
- Code, collaborate and perform root-cause analysis on Chargebacks.
- Avoid manual spreadsheets and email.
- Increase follow up with both internal and external employees.
- Increase profitability by decreasing chargebacks through recovery and avoidance.
- Decrease expenses through recovery of unearned chargebacks.
- Improve customer satisfaction through collaboration that facilitates timely problem resolution.
- Facilitate lean six sigma quality improvement processes through root-cause analysis.
- Support product quality and quality of service initiatives..
Click on this link to replay a webinar to learn about how to increase chargeback interdepartmental collaboration.
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