Transcript Document
cforia: MC2: Managing Credit, Collections & Deductions -Moving money from the balance sheet to the income statement cforia: History • Founded in February of 2001 to create the best of breed Credit, Collections and Deductions application for manufacturers, distributors, service & construction • Partners – – – – – SAP/ASUG Infor Complementary Partner Oracle / PeopleSoft JDE Quest Partner CashBook • Over 130 customers worldwide • Our application will manage over 60 Billion dollars in FY 2006 • Every customer is live and on the current release – Never had a failed project cforia: cforia: AR Database’s are Complex Collectables – Clean receivables Disputes – Dirty receivables Deductions- Dirty receivables • Clean Receivables – Collectables : transactions that are not disputed & whose receipt can be forecast • Dirty Receivables – Disputes : transactions that disputed and not paid – Deductions : transactions that are customer debits cforia: Portfolio Challenges Headquarters Parent Customer Invoice Invoice Parent Customer Invoice Invoice Customer Invoice Customer Invoice Invoice cforia: What problem are we solving? • AR analysts manage up to 5 five different processes – – – – – Order hold/release Collections Credit Deductions and disputes Sales rep support • Each process requires different workflows • ERP Systems are designed to process transactions and post to the GL • What tools are being used today to manage this strategic asset? cforia: Current AR Tools Outlook/Notes • Ticklers • Collaboration • Contacts AR system • Ticklers (?) • Notes • Contacts(?) • AR Inquiries • Invoice reprint • Order hold/release • Credit limit changes Word • Letters • Internal collaboration Paper • Aging reports • Statements • Notes (?) • Ticklers (?) • Deduction folders Excel • Account analysis • Internal collaboration • Deductions(?) Internet • POD’s • Banking information • Customer web sites Fax Machines • Collaboration Imaging Systems • Documentation Network Drives • Store customer information Credit • eRam, etc. Others cforia: Structural Inefficiencies cforia: Streamline Workflows cforia: Key Features Delivered • Segregate aging to improve decision making • Streamline order hold/release processing – Optimize in-bound credit checking logic • Prioritize collections/deductions activities – Rules based collections to maximize cash flow • Automated customer touches via letter engine – Improve collector efficiency • Track, manage and control deductions – Integrate AR process with key stakeholders • Deliver new reports – New controls drive performance – Customer, collector and company – Cash flow forecasting cforia: Success Stories • Napa Auto Parts – 20% DSO reduction yielding 7 figure annual benefit • Ashley Furniture – Sales grew from 860 million to $3.5 billion while AR headcount was reduced by 20% • Club Car – Collection efficiency increased 32% yielding a first year $500K benefit • Ferrero Inc. (Tic Tacs, Nutella, Rocher) – In first six months, while sales increased 25%, DDO decreased by 20%, headcount by 25% • Typical customer sees a minimum DSO reduction of 10% in first year – ROI’s measured in months cforia: Success Drivers • Technical – Designed for Mapics IFM and AM Financials • • • • Real-time integration Extension file-based Multi-currency and language Localization – No risk project • No ERP system changes required • All Cforia functionality is incremental – Few IT resources required to implement and maintain • Loads in a few hours • Trained and running in under 3 days cforia: Quote to Cash Business Process Sales Cycle Enter Ship/ Invoice Order Order MC2 Credit • • • • • • • • MC2 Collections Order Entry Cash Based CRM Sales Rep Management Sales Cycle Collaboration Order Hold and Credit Limit Mgmt. Credit Risk Analysis Credit Scoring Sales Rep Portal Customer Self Service • • • • • • • Total Receive Payment Charge-Backs MC2 Deductions Acct Rules Engine Invoice auto-fax Tickler system E-mail Letter Auto-Fax Dispute Mgmt Accountability • • • • • • • • • Control Rules Engine Deduction tracking and aging Credit Memo auto-fax Tickler system E-mail Letter Auto-Fax Dispute Management Dispute Accountability Collaboration Portal cforia: Enterprise Collaboration Portals Customers On-Line On-Line MR2: Sales Rep Portal •All AR inquiries •Reprints •Collaboration On-Line MD2-Web: Portal •Deduction inquiries •Attachments/notes •Collaboration On-Line MC2-PM: Portal •Job management •Collaboration •Automation Sales Collaborator Project Mgrs. MS2:Customer Portal •All AR inquiries •Reprints •Exports •Payments (3rd party) MC2/MD2 Management Tool •Work queues •Workflow •Notes •Disputes •Credit limits •Deductions •AR Inquires AR Specialist •Letters •Exports •Collaboration cforia: Reporting & Dashboard cforia: Cforia’s AR Breakdown for clean and dirty receivables cforia: Breakdown aging in many ways cforia: Drill Down Ability to analyze AR for each customer cforia: Cash flow forecast exportable into Excel Excel by sales rep, collector, customer, parent or company cforia: The Cforia Difference • Only vendor to provide real-time data access • We pioneered the order release functionality in the industry • Single interface for all credit, collections and deductions activities • Extremely easy to use • Very quick implementations • All development and support is on-shore • Customer intimacy and customizations cforia: What our Customers are Saying “MC2 is the first tool I have ever seen that uses only our undisputed open A/R, and takes into consideration our customer's historical payment patterns to derive an overall cash receipt forecast. The tool has improved my ability 10-fold to not only forecast our cash receipts activity, but also when to quickly identify variances from actual cash receipts. MC2 represents a quantum leap forward for our company from both a collection and a cash management perspective.” – Steve Font, Corporate Director of Treasury, Turner Industries cforia: Pamela Bauer Cforia Software 847-441-5404 [email protected]