Services

You just went live with a new Accounts Receivable solution with the hopes of great success right out of the gate.  Well, we all hope that in our daily life too but it doesn’t always work out that way.  So, you ask yourself the following questions: 

  • Why did this happen?
  • What and when did we miss the opportunities?
  • Did we not identify the current Accounts Receivable processes in a pre-work/discovery/assessment phase?
  • Did our pre-work/discovery provide the necessary information to select the best solution?
  • Once we found an Accounts Receivables solution and built a project team did, we miss details in the Design phase?
  • Did the solution miss something in the build
  • Did we not capture our requirements and test against those requirements?
  • Now that we are live how do we or who handles the challenges
  • Do we have the necessary support teams in place to ensure our solution stays current and functional such as a System Administrator

There may be more questions but let’s try to provide insight into a few of these areas and what the Optimize Receivables team can bring to the table when you are seeking an Accounts Receivable partner.  This could range from providing an assessment of your current Accounts Receivable process all the way up to supporting you and your team after a project.

  1. Before you start your project, you may not know what you don’t know.  This includes   identifying process gaps and what should be known before deciding on spending thousands if not millions of dollars on a potential solution.  This is where our team of experts come in and do an assessment of your current Accounts Receivables processes and solutions.   
  2. We want to hear your team’s voice during this phase.  We will ask questions based on our Accounts Receivable knowledge.  We involve your analysts who work the day-to-day process and see first-hand the challenges from all angles.  We involve your management team as we want to hear from them what their challenges are that impact the decisions they need to make.  We involve your IT team as they will know the systems you currently use and where the data is.  Overall, your teams’ voices can provide a wealth of knowledge.
  3. Now that we have collected all this information (data, analyst insights, etc.)  now is time to digest and analyze all these inputs.  We try to identify common themes shared by the teams and capture requirements.  All this information and data will be key in making further decisions and what the next steps could be.  
  4. We now take a deep dive into this to provide detailed recommendations.   Our team finds
  5. That your current system has gaps that you thought might have been their but didn’t truly know until we discovered it in this process.   It’s no fault of anyone.
  6. Discovery finds your internal Accounts Receivable IT, and Management teams are not collaborating but instead pointing fingers a solution may never move forward…the silo effect.  Each team focusing on their part of the process not realizing the impacts this has on the other teams. There may be a lack of communication until things break
  7. Your current Accounts Receivable processing is lacking advanced tools to assist the analysts in making decisions which could include to many manual tasks that automation and/or Artificial Intelligence could solve.
  8. Your ERP is very cumbersome to work in or also lacking key tools to assist the analysts.
  9. Based on our assessment findings we provide recommendations could be one or more of the following:
  10. Enhance your processing steps
  11. Reorganize the team into more clearly defined roles and responsibilities
  12. Develop communication internally to drive better results across all functional teams. 
  13. Provide a list of Accounts Receivable solution providers showing what they have to offer and now it fits with your current structure.  We include benefits and risks associated with each solution so you can make the best and most cost-effective decisions.
  14. You are weighting all this information to determine the best path to pursue and how to get the best results.  
  15. You have made your decisions and have now decided you need further assistance. One of the many reasons you decide you need this assistance is your team may not have the resources, experience, or knowledge necessary to keep you on your Accounts Receivable journey.    We can step in to be part of the on-going journey.  
  16. Our team of experts can assist you in:
  17. Solutions Decision:  As mentioned, before we work with several Accounts Receivable solutions who can provide one or more tools for your team.  This can be Credit, Cash Application, Collections, Claim/Deduction Management, Claim Submission, and Claim Documentation aggregation,   
  18. Solutions Implementing:  Now that you have selected your Accounts Receivables solutions partner.  The Optimize Receivables team has been involved in many Accounts Receivables implementation projects serving many in many different facets.  This includes Design, Build, Test, and Go-Live.  Our team has served in roles such as Project Managers, Business Analyst, system coders, test scenario development, completing testing, and more.
  19. Now that you have a shiny new tool the team needs to learn what and how to use the tools you have just implemented.  Our team can develop training documents specific to you by incorporating our knowledge of the Accounts Receivable process and the solution selected.  We can either hand these documents to your internal training team or we can also be your training team.
  20. You find after you Go-Live that you would like on-going support not just from your solution provider but also from us.  Even if we weren’t part of your full journey, we have team resources who have experience with the solutions to be able to jump in and be a valuable resource to you and the teams.  
  21. Depending on the solution selected and potentially limited internal resources to manage the solution we can also provide you with System Administration Support.  In this role we serve just as an advisor all the way to being your full System Administrator.  Sometimes we find the lack of your own internal resources and system knowledge can cause challenges with your teams along with not keeping up with the most recent solution enhancements.

 

Overall, at the end of the day we want your success to be our success.  We have been part of projects that missed out on opportunities or what they thought were getting short.   Let us join you on your Accounts Receivable journey.