In today’s fast-paced business world, automation has become the key to success by helping companies save time and money. One such automation solution is ezyCollect, a debtor management application designed for businesses that generate a large number of invoices each month. In this article, we will explore the features and benefits of ezyCollect, the best-in-field solution for accounts receivable management.
Best Practice Principles
ezyCollect stands out from the competition due to its laser-like focus on best practices in accounts receivable. By consistently sending overdue invoice reminders and persisting until a cash collection is made, ezyCollect ensures that businesses get paid for their outstanding invoices. Moreover, ezyCollect emphasizes the importance of maintaining a good customer relationship, assessing credit risk, and gaining deep insights quickly.
How it Works
One of the key advantages of ezyCollect is its seamless integration with popular accounting platforms such as MYOB and Xero. By syncing with your accounting data in real-time, ezyCollect provides a visual representation of the amounts owing and overdue in your business. Additionally, the application keeps a comprehensive record of each customer’s credit history, open invoices, and communication history, making it easier to manage debtor details in one place.
The communication workflow in ezyCollect is customizable, allowing you to create a series of system-generated reminders (email, SMS, post) that are sent to overdue customers. These reminders are personalized to look and sound like they come directly from your business, signaling your seriousness about getting paid. With ezyCollect, you can significantly reduce debtor days and improve cash flow.
Features that Reduce Debtor Days
ezyCollect offers a range of features that are specifically designed to reduce debtor days and improve collections:
- System-generated reminders: These reminders reach every overdue debtor, regardless of their size. Statistics show that overdue customers need at least two reminders and a phone call before they pay.
- Collated statements: To avoid bombarding customers, ezyCollect collates all overdue invoices into one statement.
- Online payment gateway: Customers can conveniently click and pay directly from reminders and invoices, streamlining the payment process.
- Daily schedule for phone calls: ezyCollect generates a daily schedule of customers who are due for a phone call, ensuring that no follow-up is overlooked.
- Credit check reports: Assess credit risk before issuing credit terms by accessing credit check reports directly within the app.
- Credit monitoring: Stay ahead of your customers’ negative credit events by receiving alerts and taking action sooner.
- Legal demand letters: With just one click, access legal demand letters and services to escalate your collections strategy.
- Automatically generated thank you emails: Show appreciation to paying customers with personalized thank you emails.
Who Should Use ezyCollect
ezyCollect is the perfect solution for any business that issues a large volume of invoices to credit customers. Whether you are a wholesaler, logistics provider, construction company, accountant, bookkeeper, telecommunications provider, manufacturer, legal firm, security company, or offer advisory services, ezyCollect can help streamline your accounts receivable management process.
User Interface
ezyCollect boasts a clean and modern user interface, providing immediate insights into the state of your accounts receivables. Whether you are using ezyCollect on desktop or mobile, you will have access to all the features and functionalities. Moreover, the latest update in April 2017 has made the app even more intuitive, ensuring that navigating and taking action are seamless experiences.
Conclusion
ezyCollect is truly a game-changer when it comes to managing accounts receivable and improving cash flow. By automating the process of sending overdue invoice reminders and implementing best practices in debtor management, ezyCollect helps businesses save time, reduce costs, and increase working capital. Its comprehensive set-and-forget solution, coupled with top-class customer service, sets ezyCollect apart from its competitors.
To experience the benefits of ezyCollect firsthand, you can start with their 30-day free trial. The return on investment calculator on their website allows you to simulate the potential return you could achieve by using ezyCollect. Don’t miss out on the opportunity to optimize your accounts receivable management – try ezyCollect now!
Note: Link to App Store – Link to Google Play
