|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
|
|
|
|
|
|
|
|||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
|
|
|
|
|
|
|
|||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||
What is Debt Collection
Management 3.5?
What are the features
available in Debt Collection Management? What does it strive to achieve?
What is new in Debt Collection Management
3.5?
Why the need for Invoicing
features in Debt Collection Management 3.5?
Any benefits from
the Invoicing feature in Debt Collection Management 3.5?
In any business today, having customers as your debtors
is an unavoidable fact. To be
able to stay in business and remain competitive, you must be willing to
provide good service, good pricing and most of all, provide credit terms
to customers. Most often than not, problem starts when you
have credit debtors. For smaller
number of such credit debtors, the task of maintaining their records of
debts due will be relatively simple.
However, as your business grows and the number of customers grows
at the same time, the task of keeping track of the debts due from customers
will be a daunting task.
With
this constant problems face by business organizations, it is highly anticipated
that such problems can only be solved with the help of computerized system. Debt Collection Management was therefore developed specifically to
assist businesses in managing their debt collection activities.
Not
only is Debt Collection Management designed and developed to assist businesses in collecting
debts but also helps them keep an up-to-date record of all debts owing.
There are two parts to the features
available in Debt Collection Management; the first part deals mainly with keeping track of all
correspondence, transactions or dealings that have transpired between
you and your debtors; and the second part deals with keeping an up-to-date
and detailed record of all your customers’ balance.
By having the first part of the
features in Debt Collection Management, you will then be able to organise and manage all activities
in relation to debt collection. As
all the information relating to what has taken place with all customers
are recorded in Debt Collection Management, this would in effect make calling customers for debts
owing very easy and efficient as all the information you required is available
at a click of a mouse. You will
no longer face the problem of relying on memory to recall who has promised
you payment or what was said to you or whether anyone else in your organization
has already called the debtor etc.
In fact, this feature of Debt Collection Management will
also provide you everyday with a list of customers you should call for
payment of debts owing to you. Therefore,
there is no need to fumble through your records everyday to search for
which of your customers to call. All
you need to do is refer to the list provided in Debt Collection Management, and just start calling!
To enable this feature to function
perfectly, it relies heavily on the second part of the features as detailed
below.
The second part of the features
essentially enables you to inform your debtors on the spot of the exact
and accurate outstanding amount owing.
This is especially useful when you are on the line with your customers
and they request for the details of the outstanding invoice owing to you. However, it is important to note that this
feature can only effectively work for you if the invoice records and customers’
balance are constantly updated.
Debt
Collection Management is therefore termed as the Ultimate Debt Collection
Assistant. How? As illustrated
above, the answer lies in the features available and the underlying design
architecture of Debt Collection Management.
What is
Debt Collection Management 3.5?
At
one glance, it may appear that whatever that is available in Debt Collection
Management 3.5 is also available in any accounting system.
This may be true only to the extent of generating invoice.
Debt Collection Management 3.5
has bridged the gap that is left out by most accounting system.
Debt Collection Management 3.5 provides you with the features to
organise all your debt collection activities.
For most accounting system, you are only able to generate aging
reports to check the latest status of all invoices due to you.
From these reports, you will then start calling your customers
for payment. There may not be
any feature available in the accounting system that allows you to record
down all debt collection activities that have taken place with any of
your customers. At the end of the day, the debt collection
activities remain very heavily dependent on human intervention and memory.
Now, with Debt Collection Management
3.5, once any invoice is generated using the available Invoicing feature,
the invoice will be automatically updated in Debt Collection Management
3.5. Hence, the customers’ balance will also be updated at the same time.
Once the invoice is due, Debt Collection Management 3.5 will remind
you to request the necessary payment from your customers.
The Invoicing feature in Debt Collection
Management 3.5 is designed in a very user-friendly environment. The layout of the invoice can be changed according
to your requirements and desire. All
you are required to do is to select or unselect the options available.
Thus, the types of invoices generated are suitable for all types
of trade and industries.
Debt Collection Management 3.5
also comes with a very special and useful feature of generating Customer
Statement of Accounts.
In certain accounting system, you
are only able to generate the up-to-date customer statement of accounts
after you have closed the relevant accounting period.
Without closing such period, you will not be able to obtain an
accurate customer statement of accounts.
This makes collection of debt very difficult, as the statement
produced may not be up-to-date. Also,
without such information, it would be difficult to forecast on the cash
flow status and to project the future of one’s business.
In
contrast, with Debt Collection Management 3.5, there is no need to close
any period. Once you generate an invoice, upon posting
the invoice, the customer balance will be automatically updated. If you wish to, you could generate a customer
statement of accounts up to the current invoice date by specifying the
Cut-off Date in the options available.
Debt Collection Management 3.5 will enable printing of customer
statement of accounts from any date to any date in a specific month or
from any month to any month containing all open invoices for the customer
selected and/or all customers.
What are
the features available in Debt Collection Management? What does it strive to achieve?
These are just a list of the few
vital features available in Debt Collection Management:
With the features listed above,
Debt Collection Management strives to achieve:
¨
An organized method of debt collection activities
¨
Able to manage your cash forecast easily
¨
Keeps track of promises made
¨
Comprehensive Reporting
¨
Allows user to track up-to-date status of debt collection
activities
¨
Able to keep track of payment of invoice, whether partial
or full payment
¨
Up-to-date information on Debtors
What is new in Debt Collection Management 3.5?
The most significant difference between this latest version
3.5 and the previous version is that Debt Collection Management 3.5 is now entirely developed
in Microsoft Access 2000. In order
to migrate Debt Collection Management into Microsoft Access 2000, it involves some architectural
changes at the core level of Debt Collection Management both to suit the new platform and to
increase the efficiency level of Debt Collection Management 3.5.
Result: outstanding performance achieved for Debt Collection Management 3.5!
The other significant change is that we have decided
to combine both Debt Collection Management and Debt Collection Management
Invoice into a single product. With this new Invoicing feature, Debt Collection
Management 3.5 now allows you to generate invoice from Debt Collection
Management itself. By doing so, all invoices generated will automatically be recorded
in Debt Collection Management and thus updating the customers’ balance
automatically.
The other changes are more at the user interface to provide
a better representation of the relevant modules and options under their
respective categories. This serves
to provide users with a better way of operating Debt Collection Management to realize its full
potential as a debt collection assistant.
Why the
need for Invoicing features in Debt Collection Management 3.5?
When you mention the word “invoice”,
the next word that springs to mind is “accounting system”. This is the conventional way of generating
invoice. Most of the time, generating
invoice by using accounting system is not as simple as it seems. It usually involves a lot of set up routines
and procedures before an invoice can be generated.
In
any business transaction, one will inevitably have to generate invoice
so that you will be able to collect payment from your customers. In the case of business entrepreneurs who are just starting out
or always on the go, they would just turn to using spreadsheet and other simple application software to generate
invoice instead of operating an accounting system. With this alternative method, even though the
part of generating invoice is fulfilled, the other part of having a system
to keep track of invoice due and payments received is not fulfilled. This latter part is usually done by having
another spreadsheet or just manually.
After thorough research on the
market trend and situation, we at Quantum Generations have concluded and
recognised that this is an unfulfilled requirement for businesses and
entrepreneurs. The solution to
this: to include Invoicing features in Debt Collection Management 3.5!
With the new Debt Collection Management
3.5, you will no longer require an accounting system just to generate
invoice. Coupled with the existing features of keeping
track of all payments received (be it full or partial payment), you will
have a Simple & Neat Billing System without the complications
and complexities of an accounting system.
Any benefits
from the Invoicing feature in Debt Collection Management 3.5?
The foremost benefit is that with
the Invoicing features in Debt Collection Management 3.5, it will fulfil the requirements of
businesses that want to avoid the complications of operating an accounting
system merely to generate invoice.
Debt
Collection Management 3.5 allows you to generate invoice with a centralized
invoicing system. This means that all the invoices generated
will be in auto-running numbers and therefore there will not be a problem
of generating invoices with duplicate numbers.
You will also be able to do away with keeping track of your invoice
numbers manually. All the information
relating to invoicing and your customers’ outstanding balance due to you
can be found in Debt Collection Management 3.5.
In
essence, Debt Collection Management 3.5 actually provides you with all the necessary and relevant
information that is recorded in the Accounts Receivable of any accounting
system. In any accounting system,
the reason why Accounts Receivable module is so important is because this
is the module that stores the core information of any businesses i.e.
customer information and total debt due.
Now,
with a fraction of a cost and without the complications of an accounting
system, you can now have the full feature of an Accounts Receivable. Further, the graphical representation of your
customers’ payment history will provide you with an idea of which customer
you should be cautioned. The availability
of information relating to the cash flow status also enables you to properly
plan your company strategies and activities.
From the above, the inevitable conclusion
is that Debt Collection Management 3.5 not only helps in businesses who just require an application
software to enable them to generate invoices without the hassle of an
accounting system, it also helps businesses keep track of all debts due
to them as well as taking care of all activities necessary to collect
debts from customers. For businesses
that just require a “billing system” and not an accounting system, Debt Collection Management
3.5 would definitely be suitable.
The generating of reminder notice
is an added useful and necessary feature to assist you in obtaining payment
from your customers.
To evaluate Debt Collection Management 3.5, we have provided
you with an easily downloadable version.
Just click here to download.
If you would like to know more
about Debt Collection Management 3.5 or have any inquiries, please e-mail
to us at dcm@quantumgen.com or call us at 6-03-7958-6612
or fax to us at 6-03-7954-9064.
No need to evaluate? Just
want to buy now? Simple ---- just click
here! Thank you!!
