XRT Collect offers organizations a strategic extension to existing financial systems allowing them to gain visibility and control of collections across an entire enterprise. It provides robust tools for reducing collection times and maximizing the confidence in client credit ratings and terms. Virtually all departments-finance, sales, operations-are involved in the lifecycle of a receivable. XRT Collect provides a virtual link between them, putting everyone on the same page so they can share information and act on it effectively.
"Financial professionals continue to face major challenges in finding tools and techniques that will optimize their corporations' working capital, as well as fulfill regulatory reporting requirements," said John Wlcek, general manager for XRT in North America. "XRT Collect redefines best practices in working capital management by providing the overall visibility and the focus on cash and collections wherever they are in the business pipeline."
XRT Collect includes three core modules: Credit Management, Collection Management and Receivable Intelligence. Credit Management supports and monitors financial behavioral information about each client. Integrated business alerts and client profiles provide visibility of solvency and payment profiles of a client or group of clients.
Collection Management supports the reduction in overdue payments by helping to target collections issues with clients in order of priority. With the priority evaluation and automatic workflow actions before or after maturity, the procedures of collections are optimized and client contact maximized.
Receivable Intelligence allows organizations to predict and adapt to changes in the performance of the receivables portfolio. Continual business improvements are supported with functionality such as performance analytics, cash forecasting and automated scoring. Receivables Intelligence is a critical link in the financial value chain by providing information for more precise cash flow forecasting.
XRT Collect provides a unique, user-centric design based on functional, "role-driven" dashboards. User have the ability to customize views of system-wide information based on individual roles within the organization.