Stay proactive in your receivables process with Quadient
Use Cases and Deployment Scope
This is the 2nd company I have brought the Quadient AR tool to. The AR module is a savvy way to manage accounts receivable workflows and customize them to customer preferences. We use it for all of our accounts, many is individually customized ways to provide access to the customers invoices, statements and payment activity in their own time. The tool is especially helpful to our international customers who use the self serve portal on their side without the need of waiting for my team on the PAC NW coast to respond to them. Moving our AR to the Quadient portal drastically changed our ability to receive on time payment and shaved our DSO metrics in half after just 120 days of use.
Pros
- Self serve and easy access to customer documents
- provides a full audit of all collection notes for any invoice in a single repository of data
- Allows your collection team to become more proactive on issues than reactive - the automated services Quadient offers remove a lot of the manual human tasks
Cons
- Workflows are not set up to easily choose different billing contact choices (invoice, inquiry statements to different aliases)
- Cash forecasting graphics are unhelpful and can be refined
- DSO calculation is set at 365 day average only - there are no options to view DSO averages by collector or 90 days averages
Return on Investment
- DSO reduction by 50%
- Made our 150+ days aging nearly non existent
- Write offs drastically reduced - more than 70%
Alternatives Considered
Tesorio and NetSuite ERP
Other Software Used
NetSuite ERP, ContractWorks, An Onit Product, Thomson Reuters ONESOURCE
