Features of KollectValley
KollectValley is a secure hosted software platform on the cloud to help organisations better manage & streamline their Accounts Receivable & Collections whilst enhancing their Clients’ Relations. Leverage KollectValley to:
- Get Paid On Time!
- Automate Reminders via sms, emails, letters, calls, etc.
- Apply consistent A/R policies and standard operating procedures (SOP).
- Generate Customer level single e-Statements from multiple invoicing systems (e-invoicing).
- Facilitate automatic payment apportionment from a single payment for multiple invoices.
- Minimize paying GST Returns on behalf of “Delinquent Customers”.
- Manage disputes better.
- Reduce A/R headcount and reduce cost.
- Manage teams and KPI trackings better.
- Work with existing Accounting, Billing and Invoicing systems.
These are the Modules that KollectValley offers:
-   Self Care
-   Payment Apportionment
Leverage a hybrid approach of Human Collector + Electronic Collector to send sms, emails, live person calls, etc to your customers about their invoices. Send messages around key events especially thank you messages for paying.
Prepare the worklists to distribute work load and execute tasks via the system. This allows you to embed the internal standard operating procedures into the console with automatic reminders. The worklist also can be managed manually for ad-hoc re-distribution of customer invoices.
Treatments or Treatment Actions
The key to staying on top of your pending invoices is letting the customers know the current status of their invoices. Using KollectValley, you can easily automate the entire process of “Treatment Actions” when :
- An Invoice is created
- A due date is coming up
- The invoice is past due
- A payment is received for the invoice
All the required actions can be designed and deployed as treatment actions with unique templates with your own messages. The system runs automatically when the actions are scheduled. This ensures that no actions are missed when chasing for payments on pending invoices.
KPI and Performance Tracking
What is measured gets done. KollectValley allows you to have visibility on the performances of your invoice portfolio, staff performances and customer’s payments, all within the application.
2.   Self Care
Customer Self-care (A/R)
Customers today are seeking for more self-service options from their service providers or suppliers. KollectValley supports the following capabilities via its Customer Self-care portal:
- Viewing the Invoices and Payment details
- Self-generating the Statement of Accounts (SOA) details
- Providing promise-to-pay (PTP) feedback online
- Submitting and tracking complaints or disputes, online
Vendor Self-care (A/P)
Vendors are provided a platform to upload their invoices online when they are seeking payments from the company. This module allows the vendors to track the progress and steps in approving and disbursing the pending payments that are due to be paid out by the same finance team.
3.   Payment Apportionment
Payment Apportionment and Validation
For larger companies, there could be many invoices that are due to be paid by a single Customer. When the customer pays, they usually make one large payment against multiple invoices. With interbank payment (IBG) or cheque payments, the invoices' details are not mentioned at all in the bank statement for rapid reconciliation. KollectValley helps to facilitate the payment allocations by linking the invoices to the payments before they are remitted via the banking or payment systems . Once linked, the invoice details are validated and loaded back into the large accounting systems like SAP, Microsoft, Oracle, etc to enable automatic reconciliation, without manual intervention. This saves a lot of costs, time and headaches.
When a set of Invoices cannot be collected by the internal team, customers generally exercise the option of outsourcing such delinquent invoices to Debt Collection Agencies (DCA). KollectValley provides the capabilities to assign invoices to the DCA, monitor the progress and facilitate the fees to the DCAs upon successful collections of amounts due.
Reports and Pivot Tables
KollectValley provides various types of readymade reports to track the performance of pending invoices, staff performances and overall customer relationship. These include KPI monitoring, Invoice Aging Summary Listing, Top Customers, Payment Advise Listing, Collector Actions, etc. You can perform 'what-if' drill down dynamic reporting with the pivot tables within KollectValley. These drag and drop capabilities allows Collection Managers to analyse and monitor their teams, workload, payments for pending invoices and many more, online.
Who is KollectValley suited for?
If the following describe your business....
- Do you offer CREDIT TERMS?
- Do your MONTHLY INVOICES exceed 200?
- Do you have MORE than 2 AR COLLECTORS?
- Do you pay your GST RETURNS monthly/biannually?
- Do you envisage recurring BAD DEBTS?