Be on the front foot on collections and credit control as soon as a problem arises
VanguARd™ lets you be on the front foot on collections as soon as a problem arises, provides alerts for problem accounts, allows for faster allocation of cash and better client relations.
Cash allocation can be a time consuming process which can be hampered by poor quality remittance advices (either late or none) making the timeliness of sales ledger information weak and laborious to interpret for robust and effective credit control. As cash becomes tighter in the economy, organisations want to get on top of delinquent payers at the earliest opportunity and in the most cost effective way possible. Without applying amounts to specific debts in the debtors ledger at the instant cash is received, time is wasted analysing remittance advices and sales ledgers, making telephone or written enquires of the customer as to the composition of the remittance and reconciling remittances and cash received.
Match amounts received in the bank to paper and electronic remittances
VanguARd™ matches amounts received in the bank to paper and electronic remittances - even if they are not received on the same day, validates the values (e.g. invoice numbers and cash values) and applies the cash to sales ledgers to match to unpaid invoices. This can be done as soon as the data becomes available so VanguARd™ can apply direct debits which are received overnight or electronic remittance advices when they arrive by email for example. VanguARd can translate currencies and within a tolerance pre-set by the business (in absolute percentage terms) can apply the cash and process a currency difference to the general ledger automatically to clear the invoice.
Queries and alerts for payments
At the same time VanguARd™ can acknowledge receipt to the client, confirm the application of the cash, it will query any short payments, send chasers for older items as yet unpaid (we can do this at any point and as frequently as the client requires) and even automatically put a stop on the account of any preset limits are breached. All this can be done at any point in the day and as often in the day as information becomes available to VanguARd™ (usually automated bank feeds or a remittance advice being scanned or received electronically.
Benefits
- Significantly reduced costs of sales ledger and credit control personnel
- Be on the front foot on collections and credit control as soon as a problem arises
-
Alerts as soon as an invoice or an account appears to be a problem
-
Cleaner sales ledger, faster cash allocation, cleaner recoveries, a reduction in bad debts, an improvement in customer relations
-
Improvement in sales as confidence in the good payers increases
-
Data collected by VanguARd™ is rated and ranked for clients and builds a history.
Find Out More
To find out more please Contact Us with your enquiry. Alternatively, visit our Resource Centre to download the following related Solution Brief:
AutoRek® is a product of 
We are always on the lookout for talented, hard-working but above all, dedicated individuals to join the team here at AutoRek.
AutoRek supports the Finance Function strategic agenda and is particularly powerful in supporting Fast Close, Shared Services, Cost Reduction, Off-shoring and Outsourcing strategies. 
Getting a solution into production is the first step in achieving a goal. Ensuring smooth running for and enabling change are the true measures of success over time. All solutions we deliver benefit from support delivered by our dedicated service desk. Providing up to 24x7 support levels for critical applications through to standby on-demand advice.