Finance

Accounts receivable process collaboration and ERP integration for a medium sized service Operations Company.

Sparkle is is an ISO certified company that provides 'specialized housekeeping solutions'. The company has apresence in fourteen different industry segments ranging from automobile showrooms to hard core engineering / manufacturing industries.

Situation: Sparkle’s current receivable management involved manual report creation from ERP and manual follow up with the customers. This increased administrative costs. Sparkle wanted to induce a proactive and cost effective way to reduce days receivable outstanding.

Ideas

  Flowian subject matter experts conducted multiple discussions with the Sparkle finance team to understand the receivables process.

  The team also looked at the invoice reports from ERP to derive the business rules involved in client communications related to receivables.

Solutions

  Flowian used multiple solution components to create an end-to-end receivables solution. Receivables and customer data now flows into the workflow solution.

  Complex business rules such as threshold, reminder frequency, internal approval levels ensure that receivable notifications that are sent to customer are relevant and less intrusive. SMS gateway integration was done with workflow to automate the receivables communication.

Results

  Sparkle benefited immensely from the accounts receivable automation. The integrated solution now handles all day-to-day activities related to processing invoices and notifying customers of payment due.

  There was a considerable reduction in days receivable outstanding and administrative overheads.

Details

Categories: Finance