SAP Collections Management: All Receivables Under Control!
SAP Collections Management is part of SAP Financial Supply Chain Management (FSCM) – a centralized tool for managing and monitoring outstanding payments. With SAP Collections Management, you can automate and optimize your entire receivables management!
What Challenges Do Companies Face When Managing Receivables?
In many companies today, receivables monitoring and receivables collection are characterized by a lack of transparency and numerous manual steps. Owing to this lack of transparency, key employees are often missing information about the scope and current status of receivables. Having a large number of customers and persons responsible further complicates the monitoring process. Receivables collection is absolutely necessary to safeguard liquidity and ensure cash flow.
What Does SAP Collections Management Offer?
SAP Collections Management provides a centralized, transparent platform for monitoring and managing customer accounts with outstanding payments. In addition to receivables management, collection processes can also be mapped on this platform. Having a holistic monitoring system gives you greater transparency within receivables management. SAP Collections Management facilitates the centralized management of customer information, payment behavior, credit limits and an open invoice history. Moreover, payment reminders and dunning letters can be generated automatically. The management of payment plans and collection costs is mapped within the collections process, while collection strategies and collection groups pave the way for faster payment of outstanding receivables.
