Redwood Shores, CA March 11, 2002 Enterprise software provider Oracle Corp. has rolled out a new collections application to help companies manage the collection cycle, from planning collection strategies, to interacting with customers, through managing cash collection.
Collections are frequently tracked manually, a labor-intensive process that can increase a company's day's sales outstanding (DSO) and negatively impact cash flow. Oracle said its appropriately named Collections application will allow companies to automatically identify delinquent customers and define targeted collection campaigns based on customer account history and status.
For example, a company may plan a collection campaign differently for delinquent customers with outstanding orders or service requests, or for long-term profitable customers.
To help do that, Collections provides a detailed history on calls, payments, promises to pay, disputes and reversals for each customer, helping collection agents appropriately tailor their interactions with customers. Oracle said Collections is integrated with the provider's Accounts Receivable application, allowing for reconciliation of outstanding debt and the tracking of customer payment histories.
Oracle asserts that while traditional customer-relationship management applications focus on improving customer service, the collections application helps companies improve their cash position.
"With the introduction of Oracle Collections, Oracle is making another significant advancement in integrating CRM and [enterprise resource planning] process," said Sharon Ward of consultancy Hurwitz Group. Ward noted that Collections represented another step in Oracle's efforts to integrate front- and back-office operations.
Oracle said Collections is available immediately as traditional software on CD-ROMs or as an online service.