Account Receivable Analysis
Account Receivable Analysis provides additional features and insight to expand standard AR reporting offered by Revenue Management tools of many ERP.
1. Get Net Receivable for Pharmaceutical Manufacturers, Health Clinics and others.
Receivable amounts from wholesalers need to be decreased by the amount of chargebacks, rebates and other discounts, because these amounts are deducted by wholesalers automatically. Some banks would demand manufacturers to provide the Net Receivables.
Similarly, health clinics have large receivables from insurance companies and health plans. The approval rate of these receivables is certainly below 100%, and its proper factoring is critical in knowing financial standing of the company.
2. Monitor AR Collector Performance
Big companies have several AR collector teams, run by several managers. Monitoring activities of each collector and each team in terms of both amounts collected from which aging period is critical to ensure that AR is not increases and debts don’t stale.
3. Provide AR Collectors with Instant Access to All Data
When collector is on the phone with the customer, he or she needs an instant access to all customer accounts and to all outstanding invoices. This feature is critical for AR collectors, talking to national and regional chains.
4. Produce Financial Analysis Reports
Accountants often use Excel to calculate Average Account Balances, Average Days Outstanding and other measures. AR Analysis provides this data automatically. Thus, accountants working on Revenue Management can spend less time on data preparation and more time for in-depth analysis. This feature simply helps accountants to be more efficient.
5. Extended Aging Periods
AR Analysis can expand aging periods from traditional 120+ days to 30 day or monthly periods for many more months.
These are the challenges, that Relasoft AR Analysis successfully addresses.
Here are some features and benefits: