Aston AI Cash Collection is asoftware as a service ( SaaS) credit management and collection solution. The software is used internally by account managers, accountants and/or credit managers in SMEs, ETIs, major accounts and multinationals. ASTON iTF is a Fintech capitalizing on Cloud, Big Data and AI technologies. The platform’s aim is to enable users to get rid of time-consuming administrative tasks that add no value, so that they can concentrate on handling disputes and difficult customers or those with payment difficulties. By automating 80% of tasks, the credit manager can reduce overdue receivables by 50%, speed up the collection of trade receivables, and reduce costs.accelerate collection of trade receivables, reduce financial risk, and preserve and maximize the company’s cash flow. The platform offers many other advantages for reducing DSO(days sales outstanding ) to optimize WCR (working capital requirement):
- intelligent automation of collection actions,
- dashboards with customized indicators simplifyanalysis of collectionperformance , and help identify receivables that need to be prioritized,
- behavioral scoring based on customers’ payment habits is analyzed in real time, enablingrisk anticipation
Good to know:
- immediately available online, 1-month free trial at no cost or obligation.
- This collection software offers perfect interoperability with accounting systems (SAP, Sage, Cegid, etc.). It is also available as a simple excel file.
- No more it integration, no more set-up delays!
« Un dispositif complet pour permettre de résister, préparer et sécuriser le plan de reprise de l’entreprise. »
To learn more, read our guide: Credit Management.
Every company works on its cash flow forecasts and considers the financing options available, but fewer have put in place a comprehensive system to secure available cash and release financial resources. The HR & Remuneration Survey published on the AFDCC website takes stock of the challenges facing the Credit Manager profession, a pivotal position in company management and financing.
The Credit Manager’s role continues to strengthen and broaden, taking on a coordinating role of the “Cash Controlling ” type alongside the Treasurer, Accountant, Management Controller, Purchaser and Supply Chain. They all work together to reduce working capital and share their knowledge of markets, customers and production cycles, so as to be able to monitor differences between DSO and DPO.
“Involving operational staff in cash management is, for financial staff, a better way of controlling operating cash flows and balance sheet KPIs (receivables, payables, inventory).”
What tools does a credit manager need to prepare and secure a company’s recovery plan?
In a context of crisis, it is important to acquire tools and find new sources of information to anticipate default risks, reduce payment times, analyze customer profiles and secure business recovery plans.
“The importance of data: steering business, monitoring risk indicators and optimizing collections.”
Statistics show that payment experience is a key indicator, with the majority of companies in bankruptcy having experienced random payment behavior.
The analysis of payment experiences helps Companies to gain a more accurate idea of the actual payment behaviour of third parties, by creating an indicator that reveals the probability of being paid, helping to better protect against bad debts.
“The use of a business solution to monitor activity and initiate collection procedures as early as possible.”
Now, more than ever, companies are keeping a close eye on their cash flow, with some entrusting their receivables six times earlier! As their business slows down, many of them are now looking to accelerate the collection of their invoices. Not only do companies need cash to replenish their treasuries, but they are also anticipating their collection processes for fear of future customer defaults.
6 reasons to equip yourself with data-augmented accounts receivable collection software.
Feedback shows that 80% of collection tasks have been automated, and our customers are seeing a 30-50% reduction in late payments: better performance analysis, more targeted and increased reminders, and a stronger focus by teams on critical files thanks to the time freed up by automating tasks.
To meet a global need in the credit function, from the need for information to the need for rapid access to liquidity, Creditsafe and Aston AI have decided to adopt a joint approach for SMEs wishing to optimize their cash flow.
“Platform as a Service? A turnkey solution: data – business solution – financing.”
Creditsafe data for data intelligence and the Aston AI platform, which manages the reduction of payment times (DSO, dunning – collection), covers the risk of non-payment (credit risk management) and, through its partner BNP Paribas Factor, offers access to receivables financing.
Diane Quenault de St Sulpice, Creditsafe Market Director, explains: “This is a triple benefit for Companies, whatever their size: our joint solution provides indicators (solvency, payment behavior, credit limits, liens) and gives the opportunity to have a steering tool enabling finance and credit management departments to optimize WCR, and to access financing lines to fund business recovery. In this context, factoring is a high-performance tool, having become the leading short-term financing technique since 2018, including dunning and payment guarantee.”
Aymeric Dupas, Managing Director of Aston iTF, explains: “Because the Credit Manager is the guarantor of DSO and WCR optimization, he must constantly juggle between an objective analysis of accounting data and taking into consideration numerous “human” variables that condition the analysis of customer risk and, ultimately, the company’s overall commercial strategy. The contribution of technology, in particular the combination of Cloud, Big Data and Artificial Intelligence, facilitates decision-making and boosts productivity to reduce WCR.”
You can also find more information on the subject :
Logiciel de recouvrement de créances – Pourquoi automatiser la relance ?
Réduire son DSO : Quels sont les principaux indicateurs ?https://astonai.com/logiciel-recouvrement-des-creances/
See also: Cash Flow and Working Capital Optimization with Redbridge.
