Improving Collections Challenge:
Challenge to track status of receivables, remind customers and ensure timely collections
BiCXOSolution
- BiCXO has in-built collaboration tools where different stakeholders can update status of collections with expected timelines thus avoiding manual excel status updates.
- BiCXO tracks committed date and reminds employees responsible for collection based on commitment
- BiCXO integrates the expectation in to the cash flow projection thus driving accountability
- BiCXO sends automated reminders to customers with varying tones of emails based on days outstanding
- An integrated view of receivables with status helps management drive the collection program more effectively than before
