16 July 2018

Make sure you're paid on time, every time with Credit Management

Dropped in Dynamics 365 ERP

James Crowter
Formulated by James Crowter

Credit management is critical to the success of any business. My old mentor used to say: “A sale is not complete until the money is the bank.”

Do you ever dream that follow-up calls, or tasks were automatically diarised to ensure you can always keep on top of chasing debt?

To help make this happen we’ve built a Credit Management Addition for Dynamics NAV and Dynamics 365 Business Central that will help to ensure you get paid on time. Just to give you an idea, it will enable you to:

  • Automatically Credit Hold sales documents when the account exceeds a customer defined ‘overdue grace period’ or when they exceed their credit limit. In turn, there is no more trawling your sales ledger to see who needs to be manually blocked. This will save you more time and aggravation, as the hold is automatically removed when their payment is allocated
  • Credit Release individual sales documents, so you can let that spares order go whilst holding on to that restock order until payment is received. A new credit hold page alerts you when a customer places an order, which is always the best time to ask them for payment
  • When you make that call, you can record the details against the ledger entries and update them with a status and next action date. That means everyone can see if it’s a promise of payment or a dispute
  • During that call you’re a couple of clicks away from sending them copy invoices, statements or proof of delivery information. Integration with our Document Delivery Addition means they will have no excuse to delay payment
  • Your chase diary is on the system, which means credit control know exactly who they must call each day, so they can prioritise the largest amounts. This means if they pay like they promised then the activity to chase them is automatically cancelled. As a result, you don’t miss that call each month that gets you on the payment run
  • It provides you with statistics, so you know how each account is performing credit wise. Are their average days to pay getting longer which indicates they’re struggling? Get each accounts payment history at a glance and make decisions based on facts rather than gut feel
  • Understand your credit control performance. Know what percentage of your debt is old or in dispute and what has each credit controller and the team collected this month? You can also see how much has been disputed by type

Following the suggestions of our customers, we regularly make product updates and add new features to our Credit Management Addition. For Dynamics NAV 2017 onwards, as it’s an extension, there are no required changes to the core system. This means we can install it separately from any main upgrade as often as you like, which is where all our Additions are eventually headed.

Give your credit control the tool they need and make sure your cash collection is as good as it can be. It’s certain that you won’t regret making that decision.

Not convinced by how easy it sounds? We are, so how about we install it for a 60-day trial at no cost?

Our YouTube videos will train you how to use our Credit Management Addition and if you decide it's not for you then it’s a five minute uninstall (requires Dynamics NAV 2017 or 2018 supporting extensions). What have you got to lose?

Enhanced on 16 Jul 2018

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