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SunSystems Collect module automates credit control

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25th Dec 2005
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SunSystems has added a new module to its core accounting system to help users improve their credit control.

Called Collect, the software can drill-down into SunSystems ledger data to give credit control staff instant feedback on the status of particular debts. To help collection, the module can let customers set up payments by installation or split their invoice payments.

For management reporting purposes, SunSystems Collect provides analyses of debtor days and cash flow, allowing the credit control department to better assess the credit behaviour of clients and to improve collection yeilds.

Among the program's features are an on-screen diary that records and manages notes on debtors so that all the relevant details are in one place. Action points can be scheduled for the future and repetitive tasks such as generating invoice statement and chasing letters can be automated in the diary.

"It's like a CRM system for the credit control part of an organisation," said SunSystems product marketing director Dee Houchen. "If a customer queries their invoice, the accounts clerk can get the information immediately without having to hunt around for three days. It also enables anybody to make that call because the information isn't retained in someone's head or on an obscure bit of paper."

The existing SunSystems applications have basic credit control features, but Collect is based on a third party system that was previously sold alongside the suite. The SunSystems-braded version will work with both the 4.x and 5.x SunSystems application suites.

A trimmed-down browser version of the application, SunSystems iCollect, has also been added to the package. It would allow a credit manager to visit customers and interrogate their outstanding invoices and debts from their desks, said Houchen.

SunSystems Collect would cost from £6,000-£10,000 to implement within a finance department with three credit control staff, she added.

"If you're a company with a turnover of £12m a year and you currently have 45 days outstanding by debtors, you could save in excess of £166,000 a month by reducing that figure by five days. And that's recurring revenue," she said.

"That's a proven return on investment. There are very few products that will give you that. In the current environment, Collect is the type of product that can bring a real benefit to people in their business - which is why we're bringing it out at this moment."

More information on Collect is available from the SunSystems website, which includes an online Days Sales Outstanding calculator to help users assess the potential for improving cashflow in your business.

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