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Receivables
Receivables
Global receivables management ensures effective management of debtors to eliminate risk of returns and losses caused by defaulters and delayed payments.
We design, develop and configure computer hardware and software for banks and other organizations in the financial services industry.
Value to Customer
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Improved Financial Performance - Accelerate payment (DSO Improvement) -
Reduced collections costs -
Improved relationship between financial institution and client -
Improved competitive positioning -
Instant Visibility -
Improved cash flow forecasts
Cheque & Cash Collections
Cheque collection services are extended to include postdated cheque management supported with features of cheque discounting and in vault/warehouse operations
- Handle & manage corporate customer’s receivable needs
- Flexible collection products
- Increase straight through reconciliation through data enrichment & account receivable matching
- User driven business rule definition for personalized products
- Provision to capture non-financial data & maintenance of unlimited enrichments
- Credit limit maintenance and risk management
Virtual Accounts received along E-Receipts combined with ROBO structures further enhance the invoice matching and reconciliation process with remitter info identification to manage outstanding receivables more efficiently with exhaustive MIS.
- Facilitate migration from paper based payment channels to more efficient electronic channels
- Central information management to enhance visibility, analytics, performance metrics and workflow
- E-Receipts 'tagged' to the virtual account aligned to the trading associate or vendors or payee
- Corporates gaining faster liquidity in addition to STR (Straight Through) efficiencies.
FinnAxia
FinnAxia Global Receivables Management provides a comprehensive set of features geared to manage bank’s corporate customers’ receivables needs. Global Receivables solution facilitates banks in defining flexible collection products based on corporate banking operating model, thereby, ensuring optimum fund consolidation viz; Cheques, Cash, I-ARMS, Invoices Matching, E-Receipts, Virtual Accounts, and Direct Debits.
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