Expert Information - 19.12.18
proALPHA Automates Receivables Management
Avoid risks, ensure liquidity, optimize business processes
proALPHA has created an efficient tool for real risk management by adding new functionalities for credit checks, open item (OI) management and dynamic receivables analyses. This comes in handy as customers with unstable creditworthiness pose a high risk especially to SMEs from the manufacturing and wholesale sector. With proALPHA, you can detect this risk very quickly.
The integrated workflows automatically notify all relevant persons in the company of the changing payment behavior or capability of a customer, so that appropriate measures can be taken, like stopping delivery. This adds to increased transparency and safety throughout the company. These new features are available as of proALPHA version 6.1. This includes:
Interactive OI Explorer
In open item management, you can now investigate a receivables account's balance and pertinent original documents with just a few clicks. Workflows forward necessary follow-up tasks to the persons responsible, including all relevant notes and documents. Receivables can be clustered by freely definable amount categories for risk analysis.
Dynamic receivables analysis
proALPHA provides 26 internal KPIs for receivables management that can be used to analyze payment profiles, exceeding of credit limits, and receivables. In addition, users can define their own indicators. All values are shown in time series and can be monitored continuously. Automatic workflows trigger notifications as soon as a critical value is reached. This helps you to minimize risks and take appropriate measures. This enables companies to identify trends more quickly and gain more security with regard to their accounts receivables.
Direct connection of leading credit reporting agencies, especially Creditreform, for continuous monitoring.
You can submit requests for information about creditworthiness to credit reporting agencies like Creditreform directly in proALPHA. proALPHA has undergone an extensive certification process for the use of Creditreform web services. It proves that the system fully meets the requirements of Creditreform. proALPHA provides the agency's reply in PDF format and automatically extracts the KPIs contained in the PDF. These data then serve as the basis for a receivables analysis and monitoring. This saves manual work for entering the information and conducting the KPI analysis. In addition, continuous monitoring can be set up for selected customers. The information provided by the credit reporting agency is then updated automatically, making it a valuable asset for detecting major liquidity risks.
These new features supplement existing functions relating to receivables management in proALPHA. For instance, the comprehensive ERP solution has long featured hedging management and guarantee management in the form of industry-specific components.
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