Product news
Financial insights limit your credit risk
Written by
From the Spring Release this year, Exact Online for Wholesale and Manufacturing contain a new feature called 'Financial insights'. This feature delivers essential financial insights during the order intake process. Actually, when entering the customer in a new sales order, a popup is triggered automatically when needed, showing the amounts of (overdue) accounts receivable, open invoices and orders.
The financial insights feature has been created to reduce your credit risk. The first statistics show that this feature is not a gimmick. Within one month of usage, the popup was triggered at more than 500 companies based on over-run credit limits, and over 3.000 times triggered by A/R's overdue!
Based on the popup, one can reduce the risk and decide e.g. to first contact the customer to discuss his financial state before processing the order.
The popup provides a clear and simple graphical overview of:
The popup provides a clear and simple graphical overview of:
- Accounts receivable A/R (within the payment term) in blue, A/R overdue (overdue invoices, with an expired payment term) in red. The actual values are shown as well, just above the graph. Customer feedback learned that our users are even more interested in overdue invoices than in exceeding credit limits;
- Ongoing invoices Invoices that are not yet processed and maybe waiting for other orders to be included;
- Ongoing orders Orders that need to be invoiced, either completely or partially;
- Credit usage (which is basically the sum of the above), with a plotted credit limit ‘red line’ as defined for this customer.
