Blog Posts Process Analysis

Buying a Collections System – What Vendors Won’t Tell You #5

Blog: Enterprise Decision Management Blog

Collections system checklist

This is question 5 in your handy guide to shopping for a collections system. I’m offering 10 tips — things most vendors won’t tell you that are absolutely critical to selecting the right system.

How can I set up my month-end requirements for clients and vendors?

Like the reporting scenario mentioned earlier, no two businesses manage month-end processing in the same manner. Although generally accepted accounting principles are similarly presented within most systems, specific demands for invoicing and reporting are different by client and by market vertical.

As with all aspects of the application, the entire invoicing process must be documented for individual payments through invoicing and client accounting. Your clients and vendors will often demand to get the same information they’ve become accustomed to seeing. The details of these processes should be thoroughly reviewed.

Next week I’ll share question #6. To make sure you don’t miss it, subscribe to the FICO Blog using the box on the right side of this page.

The post Buying a Collections System – What Vendors Won’t Tell You #5 appeared first on FICO.

Leave a Comment

Get the BPI Web Feed

Using the HTML code below, you can display this Business Process Incubator page content with the current filter and sorting inside your web site for FREE.

Copy/Paste this code in your website html code:

<iframe src="" frameborder="0" scrolling="auto" width="100%" height="700">

Customizing your BPI Web Feed

You can click on the Get the BPI Web Feed link on any of our page to create the best possible feed for your site. Here are a few tips to customize your BPI Web Feed.

Customizing the Content Filter
On any page, you can add filter criteria using the MORE FILTERS interface:

Customizing the Content Filter

Customizing the Content Sorting
Clicking on the sorting options will also change the way your BPI Web Feed will be ordered on your site:

Get the BPI Web Feed

Some integration examples