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Accounts Receivable Management
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ACCOUNTS RECEIVABLE MANAGEMENT SOLUTION FOR MANUFACTURERS, DISTRIBUTORS, RETAILERS
AND FINANCE COMPANIES
Managing Accounts Receivable should not be difficult, creating and offering new
programs should not be a chore, and finding ways to support marketing and sales
efforts should not make the Accounting or IT staff want to quit. |
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At CoreCard we have a better way for Accounting and IT departments to partner with
Sales and Marketing departments. CoreCard's accounts receivable management solution
has been designed to allow for quick start up and management of new finance programs
including revolving credit. Based on the robust functionality developed to manage
consumer and commercial credit card programs, the CoreCard products are perfect
for supporting financing of complex accounts receivables.
Delayed payment plans, extended payment terms, loans of all types, and nominal option
leases are all possible with CoreISSUE configured for Accounts Receivable Management.
Additionally, adding private label or branded credit cards is an option readily
available with CoreISSUE’s feature rich credit management features.
The possibilities are endless with the parameter-based functionality built into
our products. Now when Marketing comes with a new program to offer, IT Managers
will be able to create and implement those programs quickly instead of saying “No”.
CoreISSUE FOR ACCOUNTS RECEIVABLE MANAGEMENT HANDLES ALL TYPES OF FINANCIAL PRODUCTS
CoreCard CoreISSUE for Accounts Receivable Management provides companies that manage
accounts receivables with the most advanced and feature rich solution for managing
all types of receivables including:
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Revolving Credit Accounts
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Fixed installment or EMI loans
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“90” Days Same as Cash Programs
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Trade Receivables
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Commercial Lending
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Discount Invoicing
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Factoring
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Extended Invoice Payment Terms
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Conditional Sales Contracts
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Nominal Option Leases ($1.00 or Fixed Option)
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Purchase Money Loans
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Line of Credit
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Inventory Financing
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Floor Plan Financing
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Rental Financing
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Asset Based Lending
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Real Estate Financing
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Working Capital Loans
MANAGE CUSTOMER REPAYMENT PLANS THE EASY WAY
Most enterprise systems come with basic accounts receivable functionality to invoice
customers for the product shipped; however, many lack the flexibility to establish
a variety of flexible payment programs. Adding CoreISSUE as a subsystem to the
existing accounting system allows companies to setup and manage the types of payment options
their customers are looking for.
In CoreISSUE a customer’s account is controlled by a variety of parameters
that are set within the system. These parameters control the many options that go
into building and managing repayment plans, including:
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Interest Plans –
Control fixed, variable, or tiered interest and other types of controls related
to interest. Interest charges can be established for specific state requirements.
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Service Charge Plans –
Control the various types of fees to be assessed such as late fees, insufficient
funds fees, card fees, usage fees, and other transaction fees. Fees can be driven
by specific state requirements.
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Account Control Tables –
Set the basic rules for payments, interest, and credit limits.
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Insurance Plans -
Control insurance parameters established to cover specific state regulations.
TRACK AND MANAGE RISK THROUGH ROBUST CUSTOMER HIERARCHY
Using the customer hierarchy scheme available in CoreISSUE, it is easy to track
overall exposure from the smallest office location right up through the parent company.
This ability makes managing multiple and distinct credit limits across customer
entities easier. It also simplifies managing overall customer exposure and risk
easier for the credit department. CoreISSUE can be used as the “system of
record” for all of a company’s accounts receivables.
MANAGE DEALER OR DISTRIBUTOR RECEIVABLES FOR THEM
With the flexible hierarchy built into CoreISSUE, it is easy to setup programs that
allow companies to manage and bill receivables for their dealers or distributors.
This value added service has benefits for both the company and their customers,
taking the burden off of them while providing additional control of those receivables.
CoreENGINE PROVIDES THE POWER OF SHARED COMPONENTS
The CoreCard products are built to sit on top of our CoreENGINE platform and the
power of the shared components embedded in this platform is leveraged across all
of our products. The CoreENGINE platform provides instant fault-tolerance, scalability,
and ease of use.
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Establishing an accounts receivable management program only requires configuration
of CoreENGINE, CoreISSUE and any other components that may be needed to meet the
requirements of the programs and products being offered.
WEB SERVICES SIMPLIFY CONNECTIONS WITH YOUR CURRENT SYSTEMS
CoreENGINE leverages a variety of web services and comes with a set of standard
Application Programming Interfaces (APIs) that allow the sharing of data easily
between CoreCard’s accounts receivable management software and many off-the-shelf
accounting software and ERP packages that companies may already be using to run
their business. New APIs can easily be added at any time for other non-standard
or new software packages as required.
ONLINE BILL PRESENTMENT AND PAYMENT
With CoreENGINE, it is possible to create or interface with an online web self-service
portal making it easier for customers to review their outstanding obligations. In
addition, a variety of other self-service features can be added including change
of address, request for a credit increase, request to place an orders, etc., enabling
a company to increase its operational efficiencies.
CORECARD PRODUCTS PROVIDE SUPPLEMENTAL FUNCTIONALITY
CoreCard can provide a complete Accounts Receivable Management solution by adding
one or more of our other products that support collections and sales:
CoreDISPUTE
CoreCOLLECT
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Champion/Challenger Recovery Strategies
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Case Management (automatic case presentment and case search facility)
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Collections Automation (letters, optional dialer interface, third party collectors)
CoreSALES
REDUCE COSTS AND INCREASE REVENUE
At CoreCard we have priced our solutions very competitively, allowing companies
to realize significant ROI quicker. Implementing our products can be less costly
than building or enhancing current products. With the flexibility of being able
to offer sales and marketing programs that the big ERP solutions can’t easily support, companies
will significantly increase customer satisfaction.
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