SYSPRO Updates Collection Solution

Adds additional process automation, customization capabilities to help manufacturers, distributors collect past due accounts

Adds additional process automation, customization capabilities to help manufacturers, distributors collect past due accounts

Chicago — March 14, 2005 — SYSPRO, a producer of enterprise software for manufacturers and distributors, has announced upgrades to its collection solution for small to midrange manufacturers and distributors that are experiencing difficulties in collecting past due accounts.

SYSPRO USA President Joey Benadretti noted that many small and midsize enterprises (SMEs) do not have a collection department and rely on an accounts receivable clerk — who is already busy getting invoices out and keeping up with customer payments — to also act as the collector.

"This is where the SYSPRO Collection Module can play a very important role in helping manufacturers and distributors collect past due funds that can often mean the difference between profits and losses," Benadretti said.

SYSPRO said that its Collection Module automates debt collection. It identifies overdue invoices, assigns (or reassigns) the invoices to designated collectors, monitors debt collection efforts and retains account collection history, tracking the number of times the account goes into the collection phase and number of days to pay. The software offers several levels of security to maintain the confidentiality of customer records, the solution provider said.

New features added to the newest generation of the SYSPRO Collection Module include an array of new buttons that further automate processes and customization capabilities; new e-mailing facilities from within the module; additional search facilities; new finance charge options; and the ability to view a summary of all current collection activities.

The Collection Module has a screen for capturing Dun & Bradstreet (D&B) credit information and automatically creates monthly ageing reports for submission to D&B on each specific account for which D&B checks had been obtained. In addition to saving time, this capability appends the customer profile with information vital to sales feasibility, SYSPRO said.

In addition, the Collection Module is customizable, enabling a manufacturer or distributor to determine those levels at which automated collection efforts are to commence, such as minimum overdue balances, minimum number of days overdue and others. A key system feature, SYSPRO said, is the ability to assign overdue invoices to collectors based on the customer, customer class, geographic area or branch.

Several codes can be assigned to give managers quick insight into collection efforts, according to the solution provider. These codes provide indication of collection difficulty and the final status of the collection effort. A variety of reports can also be generated to provide management insight into the status of collections.

The Collection Module also offers summary screens for all assigned accounts, enabling collectors to review the daily workload and assign priorities. Drill-down and sort views provide additional details of each contact with the customer, SYSPRO said.

For more information on solutions for mid-market enterprises, see "Stuck in the Middle" in the April/May 2004 issue of Supply & Demand Chain Executive.

For more information on the current state of the payment solutions market, see the article "The Analyst Corner: Payment" in the December 2004/January 2005 issue of Supply & Demand Chain Executive.