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Moving Your Credit and Collections Solution to an Enterprise Private Cloud Model

By C.J. Wimley | 11/10/2014
COO for receivables,
SunGard's corporate liquidity business
With all of the hacking and security attacks we keep seeing in the news, it is no wonder companies are looking to tighten up their security.  Moving your credit and collections solutions to an enterprise private cloud service is an option companies are selecting. Here is a link to an article by one of my colleagues discussing how the Enterprise Private Cloud can help transform finance solutions.  Read Article

DSO and Past-Due A/R Top Credit and Collections KPIs In Recent Study

By C.J. Wimley | 10/28/2014
COO for receivables,
SunGard's corporate liquidity business
As treasurers descend upon the upcoming  (#AFP2014) Association of Financial Professionals conference, they should be thinking of ways to improve their credit operations. Key Performance Indicators (KPIs) and detailed reporting are vital to managing an efficient and effective credit operation. By tracking KPIs including collector effectiveness, organizations can gain a comprehensive view of performance and compliance to policy in real-time. There are common metrics that credit and collections departments typically include in their reporting. According to a recent SunGard market study of 400 participants, 87% tracked and reported on Past-Due A/R and Days Sales Outstanding. Here is the breakdown on what credit and collections departments are measuring: Past-due A/R - 87% Days Sales Outstanding (DSO) - 87% Average Days to Pay - 74% Collections Effectiveness - 38% Deduction / Dispute Cycle Time - 31% Deduction / Dispute Volume - 29% Since DSO depends on sales, it is not always the best m

7 Steps Toward Improving Credit and Collections

By C.J. Wimley | 10/13/2014
COO for receivables,
SunGard's corporate liquidity business
As credit and collections departments continue to face increased pressure to manage more with less, including an influx of invoice volume, there is increased demand for automation and workflow. I am speaking at the Credit Research Foundation Forum on this topic and presenting results from our recent Global Credit & Collections Benchmarking study. I thought I would share these 7 steps that I pulled out from the study that can help guide you toward improving your credit and collections processes and alleviate some of the pressures: Aggregate data across disparate ERP systems for a single view of credit risk; Introduce statistical scoring models to drive collections prioritization; Engage in monthly scoring of the ENTIRE A/R portfolio Segregate disputes from collectable portions of an invoice Use routing and tracking software to expedite the resolution of disputed invoices; Monitor collection agencies in real-time for performance and effectiveness with collection agency management Me

Managed Services Help Make a Credit Manager’s Job Easier

By C.J. Wimley | 10/2/2014
COO for receivables,
SunGard's corporate liquidity business
Improving the customer experience should be a main goal for solution providers. One way to accomplish this is by offering customers managed services. In the credit and collections management space, it is often difficult for credit managers to get the IT and capital resources they need to fund or support critical aspects of the credit and collections function. Managed services can help credit managers get and keep the technology they need in order to free them to focus on their actual jobs. Here is an article from my colleague Milista Anderson, chief customer officer, SunGard Corporate Liquidity & Energy business, who explains how managed services can enhance the customer experience. Read article.

Staying Current on Your Credit and Collections Software

By C.J. Wimley | 9/16/2014
COO for receivables,
SunGard's corporate liquidity business
Managed services is a hot topic in the technology space.  We are seeing increasing demand for customers looking to leverage managed upgrade services in particular to help them stay current on their credit and collections software.  Software vendors  these days need to be more than technology providers.  They need to be managed service providers who can offer an array of managed application services including managed upgrades.  Here is an article from my colleague Paul Bramwell, svp of treasury solutions at SunGard, who explains three ways to always stay compliant and de-risk your upgrades. Read article.