Deductions
What is the Cashbook Deductions Management Solution?
The Cashbook Deductions Management Solution enables organizations to streamline their deductions management process by root cause analysis and proactively identifying, assigning and tracking disputes and deductions.
Deduction related transactions arise for many reasons such as pricing discrepancies, returned product and freight issues. The inclusion of these transactions in AR Cash Flow Cash Forecasting adversely affects the true cash collectable position. The AR analyst has to search various documentation in order to investigate these deductions and once investigated, and the deduction is closed on the AR ledger, there is no further record of the root cause. Cashbook enables root cause analysis to take place and thus provides the ability to resolve and reduce deductions in the longer term. In the short term the deductions management solution enables deduction analysts to identify, track and automatically assign reason codes and actions to close out and reduce deductions open on the AR ledger.
Features
- Create deductions with reason and deduction codes directly from remittance data.
- Automatic prioritization based upon size and type.
- Route deductions through your organization for instant review and approval.
- Unlimited electronic attachments and notes.
- Integration with Internet Proof-of-Delivery i.e. Fedex, UPS, etc..
- Document imaging support.
- Root-cause tracking.
- Ability to collaborate via the Web with stakeholder.
- Adapted to any bank file or customer remittance format for all ERP systems.
Benefits
- Reduction in number of open deductions.
- Recover substantial revenue that is usually lost in the deductions process.
- Separates the disputes & deductions management from collections management (optional).
- The Cashbook Deductions Management tool can automate over 85% of your Deductions.
- Deduction root cause analysis and tracking.
- Improve customer relationships.
- Detailed audit trail reports.
