Prior to Cforia adoption, reports for tens of thousands of slot machines were tracked manually with the result that many system reports got lost in the paperwork. Advanced A/R automation with Cforia Software’s A/R Workbench assures that every report is received, gets invoiced and followed up for prompt payment.
In 2008, with five primary division sites, Dorman realized that it had outgrown existing Accounts Receivables processes and systems. With five separate ERP instances, this introduced complexities associated with multi-currency, and five sets of terms and account numbers. Cforia immediately took ownership of synchronizing data from all five of Dorman’s ERP instances, providing a unified view of it’s data.
In 2009, with 132 divisions and 67 disparate ERP systems, Thermo Fisher Shared Services Center realized that it would not be able to build out A/R Automation with a Cforia Software competitor that had been selected at the corporate level. After switching over to Cforia’s platform, a 40% reduction in DSO was realized in their Shared Service Center after the first year of going live.
Prior to Cforia Software, Sennheiser’s collection processes were manual and involved using PDF reports derived from their JDE system. Running all A/R related activities from the Workbench doubled call volume per collector. Prioritized call queue creation improved the quality of calls that were made by assuring that all customers who need to get called were contacted.
Before automating with Cforia’s solution, numerous manual methods including Outlook Calendars, Post-It Notes, aging reports and Excel spreadsheets were used to manage a Collection Agent’s day. Lack of visibility and collaboration in resolving disputes was an ongoing issue for the deductions team as well. The Cforia Deduction Collaboration Portal has allowed them to recover between $1.6 to $1.8 million annually in unearned deductions.
Textron chose Cforia because their connector is the only SAP certified connector in the A/R automation space. A relatively short 10 week project enabled them to go live on a near real-time system. Automated electronic statement delivery has been leveraged to drive down greater than 30 day past due receivables.
Bray International’s biggest credit and collections challenges stemmed from its global status and multiple locations worldwide. Collecting money across these locations meant dealing with 10 languages, 20 currencies and 60 ERP databases from 7 disparate ERP vendors. Bray chose Cforia because of its ability to seamlessly integrate across multiple platforms without having to maintain manual consolidations and spreadsheets.
Citizen Watch is recognized as the world’s largest watchmaker and a leader in advanced technology. Their previous software platforms made it difficult to handle large deduction volumes associated with Big Box Retailers. Cforia’s real-time integration connectors allowed the A/R Department to work with real-time data and release held orders within the system as well.
Cytec Engineered Materials faced several challenges when creating a new Global Shared Services Center based in Riga, Latvia. The company operated from at least five different ERP systems, and collected in numerous currencies and languages. Cytec chose Cforia because of their ability to seamlessly integrate across multiple ERPs, plus handle global requirements.
Cessna Aircraft’s biggest credit and collections challenges stemmed from the company’s reliance on six ERP and billing systems to run their business, with SAP as the primary financial reporting system at the corporate level. The disparate systems were loosely integrated into SAP, causing the creation of multiple invoice numbers for the same invoice. Cessna needed a solution to integrate seamlessly across these systems.