Stay proactive in your receivables process with Quadient
Rating: 9 out of 10
October 24, 2023
JB
Vetted Review
Verified User
6 years of experience
This is the 2nd company I have brought the Quadient AR tool to. The AR module is a savvy way to manage accounts receivable workflows and customize them to customer preferences. We use it for all of our accounts, many is individually customized ways to provide access to the customers invoices, statements and payment activity in their own time. The tool is especially helpful to our international customers who use the self serve portal on their side without the need of waiting for my team on the PAC NW coast to respond to them. Moving our AR to the Quadient portal drastically changed our ability to receive on time payment and shaved our DSO metrics in half after just 120 days of use.
- Self serve and easy access to customer documents
- provides a full audit of all collection notes for any invoice in a single repository of data
- Allows your collection team to become more proactive on issues than reactive - the automated services Quadient offers remove a lot of the manual human tasks
Cons
- Workflows are not set up to easily choose different billing contact choices (invoice, inquiry statements to different aliases)
- Cash forecasting graphics are unhelpful and can be refined
- DSO calculation is set at 365 day average only - there are no options to view DSO averages by collector or 90 days averages
- DSO reduction by 50%
- Made our 150+ days aging nearly non existent
- Write offs drastically reduced - more than 70%
- Tesorio and NetSuite ERP
Very similar to Tesorio - more cost effective but less savvy in forecasting piece. Quadient customer service is A+. Much more functional workflow capability than NetSuite.
10
Cash App, Collections, Customer Support (specifically purchase order acquisition team) & CFO.
3
Basic Accounts Receivable skills only. The team very rarely needs to get our tech admin involved in supporting the system and that is usually to move a customer field from NetSuite into the Quadient tool only. All other tasks invlucing workflow creation, new employee set up, dunning notice creation, customer maintenance and system maintenance are easily done by the team manager.
- Supporting a strong cash flow
- Providing above average service and visibility to our client base
- DSO and financial metric improvements
- Allows the focus of collections to be on more important tasks, like acknowledging dispute issues with customers and resolving them quickly.
- We utilize workflows to acquire post shipment POs with some of our customers.
- Goal creation for the AR team - and ability to monitor stats daily making the team more competitive
- Ease of providing aging information to sales teams to quickly escalate any concerns.
- Tax exemption certificate dunning automation to ensure we always have up to date tax certs without manual review
- strengthen AR team goals (like note and touch qty reviews) to ensure team remains engaged
- Reviewing aging reports and visibility of risk factors
- workflow management for dunning
- Accepting credit card payments
- customer self service
- creating new dunning notices
- Workflow set up for enterprise accounts with different email aliases for different A/P segments (statement email vs invoice email vs inquiry email).