Accys services will positively impact Revenues , Profit and Cash Flow

Invoice To Cash Process

    •   Invoice delivery confirmation

    The most given reason for nonpayment of the invoice is that the invoice has not been received, in order to ensure that this reason in is not resorted to by the customers, Accys sets up a process where there is a call for receipt of invoices from the customers and an email sent to the client, confirming that they have received the invoice.

    •   Invoice acceptance

    It is important that after the invoice has been received by the customer, there is a follow up process to ensure that the invoice has been accepted by the customer and there are no reasons why the customer may not be able to release the payment by the due date.

    •   Collection process:

    This phase will include the collection strategy and mechanism to collect the invoicing amount before the due date. This also includes rigorous follow-up for collections. At this level we create buckets of clients which have same kind of requirements. This enables us to have different strategy for each set of clients differently.

    In this process the entire follow up and escalation process (follow up calls / reminder mails) will be streamlined for the collection of dues on or before the due date.

    •   Dispute identification and issue resolution

    This process will include the strategies on how to resolve the dispute if any until final customer satisfaction is attained and the entire invoice amount has been realized.

    As an independent professional entity, we would listen to the customer and solve their issues under our control and if necessary escalate to the customer servicing team or the management.

    This will also include escalating the customer accounts which cannot be collected because of sales & service queries.

    •   Deductions Management / Short payments processing

    In case the customer does not settle the full invoice amount, Accys will follow up with the customers to understand the reason for the short payments and follow up with them to check when the amount deducted will be paid.

    •   Special collections process

    Special collection efforts are initiatives focused on narrowly defined objectives for collecting either from bad customers or delinquent customers. These collection efforts focus additional resources and manpower to collect the outstanding customers. By concentrating resources and attention on a limited task, progress can be accelerated and results improved.

    •   Customer reconciliations:

    In case the customer account is not reconciled due to short payments, credit or debit notes, unapplied payments, discounts availed by the customers, other adjustments etc. the customer will be confused as to the actual amounts that are due for payment and will always dispute the amounts due.

    Accys insists on timely and accurate client reconciliations for all customer accounts to ensure that customers and the company is aware of the actual amounts due and that all issues are identified and addressed at the earliest.

    •   Application of funds

    It is important to apply the customer payments, credit or debit notes that have been raised on the customers or received from the customers to the customer account.

    Very often, in the absence of details regarding the payments or lack of identification as to which the customer has made the remittance the amounts are applied on a FIFO basis or not applied at all.

    This leads to unnecessary customer calls, an unhappy customer and a general uneasiness about the customer accounts.

    Accys assists a company to deposit the incoming remittances in the bank account and to match the remittances with the proper customer and the open invoices.
    •   Collection of TDS certificates and statutory forms

    At the end of the financial year it is important for a company to collect their entire TDS certificates from the customers who have deducted tax at source or collect the statutory VAT forms from the customers who have taken advantage of the inter-state or intra-state indirect tax benefits.

    In case the TDS certificates or statutory forms are not collected the company would not be able to claim the respective taxes.

    Accys would follow up with the respective customers and assist the company to collect all the TDS certificates and statutory forms on a timely basis.

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