GPUG® Summit 2011November 8-11
Caesars Palace – Las Vegas, NV
FIN05: Collections Management Overview
Presented by: Howard SwerdloffGlobal Tower Partners
GPUG Summit 2011– Las Vegas www.gpug.com
Workshop Description
This course will provide an overview of Collections Management within Dynamics-GP. By the end of this session, you should walk away with some ideas on how to use Collections Management in your business.
GPUG Summit 2011– Las Vegas www.gpug.com
Agenda What is Collections Management Why implement Collections Management Review what you can do with Collections
Management? Daily Procedures within Collections
Management Review how Collections Management
helps you interface with your customers
GPUG Summit 2011– Las Vegas www.gpug.com
What is Collections Management?
All about Cash Flow– Lifeline of any business
A process for collecting money A tool to allow better communication with
customers regarding balances A means to quicker resolution of any
invoicing disputes should they arise
GPUG Summit 2011– Las Vegas www.gpug.com
Goals in Implementing CM
Improve Cash Flow Reduce amount of bad debt Make better credit decisions Maintain good relationship with customers Minimize workload in collecting money Maintain a consistent process for
collecting payments from customers
GPUG Summit 2011– Las Vegas www.gpug.com
What can you do with CM?
Connect customers to credit managers Maintain information about your customer’s
preferences– How do they like to be contacted– What time zone are they in
Enter Customer Notes and Tasks Send customized reminder and collection letters
via e-mail Review metrics like average sales per day or
average number of days to collect payments
GPUG Summit 2011– Las Vegas www.gpug.com
Defining Your Process
Aging periods (defined in Receivables Management)– Different aging periods generate different
actions Collection Levels– Not all unpaid amounts have the same
urgency– Different balances can be handled differently
How do you currently collect money?
GPUG Summit 2011– Las Vegas www.gpug.com
Where does CM fit in the Process?
Collections Management starts by establishing a foundation for the process– Custom Letters / e-mails – Customer Statements– Customer preferences– Credit Managers assigned to Customers– Collection levels based on amount outstanding– Collection Actions– Notes and Reminders
GPUG Summit 2011– Las Vegas www.gpug.com
How do you collect your money?
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Collection Actions
Send a copy of the invoice E-mail a reminder Make a phone call Send a friendly letter Place a follow up phone call Send a 2nd letter
GPUG Summit 2011– Las Vegas www.gpug.com
Collection Actions
Grouped into categories– No category– Disputes– Promise to Pay– Special
Each type of action has a pre-defined number of days to trigger a follow up
GPUG Summit 2011– Las Vegas www.gpug.com
Who do you apply actions to?
GPUG Summit 2011– Las Vegas www.gpug.com
Following the Process
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Adding Notes and Reminders
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Keeping On Task
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Letters, Statements and Invoices
GPUG Summit 2011– Las Vegas www.gpug.com
Metrics
GPUG Summit 2011– Las Vegas www.gpug.com
Metrics
GPUG Summit 2011– Las Vegas www.gpug.com
Recap
Collections Management is a process Tool to improve cash flow Streamline workload related to collection
of debt Provides the ability to keep good customer
relationships
GPUG Summit 2011– Las Vegas www.gpug.com
Collections Management
QUESTIONS ?
GPUG Summit 2011– Las Vegas www.gpug.com
Collections Management Overview
Thank you for attending!Howard Swerdloff
Global Tower [email protected]
http://www.linkedin.com/in/hswerdloff
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