Instead of someone looking through an Outstanding Receivables Aging Report, going into specific accounts, finding the right email address, and tracking down all the supporting documentation to send out an email reminder, the whole process can be automated.
With our Collections Workflow, the software does the work. Automatic notifications get sent out and all backup documentation gets attached automatically, so there's no back and forth communication and no manual work required.
Doing manual collections work that software can do faster is a straight waste of your people’s time and your company’s money.
With faster, more reliable cash flow, you can reduce your need for factoring and save a truckload of money.
Automating the work means no reminders are missed, eliminates back and forth communication, and allows your staff to focus on the problem accounts.
What would it mean for your business if you could reduce your outstanding receivables by even 5%? If you're doing $50 million in yearly revenue and have a Days Sales Outstanding of 40 days, a 5% improvement could put over $250,000 in your pocket. Today.
“We issue 1,500 invoices per month, with five or six pieces of documentation attached as backup with each bill – that’s 9,000 to 10,000 documents that have to be handled each and every month. With Synergize we have saved 6 to 8 hours per week on filing and retrieval, allowing us to re-deploy one part-time staff person. More importantly, we now save half a day on invoice runs that we do twice weekly, saving us eight hours per week.”