Kinesis Limited has seen major improvements to its credit control processes after piloting Exchequer Credit Pursuit, a new product from Advanced Business Solutions, which allows businesses to better manage debtors and debtor information.
Credit Pursuit fully integrates with Exchequer’s accounting software, enabling users to manage all credit control tasks and processes within a single solution. Kinesis went live with the software in November 2013.
Kinesis Ltd is a leading supplier of consumables and equipment for chromatography, liquid handling, sample laboratories storage and medicinal chemistry. The business has experienced steady growth over the past 15 years.
As its international customer base has expanded, managing debtors has become a more onerous task. The business invested in the new software to improve the management of debts and debtors, which it identified as essential for sustained profitability. Exchequer Credit Pursuit enables Kinesis’s Credit Control team to manage 350 live accounts at any one time.
Since using the solution, Kinesis has consolidated and centralised all debtor related information, which is now instantly accessible to users. As a result the finance team has reduced average debtor days – the length of time it takes to issue an invoice to a customer and receive payment – from 60 to 40 days.
Credit Pursuit has enabled Kinesis to reduce both the time it takes to pursue debtors and the time it takes for credit control staff to manage late payments. This facilitates cash injection into the business which helps stablise cash flow.
David Patrick, Kinesis Finance Manager explains, “We previously had to spend long periods of time managing accounts and debtor information using spreadsheets but Exchequer Credit Pursuit now gives us the luxury of viewing all account and debt history in one place. Before it used to take us an hour or so to collate all the history on a seriously overdue payment, now the information is instantly available.”
Credit Pursuit keeps track of all associated correspondence, automatically attaching emails to the customer’s account. The solution includes a simple on-screen dashboard which enables users to view and access debtor information and includes functionality which helps reduce the time it takes credit controllers to chase debtors. Key features include a full chase history which lists all actions taken by credit controllers and automatic prompts that ensure no required action is overlooked.
“When chasing payments, our credit controller records the details of phone calls straight onto the system. Credit Pursuit then collates in one location what might add up to a two-month history of emails and notes.
It is easier to share information internally. For example, if there’s a dispute on the price charged, all the relevant background documentation can be sent instantly to the appropriate manager.”
Exchequer Credit Pursuit also enables users to tailor processes to individual customer relationships and this flexibility is crucial for Kinesis.
“It is important to stress that a broad-brush approach doesn’t work in credit control. We serve an extremely wide range of customers and what is appropriate in one situation is not suitable for another customer,” says David.
Greg Ford, Managing Director, Exchequer comments: “Effective credit control is essential for all businesses and irrespective of economic climates, cash remains a top priority for firms like Kinesis. Exchequer Credit Pursuit has been developed to automate manual credit control processes.”
“The solution is growing in popularity because it provides access to accurate, up to date debtor information and streamlines all credit control activities. Reduced time, effort and expense related to chasing debts can reduce the debt cycle and improve cash-flow - something which is critical for every business.”
Exchequer is an award-winning finance and accounting software solution used by nearly 20,000 users every day to manage their finances. The company has won 11 awards in 15 years and consistently delivers productivity savings to customer that average 47%.
For more information about Exchequer Credit Pursuit, please visit exchequer.com/solutions/credit-pursuit-software.aspx
About Exchequer exchequer.com
Exchequer’s multi-award-winning, fully integrated accounting and business software helps organisations improve the way they manage and operate their business, delivering significant time and cost savings by automating everyday tasks.
Flexible and easy to use, with powerful functionality built-in throughout, Exchequer supports all aspects of your organisation providing unrivalled analysis, exceptional management reporting and productivity enhancing tools. Exchequer improves customers’ productivity by 47%.
Award successes include ‘Financial Software Provider of the Year’ in the Real Finance/CBI FDs’ Excellence Awards, winning more times than any other software provider, ‘Best rated accounting product catering for businesses in the medium range’ in an authoritative survey by the ICAEW, and 100% user recommendation by Charity Finance for three years running.
Exchequer is part of Advanced Business Solutions, a division of Advanced Computer Software Group plc.
Credit Pursuit fully integrates with Exchequer’s accounting software, enabling users to manage all credit control tasks and processes within a single solution. Kinesis went live with the software in November 2013.
Kinesis Ltd is a leading supplier of consumables and equipment for chromatography, liquid handling, sample laboratories storage and medicinal chemistry. The business has experienced steady growth over the past 15 years.
As its international customer base has expanded, managing debtors has become a more onerous task. The business invested in the new software to improve the management of debts and debtors, which it identified as essential for sustained profitability. Exchequer Credit Pursuit enables Kinesis’s Credit Control team to manage 350 live accounts at any one time.
Since using the solution, Kinesis has consolidated and centralised all debtor related information, which is now instantly accessible to users. As a result the finance team has reduced average debtor days – the length of time it takes to issue an invoice to a customer and receive payment – from 60 to 40 days.
Credit Pursuit has enabled Kinesis to reduce both the time it takes to pursue debtors and the time it takes for credit control staff to manage late payments. This facilitates cash injection into the business which helps stablise cash flow.
David Patrick, Kinesis Finance Manager explains, “We previously had to spend long periods of time managing accounts and debtor information using spreadsheets but Exchequer Credit Pursuit now gives us the luxury of viewing all account and debt history in one place. Before it used to take us an hour or so to collate all the history on a seriously overdue payment, now the information is instantly available.”
Credit Pursuit keeps track of all associated correspondence, automatically attaching emails to the customer’s account. The solution includes a simple on-screen dashboard which enables users to view and access debtor information and includes functionality which helps reduce the time it takes credit controllers to chase debtors. Key features include a full chase history which lists all actions taken by credit controllers and automatic prompts that ensure no required action is overlooked.
“When chasing payments, our credit controller records the details of phone calls straight onto the system. Credit Pursuit then collates in one location what might add up to a two-month history of emails and notes.
It is easier to share information internally. For example, if there’s a dispute on the price charged, all the relevant background documentation can be sent instantly to the appropriate manager.”
Exchequer Credit Pursuit also enables users to tailor processes to individual customer relationships and this flexibility is crucial for Kinesis.
“It is important to stress that a broad-brush approach doesn’t work in credit control. We serve an extremely wide range of customers and what is appropriate in one situation is not suitable for another customer,” says David.
Greg Ford, Managing Director, Exchequer comments: “Effective credit control is essential for all businesses and irrespective of economic climates, cash remains a top priority for firms like Kinesis. Exchequer Credit Pursuit has been developed to automate manual credit control processes.”
“The solution is growing in popularity because it provides access to accurate, up to date debtor information and streamlines all credit control activities. Reduced time, effort and expense related to chasing debts can reduce the debt cycle and improve cash-flow - something which is critical for every business.”
Exchequer is an award-winning finance and accounting software solution used by nearly 20,000 users every day to manage their finances. The company has won 11 awards in 15 years and consistently delivers productivity savings to customer that average 47%.
For more information about Exchequer Credit Pursuit, please visit exchequer.com/solutions/credit-pursuit-software.aspx
About Exchequer exchequer.com
Exchequer’s multi-award-winning, fully integrated accounting and business software helps organisations improve the way they manage and operate their business, delivering significant time and cost savings by automating everyday tasks.
Flexible and easy to use, with powerful functionality built-in throughout, Exchequer supports all aspects of your organisation providing unrivalled analysis, exceptional management reporting and productivity enhancing tools. Exchequer improves customers’ productivity by 47%.
Award successes include ‘Financial Software Provider of the Year’ in the Real Finance/CBI FDs’ Excellence Awards, winning more times than any other software provider, ‘Best rated accounting product catering for businesses in the medium range’ in an authoritative survey by the ICAEW, and 100% user recommendation by Charity Finance for three years running.
Exchequer is part of Advanced Business Solutions, a division of Advanced Computer Software Group plc.
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Recevez chaque matin par mail la newsletter Finyear, une sélection quotidienne des meilleures infos et expertises de la finance d’entreprise.
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Lisez gratuitement chaque mois :
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