coAction Receivables Management provides an advanced platform that allows you to dramatically improve your order-to-cash process. Receivables Management combines the best of collection processes, customer collaboration and automation to manage collections-related activities and improve DSO.
Process based Collection Management
For too long, collections and receivables departments have been using vanilla software systems to manage collections. Even with the best of collection process and strategies in place, the rigid and inflexible software environments used by many collections departments lack the breadth and depth of functionality needed in today’s real time world. The lack of advanced collection management software has led to inadequate management of business workflow, more paper than needed floating around, lack of auditing & history and patch work systems based on spread sheets.
coAction.com interfaces with your accounts receivable system. Employees can pull specific pieces of account data such as balance owed and notes on the account directly from multiple databases using drag and drop technology. Workloads can be prioritized by user-defined categories and other criteria that direct data flows and tasks to the appropriate employee or manager. coAction.com is focused on ways to boost end-user productivity. coAction.com integrates collections software with power dialers and call centers to more effectively manage inbound and outbound calls.
Simple to Use. Boost Productivity
coAction.com makes it easier for collections personnel to exchange information with credit grantors, account executives, sales teams and managers via the Web, receive debtor payments via the Internet, and boost employee productivity. The platform uses analytical expertise, reporting, and data mining tools to understand and interpret customer behavior and key trends that change customer behavior. coAction.com uses the most predictive combination of models to measure risk, response, revenue or any other objective that is to be measured.
Effective receivables management consists of engaging your customers through targeted communication processes, classifying account responses at each stage, and offering solutions at each level. Each account & transaction is different, requiring different methods and levels of collection, effective use of which reduces the time for collecting receivables.
coAction’s receivables platform aids in effective collection of receivables on due-date through defining and automating collections life-cycles, account/transaction prioritization, contact management, establishing follow-up procedures and intelligent analysis and reporting. Following consistent and timely collection strategies with the coAction platform ensures key issues are pro-actively addressed before the due-date & achieve a high rate for cash conversion.
Key Strategy Elements