Avolent Introduces BizCast 6.0

Monday 21 March 2005 15:12 CET | News

Avolent Inc., a leading provider of eBilling and Cash Flow Optimization software, has released BizCast(TM) 6.0, their award-winning solution for streamlining all the financial interactions between a corporation and its customers such as invoicing, collections, payment processing, and reconciliation.

BizCast(TM) 6.0 builds on the success of its real-time eBilling platform to provide a suite of new capabilities for CFOs and Treasurers to accurately predict and control cash flow, including cash forecasting, customer profiling, and trade term management. This enables corporations to increase margins by 1-2% while reducing Days Sales Outstanding (DSO) by 3-10 days. BizCast(TM) 6.0 is the first software to provide cash flow optimization capabilities based on an eBilling platform, presenting a range of capabilities previously unavailable to finance professionals in existing ERP and Treasury systems. For example, with BizCast(TM) 6.0 a finance professional can: * Accurately predict inbound cash flow based on real-time information on the status of all invoices, not just historical information * Forecast inbound cash flow based on unique customer payment profiles, not outdated models * Increase cash flow by instantly changing all trade discounts/interest penalties without having to print a single invoice The CFOs Dilemma: Predicting and Controlling Cash Flow In todays post-Enron environment, companies are publicly castigated for missing sales and cash projections. However, according to a recent study by CFO magazine, almost two-thirds of medium to large companies lack the internal expertise to improve cash management and forecasting. Avolent, a leading provider of software made specifically to improve financial processes with customers, recognized the need to solve, what has been historically, the most complicated issue facing CFOs and financial management executives -- insight and control into inbound cash flow. To provide both insight and control, CFOs cannot depend on existing Treasury, Business Intelligence, and A/R systems that rely on historical data for forecasting and provide no capabilities to proactively control your forecast should it need to be changed. Avolents key insight was to build these capabilities on a real-time system like eBilling that would provide accurate forecasts, ensure processes are controlled and enforced, and allow for the dynamic changing of trade terms to influence customer payment behavior. By complimenting existing systems with BizCast 6.0, finance professionals can now reduce operational risk, accurately track cash flow through the organization and effect change in receivables by dynamically adjusting trade terms to meet corporate financial goals. BizCast 6.0 Provides Real-Time visibility into the Invoice to Cash Process BizCast(TM) tracks all financial activities and events between a corporation and its customers in real-time, from the moment an invoice is sent to a customer, to when the payment is reconciled (together, these processes are known as the invoice-to-cash cycle). By tapping into this rich data source, BizCast(TM) 6.0 becomes a powerful platform for providing insightful, tangible and strategic value for its customers. Examples of this new functionality include: * Customer Profiler: Using the Customer Profiler, a credit, collections, or CSR agent can quickly review the financial history of each customer (e.g. payment history, past due balances) as well as the relative performance to similar customers to understand their payment profile. The Customer Profiler can help identify recent changes in account status, how payment behavior changes due to industry seasonality, cyclicality, or size of the invoice. * A/R Dashboard: Provides the Controller and VP of Finance with real-time financial reports, receivable alerts, customer profiling, and cash flow reports that allow you to quickly determine the root causes of changes in financial performance, and suggest courses of action. Optimizing Working Capital by Controlling Financial Processes BizCast(TM) 6.0 goes beyond forecasting and profiling to provide the unprecedented abili

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Categories: Payments & Commerce | Payments General
Countries: World
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Payments & Commerce