Credit collections have always been a challenge-but now, managing outstanding balances just got easier. With powerful new tools in Infor CSD and a few process improvements, your team can streamline accounts receivable tasks, reduce aging balances, and boost operational efficiency.
In this blog, we’ll explore key features that enhance your credit collection strategy, including setup tips, screen navigation, and reporting capabilities.
Start by Setting Up a Credit Manager
To make the most of these tools, start by assigning a Credit Manager in the Credit tab of the AR Customer Setup screen. This configuration allows users to generate focused reports and apply filters specific to the customers assigned to each Credit Manager.
Master the “Credit Exposure” Function
One of the most powerful tools available is the Credit Exposure button in AR Customer Inquiry. Leave the customer field blank and click this button in the upper-right corner to access a data-rich screen that supports a wide range of filtering options.
Recommended filters include:
- Past Due Periods: Focus on balances past due within a specific period.
- Amount Past Due: Example-list customers with over $1,000 past due.
- Over Credit Limit: Identify accounts exceeding credit limits by a set dollar amount.
- Callback Date: Use callback tracking to filter follow-ups.
- Unapplied Cash: Highlight accounts with excess unapplied cash.
- Total Customer Balance: See who owes above a certain threshold.
- Last Pay Date: Spot delinquent accounts based on last payment activity.
All of this data is organized and exportable. Use the “…” menu to activate tools like “Show Filter Row” or “Export to Excel” for further customization.
Leverage Note Categories for Organization and Control
Another powerful tool is the Note Category feature. Not only can you categorize notes by purpose, but you can also set security levels by category. Configure this under Table Code Value Setup and manage access through the ‘Other Options’ tab in Operator Setup.
Explore the New AR Credit Manager Workspace
Infor recently launched an AR Credit Manager Workspace-a centralized hub to manage credit and collections. Your administrator can help set this up.
Workspace highlights include:
- Aged Trial Balances
- Monthly Payments and Sales
- “On Your Radar” priority notices
- Quick Actions and Important Links
Customize the workspace to fit your company’s workflow and reporting needs.
Don’t Forget the “Old” but Gold Tools
Classic features like CAM Activities and Event Manager are still incredibly useful:
- CAM Activities Widget: Schedule tasks like “Call Customer” or “Send Invoice Copy” and assign follow-up dates.
- Event Manager: Automate email alerts for customer additions or changes to credit limit, hold period, and balance details.
Optimize with NSA’s Support
Need help implementing or fine-tuning these tools? NSA offers comprehensive support-from Business Optimization Reviews (BOR) to tailored training classes led by experienced consultants. We’ll ensure your AR team is set up for success.
Start transforming your credit collections strategy today with the latest tools in Infor CSD-backed by NSA’s expert guidance.