A business entity may be involved in sale of services or goods as a business activity. The customers buy these services or goods from the company and pay the agreed price for that service or product. Now, there are various options for payment that a company may offer to its customers. It may receive cash or wired transfer from its customers and in some cases, the company may offer its services or goods to selected customers on credit. Accounts receivable refers to the outstanding invoices a company has or the money the customers owe to the company for the services or goods sold. Many companies try to increase their revenues by allowing some percentage of the total annual sales to be on credit. A business has to offer this type of credit line to frequent or special customers who are invoiced periodically. This credit line also helps the customers to avoid the hassle of physically making payments every time a transaction is made.
Corpseed Accounts Receivable Automation System To Save Cost to Operate
Corpseed AR automated system is a software program that tracks and helps with the function of accounts receivables. The AR automation starts with an invoice, this invoice is auto uploaded to the system, where the workflow management system captures it and turns it into a workflow task. When the invoice is paid in full, the system will mark the task as closed. If it is still open, regular notifications will be sent both to the customer and to AR clerks when it’s time to make contact or when a bill is officially late. Depending on the age of the invoice, the accounts receivable software will start carrying out certain tasks until payment is received. The algorithm for AR system is developed to email the customer informing them about payment due date or if the payment is late. Later the task is routed to an AR clerk, who can start making follow-up calls to get a status on the payment. Then the second late notice is emailed to the customer. After a certain period of time, the task is officially escalated to recovery and collections department, depending on predefined procedure for handling delinquent payments. Any replies to payment reminders are automatically directed to a designated mailbox for AR issues and a clerk may drag and drop the email into the system workflow for tracking purposes.
Salient Features of Corpseed Accounts Receivable (AR) Automation System
Accounts Receivable Client Dashboard
A client dashboard is a general ledger of all the customers of a company which contains all the important details and custom configuration options for the user to make collections process faster and easily manageable. It allows the top management to track the status of invoices whether paid, pending, disputed, etc. and to identify the top paying clients at one glance.
Accounts Receivable Automated Invoice Reminders
The considerable time that an employee wastes in the identification of pending invoices and sending reminders for the same to the respective clients can be saved with the help of advanced invoice reminders feature of our Accounts Receivable Software. Automated invoice reminders provide a business owner to take his mind off the collections process and still enjoy an improved cash flow. This nifty feature automatically creates a list of the pending invoices and sends reminders to the clients as per the parameters set by you.
Accounts Receivable Aged Listing
The aged listing feature of Accounts Receivable Software allows a user to organize all his accounts based on the payable dates and client names. This makes the invoicing and collections smoother and simpler.
Accounts Receivable Centralized Database
The business data is very important for a company and must be protected at all costs because a single missing invoice can make a huge dent in your cash flow. Our Accounts Receivable Software is a cloud-based accounts receivable system which stores all the data in a secure cloud server, this data can be retrieved if an in house storage gets corrupted. Also a traveling employee can access this data from anywhere, anytime.
Accounts Receivable Dispute Management
The dispute management module of our AR software provides a dedicated communication channel between you and your customers so that any information could be shared, the claims by clients could be quickly verified to arrive at a win-win dispute handling mechanism.
Benefits of Corpseed Accounts Receivable (AR) Automation Software
Corpseed AR Automation Software reduces the costs associated with order processing through data capture automation
At Corpseed, we are committed to offer our services to the entrepreneurs and businesses as a very cost-effective proposition. We believe that a customer is always right and the focus of any business activity should be to serve the customer with utmost loyalty. All our services come with SLAs (Service Level Agreements) for on-time service delivery and money back guarantee to ensure high level of customer satisfaction.
At Corpseed, our valued customers are always kept in the loop as far as service delivery timeline is concerned and we inform our customers every time a milestone is achieved during each stage of service request processing. But we also believe that we may come across a customer who is not satisfied with our efforts. For that we have a very responsive Customer Care Department which work 24x7 to attend to and solve customer complaints. We also have a money back guarantee for those, who want their service charges to be refunded.
At Corpseed, We believe it is our responsibility to protect our customer information from unauthorized access. We have put systems and processes in place to make sure that the customer information is safe with us during its storage and transfer between in house and third party servers. We continuously test our systems and processes for security breach and vulnerabilities are identified and fixed at a regular basis.
If a customer is not satisfied with the service we provided and if he contacts our customer care helpline and files a formal complaint within 15 days of service delivery date, Corpseed would refund the entire or partial amount of Professional Fee charged for that particular service.
If a customer is having issues with our service delivery process, he has various alternatives available at his disposal to register his grievance with us. He can either email his complaint at email@example.com or he can call our 24x7 Customer Care Helpline. Also, any customer is always welcome to visit our office to lodge a complaint with the senior management.
A customer can buy our services directly from our online platform, for which he need to make online payment. Once he clicks on "Apply Now", a new window will open, a customer is required to submit the information in the respective fields and click "Make Payment". A unique ticket number will be auto generated, the customer need to quote this number as reference for any enquiry regarding his service request.
All the monetary transactions performed on Corpseed online platform are secured with SSL System Protocol. We encrypt the customer information such as credit card and bank account details, before these are transmitted anywhere. We adhere to PCI DSS for data security standards for payment processing.
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