Does your business have a DSO problem? Outstanding sales cost you money because you're basically giving your customers an interest-free loan for every day that a payment waits. Let's talk about how businesses can update accounts receivable for faster payments. Accounting software that stops at crunching the numbers is just letting you know how much money you're waiting on. Automated customer communications is the link that allows many businesses to increase collections KPIs. Anytime Collect is also a solution for your business if you are looking for a platform offering NetSuite account reconciliation.
How Does Anytime Collect Reduce Your DSO?
You're looking for some very specific features if your goal is to reduce days sales outstanding. Anytime Collect stands out among programs that offer NetSuite integration due to a list of features that are designed to bring down DSO. Here's a look at the three ways this program achieves that goal:
Automated customer communication.
Self-service options for customers.
Credit and collections tools.
It's important to dial in a bit on each of these features. Anytime Collect uses delivery of personalized, prompt communication to every customer to ensure that invoices are never overlooked. The platform actually deploys notifications based on invoice statuses. The self-service features of Anytime Collect give your customers around-the-clock access to invoices, payments and communication options. That means that customers will be more likely to pay their invoices because they have the option to pay outside of "business hours." Finally, this platform is equipped with a number of credit and collections tools that allow your team to get deep, rotatable views of each customer's activity. You're able to utilize scalable customer engagement to base communications on customer profiles.
More On The NetSuite Integration
Anytime Collect allows for full NetSuite account reconciliation. That means that you can now stay on top of payments without changing the way you manage inventory, track financials or run your customer relationship management (CRM) system. What's interesting about Anytime Collect is that it is compatible with more enterprise resource planning (ERP) programs than any other platform of its kind. The list includes SAP, the Sage family of programs, the Microsoft Dynamics family of programs, Epicor, Creditsafe, SOLUPAY, and Chargebee.
Accounting Improvements: Making Accounts Receivable Your Own
What many people see as the big benefit of Anytime Collect is that you're making your accounts receivable process part of your brand instead of giving customers what feels like a "third-party" collections experience. The platform’s branded communications create a smoother channel for payment requests. What's more, you're getting access to a multi-channel delivery system to ensure that billing updates and communications go through the channels that are seen and used by customers.
Make a Plan to Tackle Disappointing DSO
Is lowering DSO on your to-do list? It's hard to argue against the fact that Anytime Collect is the master of this. This platform's rich integration capabilities with programs like NetSuite make it a convenient and vital option for getting accounts receivable in shape without uprooting the systems that are already working for your business. Our team of accountants here at Fusion CPA can show you what integration would look like for your business. We are knowledgeable of the best practices for high-level accounting technology integration. Our team can help you with everything from CPA services to SaaS customization to make sure Anytime Collect operates like it was built just for your business. In addition to software implementation and accounting services we also offer tax planning and preparation, bookkeeping and CFO business advisory. Part of our CFO business advisory service is recommending software like AnytimeCollect as our goal is to help transform the overall strategy of your business. You can learn more about our services by clicking the button below to schedule a complimentary discovery call today!
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