{"id":2879,"date":"2023-09-20T13:51:41","date_gmt":"2023-09-20T13:51:41","guid":{"rendered":"https:\/\/processminery.com\/?page_id=2879"},"modified":"2023-11-09T16:01:17","modified_gmt":"2023-11-09T16:01:17","slug":"product-page-receivables-view","status":"publish","type":"page","link":"https:\/\/processminery.com\/index.php\/product-page-receivables-view\/","title":{"rendered":"Product page – Receivables View"},"content":{"rendered":"\t\t
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Account Receivables View<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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Improve your AR Process!<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Collecting your AR invoices on time is one of the most important tasks in your Accounts Receivable department. Ensure a low Days Sales Outstanding (DSO) with a minimum of (manual) interventions is one of the top priorities.<\/p>

\u00a0<\/p>

Process Minery Receivables view is a purpose-built application that optimizes and automates the collections process using a combination of processes and customer data. The goal is to make every customer interaction more valuable and help businesses to achieve their targets.\u00a0<\/p>

Some of the key features available in the current Accounts Receivable (AR) Collection app are listed below.\u00a0<\/span><\/p>

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AR departments exist to ensure that customers pay for the goods and services that are delivered, that the company receives those incoming payments and that the payments are processed quickly and accurately.<\/p>

AR staff can improve cash control by focusing on the following business objectives:<\/p>

      • Revenue Protection<\/li>
      • Working Capital Optimization<\/li>
      • Labor Productivity<\/li>
      • Compliance and Risk Management<\/li><\/ul><\/li><\/ul><\/li><\/ul>

        \u00a0<\/p>

        Because of this reason we created the Receivables views with two main KPI\u2019s. We also calculate the payment risk. In this way you have a clear view on which invoices you should act on.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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        \n\tPreview of our AR product:\n<\/span>\n\t<\/h4>\n<\/blockquote>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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        \"Open
        Open AR, DDO & DSO<\/figcaption><\/figure><\/div>
        \"AR
        AR Execution Gaps<\/figcaption><\/figure><\/div>
        \"Payment
        Payment Risk<\/figcaption><\/figure><\/div>
        \"Profile
        Profile View<\/figcaption><\/figure><\/div>\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t
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        \n\tDSO (Days Sales Outstanding)\n<\/span>\n\t<\/h4>\n<\/blockquote>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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        Days sales outstanding (DSO) is a measure of the average number of days that it takes a company to collect payment for a sale. DSO is often determined on a monthly, quarterly, or annual basis.<\/p>

        \u00a0<\/div>

        To compute DSO, divide the average accounts receivable during a given period by the total value of credit sales during the same period, and then multiply the result by the number of days in the period being measured.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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        \n\tDDO (Days Deduction Outstanding)\n<\/span>\n\t<\/h4>\n<\/blockquote>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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        Days Deduction Outstanding (DDO) is a key metric or performance indicator in deduction management that is used to demonstrate how effective a company is at resolving deductions. It refers to the number of days that\u00a0account receivables\u00a0practitioners will need to resolve an outstanding deduction. To calculate DDO, the amount of the open deductions is divided by the average value of deductions incurred within a certain period of time.<\/p>

        \u00a0<\/p>

        \"Days<\/p>

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        \n\tLikeness to Pay<\/span>\n\t<\/h4>\n<\/blockquote>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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        How likely is it that the customer will pay (quickly). Or what is the chance that the customer will pay quickly if we now send an email, start a call campaign or something else?<\/p>

        \u00a0<\/p>

        We devided the payment risk in three categories:<\/p>

        • Low (green): there is a high chance that the customer will pay well\/quickly.<\/li>
        • Middle (orange): Customer paid but may take a little longer.<\/li>
        • High (red): there is a low chance that the customer will pay quickly.<\/li><\/ul>

          \u00a0<\/p>

          To calculate the Likeness to Pay we included theses KPI\u2019s.<\/p>

          • % Invoices paid on time<\/li>
          • # Total overdue outstanding invoices per customer<\/li>
          • % Total overdue outstanding invoices per customer<\/li>
          • DSO<\/li>
          • DDO<\/li>
          • Date of first dispute<\/li>
          • Percentage of invoices with reminders or reminders<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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            Contact us<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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            <\/p>

              <\/ul><\/div>\n
              \n
              \n<\/fieldset>\n
              \n
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              \nName<\/span>\n<\/span>\n<\/div>\n<\/div>\n
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              \nEmail<\/span>\n<\/span>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
              \nSubject<\/span>\n<\/span>\n<\/div>\n
              \nMessage<\/span>\n