30% Liquidity of Funds increases with ORECS Follow up & Payment Collection Module, which is a simple yet useful combination of formulae which gives a dynamic and real time status about the pending payment stuck at Customers’ end.
This module helps the Management as well as Accounts Department, to keep a tight watch and even tighter follow up on collection of payment from Customers where the payment is significantly delayed and unreasonable excuses are admitted from Customers.
No matter how many times a Customer submits an excuse and procrastinate the commitment about payment, ORECS reminds the management with every next date of commitment made by the Customer. This ultimately results in Payment Receipt which otherwise would have been delayed just because nobody did a Timely Follow up.
The conversation between the Accounts department responsible for follow up of payment and the concerned person or group of person on behalf of Customer, can be tracked by the management with just a click. This increases the transparency between the management, employee as well as Customers.
Target can be set for follow up of payment on daily and monthly basis, which gives a fixed goal to the employee responsible for payment follow up on fixed interval on regular basis.