Software automates all aspects of debt collection.March 3, 2003 - Collection System automates process of collecting past due invoices by identifying overdue invoices; assigning or reassigning invoices to designated collectors based on geographic area, class, or branch; and monitoring debt collection efforts. Software retains account collection history; tracking number of times accounts go into collection phase, and number of days to pay. It automatically produces dunning letters according to pre-determined levels.
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Original Press release
Syspro Group
959 S. Coast Dr., Suite 100
Costa Mesa, CA, 92626
USA
SYSPRO Announces Collection System Software
CHICAGO – March 3, 2003 – National Manufacturing Week -- SYSPRO, a leading producer of enterprise software for manufacturers and distributors, has announced a new Collection System that automates all aspects of debt collection.
According to Brian Stein, president, SYSPRO US, the new Collection System fills a critical void that most ERP and CRM solutions have failed to address – that of automating the process of collecting past due invoices. “Numerous customers of SYSPRO software have asked us to develop such a solution, which is especially critical during economic downturns when firms are slow to pay,” he said.
The SYSPRO Collection System identifies overdue invoices, assigns (or reassigns) the invoices to designated collectors, monitors debt collection efforts and retains an account’s collection history, tracking the number of times an account goes into the collection phase and number of days to pay. The software offers several levels of security to maintain the confidentiality of customer records. For instance, the system can restrict a collector’s access to only assigned accounts.
The SYSPRO Collection System is highly customizable, enabling a firm to determine those levels at which automated collections efforts are to commence, such as minimum overdue balances, minimum number of days overdue and others. A key system feature is the ability to assign overdue invoices to collectors based on the customer, customer class, geographic area or branch.
The system automatically produces dunning letters according to pre-determined levels. For example, a “past-due” letter may be issued after 10, 15, 20 or 30 days. Company defined personalized comments may optionally be added to the letters. Several codes can be assigned to give managers quick insight into collection efforts. These codes provide ready indication of collection difficulty and the final status of the collection effort.
A variety of reports can also be generated to provide management insight into the status of collections. Among the available reports are those which indicate invoices in the collection system, invoices below minimum requirements and/or customers’ credit histories.
The SYSPRO Collection System serves as a contact management system to the collectors, providing access to summary screens for all assigned accounts, enabling them to review the daily workload and assign priorities. Drill-down and sort views provide additional details of each contact with the customer.
The SYSPRO Accounts Receivable module is a prerequisite for the new collection module, which is priced according to the number of users.
SYSPRO is a world leader in providing manufacturing, distribution and financial accounting software solutions with thousands of installations in more than 50 countries.
SYSPRO is one of the world’s most honored software companies. Recent milestones include: The K2 Quality Award for “Installation Channel/Methodology” for the SYSPRO STARS Implementation Methodology; Voted Number One in 2002 Middle Market ERP Software Survey Conducted by Accounting Research; Recipient of START Magazine’s First Annual Vision Award (2001) and “Hottest Company” designation for three years; Named Finalist for Developer of Year (2002) by Software Council of Southern California; Ranked Among World’s Top Software Companies by MSI Magazine, Managing Automation Magazine, Logistics Management Magazine and Software Magazine; and Given Highest Ratings in Accounting and Manufacturing Software Reviews by CPA Software News for ten consecutive years. SYSPRO was also a nominee for AEA Software Developer of the Year.
SYSPRO software is marketed worldwide through offices in the U.S., Canada, Africa, Australia and the U.K.
SYSPRO headquarters for the Americas are located in Costa Mesa, Calif., from which the company markets SYSPRO supply chain software to established and emerging companies in the U.S., Mexico, Central America, South America and the Caribbean. http://www.syspro.com or email info@us.syspro.com.
For additional information, please contact Stan Goodrich at 714/437-1000, x248, or email: stanley.goodrich@us.syspro.com
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