Epicor P21 is advanced ERP (Enterprise Resource Planning) software designed specifically for companies in the manufacturing, distribution, and retail sectors. It offers numerous tools and functions that improve and automate various aspects of business operations, including the management of debt collection processes.

One of the greatest concerns of companies in these sectors is effective and efficient collection management. Invoicing and collecting payments from customers can be a time-consuming and difficult task, especially when manual processes are involved. However, with Epicor P21, companies can take advantage of robust collections management tools to improve cash flow and eliminate the burden of manual collections processes.

One of Epicor P21’s core collection management tools is the A/R Collections Workbench. This is a centralized dashboard that provides a comprehensive overview of all outstanding invoices and customer accounts. The tool allows companies to prioritize collection efforts based on factors such as outstanding amounts, aging balances, customer creditworthiness, and payment history. It also offers several filters and sorting options that allow companies to target specific customers or invoice types for collection purposes.

Another powerful collection management tool offered by Epicor P21 is the automatic email notification feature. This allows businesses to set up automatic emails to remind customers of overdue payments. These notifications can be configured to be sent at regular intervals, reducing the need for manual follow-up. Additionally, this feature provides real-time visibility into the status of sent emails, making it easier to monitor and track customer responses.

Epicor P21 also offers a Collection Notes feature that allows businesses to track and review all relevant customer collection communications. This tool helps you maintain a clear and organized overview of all debt collection activities, ensuring transparency and efficiency of the debt collection process. Additionally, Epicor P21 offers several reporting and analytics tools that help businesses gain valuable insight into customer payment patterns and trends. These insights can be used to create more targeted and effective data collection strategies, ultimately improving overall collection efficiency.

In summary, Epicor P21 offers a range of tools and features to streamline collection processes for companies in the manufacturing, distribution, and retail sectors. By using these tools, companies can achieve better cash flow, reduce manual effort, and improve customer relationships.