FRM fills the gap in the enterprise software landscape |
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Today's executives are in a fierce battle to lower costs while maintaining the highest levels of customer service. They seek avenues to grow their business and gain competitive advantage while also pursuing improved methods for reducing DSO and applying cash. Although some business processes have moved to the Internet, most financial transactions remain paper-based, yielding high costs, cumbersome manual processes, and poor customer service. An effective FRM solution integrates and extends financial information from a variety of back-office systems, including billing, payment, logistics, customer information systems, as well as ERP. FRM also complements and integrates with front-office systems such as CRM and e-Commerce applications. |
Handling of invoices, reconciliation, disputes, reports and payments are typically executed manually via paper and phone calls.
The Gartner Group estimates that a typical supplier wastes up to $6 million per year in completing financial transactions manually. The solution to these problems involves three critical advancements:
- Paper Documents should be converted into electronic format
- Data should be easily accesible to all individuals in the supply chain in order to effectively complete transactions
- Tools should be available to streamline interactions, reduce efforts, and eliminate manual processes associated with invoicing, payments, and the analysis of expenses
NuMoon's BizCast, for Financial Relationship Management (FRM) and Electronic Invoicement Presentment & Payment (EIPP):
- Streamlines financial transactions
- Reduces service costs - improves customre relations
- Reduces Days Sales Outstanding (DSOs) - maximizes cash
- Streamlines reporting and enhances analysis
Features |
Functions |
Benefits |
Invoicing |
Electronic invoice delivery |
Lower invoicing costs Reduced fallout or "lost" invoices Low cost approach to consolidation |
Process Management |
Invoice approval workflow Automated dispute resolution and credit Memo handling |
Accelerate cash cycles - reduce DSO Faster dispute resolution Better service through online dispute tracking |
Decision Support |
Drill down reporting and analysis Cash forecasts and expense breakdowns |
Low effort to create account usage reports More accurate cash forecasts |
Enterprise Access |
Ease of use for the entire enterprise Role-based security |
Greater visibility into account buying patterns Low effort to handle complex business rules and corporate account approval processes |
Online Account Management |
Manage multiple accounts Account aging reports |
Corporate accounts self service Lower cost to serve corporate accounts |
Payment |
Electronic payment and remittance Annotated payments Payment status tracking |
Reduce paper payment processing costs Improve cash application Reduce costly payment exceptions |
Visit NuMoon Technology |
http://www.numoontech.com |
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| Request a private one-on-one web demonstration of Processes On Demand |
