Archive for Credit Management

Anachron and Credit Tools team up to bridge the gap between e-invoicing and credit management

Anachron and Credit Tools announced to join forces to streamline and connect the many processes related to e-Invoicing and credit management. The focus of this partnership is the new Credit2Control solution, available as part of Anachron’s recently launched Order2Cash platform.

Invoicing and credit management are both core components of the order to cash cycle but many businesses divide the work across separate departments. This can cause unnecessary delays in the overall time-to-payment and make credit management, in particular, quite a re-active process. Credit2Control bridges those gaps effectively, making it possible for credit management to begin much earlier in the cycle.

Credit2Control

Credit2Control is one of the core components of the Order2Cash platform. Customers can integrate its credit management tools with e-Invoicing (Invoice2Deliver), online payments (Accept2Pay) and other functionalities in order to build a single enterprise solution for managing the entire order to cash process.

Credit2Control makes it possible for credit managers to oversee all financial and customer history information through a single platform. They can gain access to the latest credit reports for all prospects, customers and suppliers. Armed with this information they can quickly tailor workflows, timelines and specific payment rules for different target groups or individual customers. This will help them to monitor business risk effectively, accelerate payment timetables and rapidly reduce their DSO levels.

Frank Hoekstra, CEO at Anachron:
“Anachron’s goal is to make finance go faster Linking e-Invoicing with credit management has been a key objective of ours in building Order2Cash and working with Credit Tools has enabled us to bring that vison to market. The Credit2Control solution addresses more than just process management for outstanding invoices and bad debt; it gives companies an efficient and cost-effective means to protect their cash flow levels by introducing a more pro-active credit management process. It also provides them with a wealth of financial data that they can use to make accurate payment forecasts, using hard facts and not guesswork.”

Pim van Hagen, CEO at Credit Tools:
“Anachron and Credit Tools work well together as we share a common vision; to accelerate the order to cash cycle. Like ourselves, they understand the importance of credit management to the financial health of an organization. Merging our competences into the Credit2Control solution gives customers access to a complete overview of their financial data, which they can analyse to inform their underwriting decisions. They can manage and strengthen their ongoing relationships with receivers and suppliers and ultimately protect their bottom line at all times. We are sure that companies around the world will instantly recognize the value that Credit2Control can deliver to their business.”

More information on Credit2Control, and the full Order2Cash solution, can be found at www.order2cash.com

Anachron launches revolutionary Order2Cash solution.

Anachron launches revolutionary Order2Cash solution. “The future of order to cash is now!”

This powerful SaaS solution integrates a range of services to create a complete, end-to-end global order to cash platform, suitable for all businesses, covering everything from the placement of an order through to the collection and application of payment.

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In 2014 over 130 companies connected with Anachron’s InvoicePortal

InvoicePortal makes it easier for companies to forge deeper, stronger business relationships. This helps them to save costs across their organization, reduce Day Sales Outstanding and improve their bottom lines.

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30 percent of invoices in Hong Kong are paid late! What to do?

January 13, 2015  |  Asia, Credit Management, Payment

There is nothing quite as gratifying as receiving a cheque in the mail from a customer, or an SMS notification from the bank announcing the arrival of payment for services rendered. Late payments, on the other hand, can signal cash flow disaster for growing small businesses.

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eFinans market leader in Turkish e-invoicing in its 1st year

eFinans separates itself from the rest with its ERP integration with 45 local and global ERP software thus able to capture 90% of the e-invoice users using an ERP system. Its webportal has also been developed to match a typical invoice module of an ERP in order to serve small Business requirements.

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Anachron’s Invoiceportal selected by Lithuanian VSA for full purchase to pay

VSA was looking for an electronic invoicing solution that could easily be extended with order to cash services, such as credit management features. Anachron was the only provider that was able to effectively service the entire order to cash cycle. Connecting VSA with Anachron’s InvoicePortal means the next international user for the already successful InvoicePortal.

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Can paper billing still be more cost effective than e-invoicing? Yes it can!

Can paper billing still be more cost effective than e-invoicing? Yes it can!

A Danish Energy provider decided to test with a population of new customers whether switching to paper invoices would improve the speed of payment. It also wanted to know whether digital invoices were cheaper than physical mail in regard to overall operational costs.
Shockingly it found out that sending invoices via e-mail actually increased their overall costs: it cost the company $3.25 per customer to get paid by paper invoice and $5.75 per customer billed by e-mail.

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Wowsers! Fundbox wants to streamline a 12 trillion dollar B2B (e)invoicing market.

Fundbox acts as a microlender for small businesses that cannot afford to wait for money from clients that can often take up to 90 days to arrive. Fundbox identified this as an underserved space, in that banks tend to be reluctant to lend to small businesses, particularly in small amounts.
Fundbox says that the business-to-business invoice area is worth $74 trillion, a much bigger market than the $3 trillion business-to-consumer one that includes competitors like Visa, Paypal and Square.

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Loven Trucks connects automatic credit management to einvoicing via Anachron

Loven Trucks connects automatic credit management to einvoicing via Anachron

Last year, Loven Trucks started e-Invoicing with Anachron’s InvoicePortal since some 18 months. And now it is time to take the next step. Soon, the unpaid invoices will also receive the attention they require, as they will be connected to InvoicePortal’s Credit Management module. RELEAD, the company behind the Dealer Management System used by Loven Trucks, build the connection between TruckVision and Anachron’s InvoicePortal.

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Anachron and MaxCredible team up to fight against unpaid e-invoices

a recent customer survey held among Anachron’s e-Invoicing clients showed that over 75% of the respondents saw an online credit management software solution as an important addition to electronic invoicing.
That is why Anachron and MaxCredible have joined forces in the e-Invoicing and credit management domains. From now on, it will be possible to use the credit management software of MaxCredible to give unpaid invoices the attention they require, entirely automatically.

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