Esker has announced the launch of its Collections Management automation solution in Australia, building on the success of the solution in the U.S. and France. Esker’s cloud-based solution optimises collections management by decreasing costs, accelerating payments and reducing DSO (Days Sales Outstanding).

Collections management complements and enhances Esker’s existing accounts receivable (AR) offering, improving the cash collections process by automating what should be automated (e.g., task lists, collection calls needed, sending account statements and payment reminders, etc.) while providing real-time visibility on collection performance.

Automating this stage delivers numerous benefits, including:

• Higher staff productivity: Modernised tools replace spreadsheets, helping staff to better organise collections activities, maximise productivity and focus on more customer-centric, value- added tasks.
• Faster customer payments: From automated collection call lists and payment reminders to a central location for all account information, automation creates a more effective collections process.
• Increased visibility: Dashboards with live analytics allow users to oversee daily activities and monitor KPIs (Key Performance Indicators).
• Greater collaboration: Team members and customers interact on a shared platform rather than remaining siloed, strengthening the overall customer experience.

Faced with poor payment behaviour and lengthy invoice to cash conversion, Australian businesses are looking to reverse the trend and accelerate their cash collection cycle to preserve cash flow and increase their competitiveness in the region. According to a recent market study by Atradius, “Payment Practices Barometer APAC 2018,” 4 out of 10 invoices in Australia are paid late with an average delay of 32 days.

“For companies seeking to modernise the whole of their AR processes, collections management brings a number of sophisticated capabilities, from collections forecasting to dispute resolution,” said Christophe DuMonet, Managing Director at Esker Australia.

“We are confident collections management will add a more dynamic dimension to our current AR solution offering.”

Esker has also announced that Eric Maisonhaute re-joined the company in October 2018 as the new Director of Esker’s Accounts Receivable solutions to drive the launch in the Australian and New Zealand markets. Originally from France, Eric has worked in sales and consulting roles at Esker in Australia and at the company’s headquarters in Lyon, France. He has also worked for companies in the U.S. and Australia in the order-to-cash, procure-to-pay and supply chain finance space. He brings 22 years of experience with a valuable balance of technical knowledge and business process skills.

https://www.esker.com.au/solutions/order-cash/collections-management/