Aged Creditors

Introduction

Viewing aged debt to understand outstanding supplier payments has always been a challenge however with improved Payment and Credit Control processes your aged creditor’s analysis could be a thing of the past

Aged Credit reports are important for tracking the health of a companies   

Typical Problems

Consolidating and maintaining aged creditor reports can be time-consuming and admin-heavy, often requiring re-keying and in-depth interrogation of multiple data sources across multiple entities, revenue streams and currencies adding to the complexities of the task.

A lack of clarity and understanding of the true picture of aged debt can lead to businesses incurring penalty interest on outstanding debts impacting the bottom line.  

Solutions

A cloud-based payment solution can reduce manual tasks and speed up the overall process with the implementation of an automated payment module with multi-currency, multi-entity, and multi-dimensional capabilities.

Along with a wealth of standard reports, advanced reporting tools allow end-users to easily modify reports and present the information in user-friendly dashboards ensuring constant accurate visibility of any outstanding debt.

Benefits/ROI

A single platform to access real-time accounts information and status’ ensuring fully informed decisions at all stages.

Less manual intervention is required to consolidate the debt position, reducing potential penalties and improving the cash flow position.