Day-Brite Capri Omega Expands GETPAID Deployment for Improved Management of Order-to-Cash Cycle; Day-Brite to Benefit from Integrated Cash Application, Collections and Dispute Management.PARSIPPANY, N.J. -- The GETPAID(R) Corporation, the leading provider of software and services for working capital optimization optimization Field of applied mathematics whose principles and methods are used to solve quantitative problems in disciplines including physics, biology, engineering, and economics. , today announced that GETPAID customer Day-Brite Capri Omega has broadened their deployment of the GETPAID solution suite by upgrading to the web-based platform and integrating cash application with collections and dispute management. "GETPAID has allowed us to maximize resources and improve financial performance such as our days sales outstanding In accountancy, Days Sales Outstanding is a company's average collection period. A low figure indicates that the company collects its outstanding receivables quickly. Typically it is looked at either quarterly or yearly (90 or 365 days). while increasing revenue and incorporating additional divisions," states Ann Petruccelli, Credit Manager for Day-Brite. "We have been using GETPAID to manage collections and dispute resolution since 2000, achieving significant results such as a 60% reduction in dispute volume, and 15% decrease in the ratio of A/R to Sales." Day-Brite has recently opted to upgrade to the web-based GETPAID platform and integrate cash application with the credit, collections and dispute management components. "By integrating cash application with the core GETPAID solution, organizations can improve overall efficiencies and effectiveness within their credit organization," states C.J. Wimley, Senior VP of Product Planning Product Planning is the ongoing process of identifying and articulating market requirements that define a product’s feature set. See also
Coordinated cash application allows GETPAID customers to benefit from real-time posting, expedited processing and an improved hit rate. Additional benefits include the ability to expedite ex·pe·dite tr.v. ex·pe·dit·ed, ex·pe·dit·ing, ex·pe·dites 1. To speed up the progress of; accelerate. 2. the release of orders, improved compliance to Sarbanes-Oxley, and enhanced customer service. Highly Sophisticated & Fully Integrated Cash Application: Increase Productivity, Minimize Misapplied Payments & Improve Hit Rate Automate and enforce defined treatment of remittances
Remittances are transfers of money by foreign workers to their home countries. , minimize misapplied payments and improve productivity with highly configurable rules engine that leverages data from the collections and dispute cycle to improve hit rate accuracy. Accelerate Credit Decisions & Order Approvals by Minimizing Backlog Minimize cash application backlog with the ability to upload remittance Money sent from one individual to another in the form of cash, check, or some other manner. Financial statements sent by a creditor to a debtor frequently refer to the process of submitting a monthly remittance. REMITTANCE, comm. law. files in multiple formats: Lock Box, EDI (Electronic Data Interchange) The electronic communication of business transactions, such as orders, confirmations and invoices, between organizations. Third parties provide EDI services that enable organizations with different equipment to connect. , ACH (Automated Clearing House) A system of the U.S. Federal Reserve Bank that provides electronic funds transfer (EFT) between banks. It is used for all kinds of fund transfer transactions, including direct deposit of paychecks and monthly debits for routine payments to , & Spreadsheets. Expedite & manage exception processing with the creation of an Exception Work Queue and automated updates to the MICR (Magnetic Ink Character Recognition) The machine recognition of numeric data printed with magnetically charged ink. It is used on bank checks and deposit slips. MICR readers detect the characters and convert them into digital data. table. This will avoid pending orders from being unnecessarily held for past due payments by recognizing incoming payments faster. Improve Customer Service & Expedite Processing of Deductions Improve customer service and expedite processing with detailed matching rules, write-off settings, and the ability to set thresholds at the company and customer level. Reduce unauthorized deductions and expedite resolution by automatically generating disputes based on short-pays, identifying the problem owner, sending notification and tracking for timely resolution. Facilitate Compliance to Sarbanes-Oxley Apply a systematic approach to applying cash using a sophisticated rules engine with documented thresholds and tolerances, automatically detect deductions and immediately route for approval to avoid approval of unearned deductions being accepted into the payment cycle. About Day-Brite Capri Omega Day-Brite Lighting, has a rich history in the lighting industry as well as decades of experience within each of its commercial and industrial brands. These well known product lines include Day-Brite Fluorescent fluorescent having the quality of fluorescence. fluorescent antibody see fluorescence microscopy. fluorescent antibody test see fluorescence microscopy. , Day-Brite HID, NiteBrites Outdoor HID, mcPhilben Emergency and Electro-Connect wiring systems. Their commitment is to provide technologically advanced solutions to meet the specialized requirements of our customers. They offer those solutions through a highly skilled sales force that understands their customers and their lighting needs. About The GETPAID Corporation The GETPAID Corporation offers leadership, experience, and results in working capital optimization. The GETPAID suite of products allows companies to maximize their investment in time, capital and resources by automating processes and driving workflow through the entire order-to-cash cycle. Companies that implement GETPAID increase cash flow, reduce revenue leakage LEAKAGE. The waste which has taken place in liquids, by their escaping out of the casks or vessels in which they were kept. By the act of March 2, 1799, s. 59, 1 Story's L. U. S, 625, it is provided that there be an allowance of two per cent for leakage, on the quantity which shall appear , lower operating costs operating costs npl → gastos mpl operacionales , and improve their ability to meet regulatory compliance. The GETPAID Global Services Organization offers the shared experiences and best practices of over 700 implementations in greater than 35 countries; delivering process consulting, system configuration, training and on-going support optimization services to the more than 18,500 global users in a wide array of companies, industries and environments. GETPAID is based in New Jersey, USA, with offices worldwide. For more information, contact GETPAID at 1-973-463-1500 or visit www.getpaid.com. All trademarks, registered trademarks and service marks mentioned in this document are the property of their respective holders. |
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