Welcome to the Exact Product Blog

On this blog we will cover stories from all around the Exact ecosystem.

Financial insights limit your credit risk

Written by Bram Streefkerk on . Posted in Exact Online

From the Spring Release this year, Exact Online for Wholesale and Manufacturing contain a new feature called ‘Financial insights’. This feature delivers essential financial insights during the order intake process. Actually, when entering the customer in a new sales order, a popup is triggered automatically when needed, showing the amounts of (overdue) accounts receivable, open invoices and orders.

The financial insights feature has been created to  reduce your credit risk. The first statistics show that this feature is not a gimmick. Within one month of usage, the popup was triggered at more than 500 companies based on over-run credit limits, and over 3.000 times triggered by A/R’s overdue!

Based on the popup, one can reduce the risk and decide e.g. to first contact the customer to discuss his financial state before processing the order.

 

 

The popup provides a clear and simple graphical overview of:

  • Accounts receivable
    A/R (within the payment term) in blue, A/R overdue (overdue invoices, with an expired payment term) in red. The actual values are shown as well, just above the graph. Customer feedback learned that our users are even more interested in overdue invoices than in exceeding credit limits;
  • Ongoing invoices
    Invoices that are not yet processed and maybe waiting for other orders to be included;
  • Ongoing orders
    Orders that need to be invoiced, either completely or partially;
  • Credit usage
    (which is basically the sum of the above), with a plotted credit limit ‘red line’ as defined for this customer.

 

Next to focusing on reducing financial risk, the new feature has been designed in a way that is provides maximum convenience. There is no need to search or look-up financial information of this particular customer – it is provided conveniently just at the moment you need it: when entering a sales order for that particular customer.

Besides, the Financial insights popup includes the latest remarks for that customer as well, so you’re fully informed on the most important reminders as well.

 

 

 

Tags: , , , ,

Leave a comment