Transparency into and throughout the whole process. See when you receive payments and when there is a delay. Gain a clear understanding of the cash-in-hand and resource allocation.
When every step can be tracked, team members at each stage gain control and autonomy, thus enabling faster decision-making.
Reduce human intervention by automating process steps such as credit management, creating and sending invoices, and reconciliation.
Save time and money as you automate costly processes such as credit review, payment reconciliation, invoicing, collection, and much more.
Easily set-up e-invoices for customers. E-invoicing significantly speeds up the payment process by reducing the risk of delays in payment.
Mitigate risk by flagging fraudulent and duplicate payments and eliminate chances for human error by easily capturing early payment discounts.
After the purchase order is received, the finance manager sends a request for accounts receivable. Details such as the amount due, payment type, customer name, etc. are filled in.
Once the accounts receivable request is submitted, the transaction value is analyzed. Based on this value the credit period is calculated and recorded.
The customer is categorized based on being a new or recurring sales. After this, an invoice is newly created or an existing template is used. After the invoice is generated, it is sent to the customer.
Once the invoice is sent to the customer, the timeline for payment is recorded. If payment is made before or after the credit period, discounts or interests are applied, as needed.
Once the payment is made, irrespective of the discounts or interest applied, the deposit is recorded. The AR report is printed and the request is closed. In cases of delinquency, the sale is recognised as uncollectible and is closed.
-- Choose the one that best suits your organization --
Qntrl is the world’s #1 Workflow Orchestration Software. See why.
Get end-to-end visibility of all your workflows. Know what your team is working on, what progress has been made, and what’s coming down the pipeline.
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Optimize processes by budget. Boost low-cost requests, route high-value items through departments. Embed finance controls, leverage compliance for business performance, not resource drain.
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Access unified, relevant info in processes- SOC 2 for credit risk, payment vouchers for accounts payable, etc. Notify peers faster via email, SMS, or chat app.
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Track payments, send reminders for overdue amounts, customize invoices and statements, and automate workflow steps, assignments, and notifications. Adapt easily to changing business needs.
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Discover payment delay causes, reduce cycle times, monitor employee performance and access real-time reports. Schedule custom reports and stay on track with automated SLA reminders.
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Create flexible processes–request checks, approve budgets, reimburse travel, etc., tailored to your business. Workflow designer with advanced features– parallel transitions and common states.
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Connect Qntrl with tools like Netsuite, SAP, Slack, Stripe, and more. Minimize manual reconciliation and compile data from different sources. Customize Qntrl to fit with APIs and scripts.
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