1. Invoicing Management - The new features in Microsoft Dynamics GP 2010 allow you to automatically email invoices to your customers. Your customers receive the communication instantly instead of a couple of day turn over. They say each time you print, prepare, and mail an invoice, it costs your organization 80 cents to a dollar. With this functionality now in Microsoft Dynamics GP, it’s basically free. This ensures you get paid on time and allows for a stronger cash flow.
2. Collections Management – Collections management in Microsoft Dynamics GP allows you to manage your collections for cash flow purposes. You can build and store an unlimited number of queries to target, and view customers that meet user-defined criteria such as balance, notes, customer, credit manager, and payment history. You can also set automatic follow-up actions and reminder dates and view completed and uncompleted tasks, as well as completed or uncompleted payment promises by customers.
3. Cash Flow Management – With cash flow management in Microsoft Dynamics GP, you have access to a big calendar that shows a dashboard view of your accounts payables and account receivables based on due dates. When you create invoices, it will assign a due date and input that into system. This calendar shows you what’s due that day, what’s due to pay, and what’s scheduled to come in giving you better business insight and management over your cash flow.

In conclusion, Microsoft Dynamics GP offers the flexibility for you to decide which collections you want to manage and because the processes are automated, it helps you save time and money and ensures accuracy. The seamless solution keeps everything together so you don’t have to cross reference with other data. Everything is in real time and all the GP modules work directly together. Start the year off strong with better cash flow and contact us to learn how Microsoft Dynamics GP can help you get there.

By The TM Group, Michigan Microsoft Dynamics Partner for Microsoft Dynamics GP, Microsoft Dynamics SL, Microsoft Dynamics NAV, Microsoft Dynamics CRM and SharePoint

Cash is King – 3 Ways to Stronger Cash Flow in 2011 with Microsoft Dynamics GP is a post from: ERP Software Blog

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I would not recommend that you have your frontline or customer facing staff do collections.  Keep your service and sales staff totally focused on their jobs of generating revenue and not accounts receivable collections.  Remember they have to keep their relationship with the customer happy and very professional.   Keep collection activity where it belongs; in your administration department. 

Try to be consistent with your message and the timing of your calls and letters without going overboard.    And if you have several people making calls you must make sure they aren’t calling the same customers at the same time.   They should have a very concise list of customers that they call, specific procedures and business rules to manage the list they are calling along with the flexibility and power to work out payment arrangements with the customer.  Staff should always have a manager  to defer any escalations or issues that they can not resolve quickly and under any set guidelines. 

 You want to keep your customers coming back but you need to keep a close eye on payment schedules.  

A great tool to use is available with Dynamics GP; Collections Management.      Improve your cash flow and reduce bad debt expense. The clear, customizable information views and automated bad debt management tools provided by Collections Management in Microsoft Dynamics GP help you minimize administrative workload for collections by automating the generation of correspondence, e-mail notices, statements, and invoices to customers, freeing your people for other tasks.

Collections Management is available to GP Professional customers or customers and prospects that are looking at the Advanced Management Suite of Dynamics GP.  We have several customers that use this tool and have found it invaluable to their business.  In fact we have been selling this functionality into a lot of our customers lately and/or training staff on how to use the tools they have already in place to accommodate more aggressive collection activities. 

Cash Flow Management is another great tool to add or utilize.   Improve cash flow with customizable information views and forecasting capabilities that enable you to monitor, predict, and manage inflows and outflows.

Dynamics GP has many tools in its toolbox to keep you, your customers and your C level staff apprised of cash flow.  Along with Collections Management there is Cash Flow Management, the integration to Office for collection letters or perhaps a thank you for your business letter or special promotion!

If you care to comment on the information above or have any questions please feel free to contact me at nphillippi@customis.com. 

by Custom Information Services – Texas Microsoft Dynamics Partner

Collections Management, Cash Flow Management; Tools for a Tight Economy is a post from: ERP Software Blog

Related Posts

1. How to improve your cash flow with Dynamics GP Collections Management
2. Cash is King – 3 Ways to Stronger Cash Flow in 2011 with Microsoft Dynamics GP
3. Rocking The Boat of Cash Flow With Dynamics GP