Customised AR Customer Reminder Letters Utility Facilitates Timely Payment Collection

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Highlights

Industry: F&B, Retail and Consumer Products 
Solution: Customised utility for Sage 300 - AR customer reminder letters 
Results:  

• Greater productivity
• Collect more timely payments
• Eliminate risk of overlooking outstanding payments

Challenge

A leading writing instrument manufacturer spent much time on manual tracking of numerous payments owed by its large customer base. Its finance officer had to manually check the accounts receivable (AR) ageing report every week to identify customers with outstanding payments that were due according to the respective credit periods. Manual preparation of payment reminder letters was time-consuming, with a high risk of overlooking some outstanding payments. Seeking to facilitate payment collection, the company turned to Stone Forest IT (SFIT) for a solution.

Solution

After consulting with the client, SFIT proposed a customised utility for its Sage 300 accounting system that automatically generates payment reminder letters based on the credit terms. Its capabilities include:

• Automatically generate and send tailored payment reminder letters with subject lines that indicate ‘Reminder’, ‘Urgent Reminder’ or ‘Final Reminder’ depending on the proximity to the payment due data
• Consolidate all reminders in a spreadsheet for easy tracking every month

Results

After implementation, the client enjoyed the following benefits:

• Greater productivity
• Collect more timely payments
• Eliminate risk of overlooking outstanding payments

SFIT leverages its vast experience in providing customised solutions for Sage 300 to help businesses enhance their productivity.