Finance
Overview
An online survey indicated that a third of all finance teams were spending at least half their time chasing unpaid invoices. Healthcare and manufacturing are among the industries devoting the most time to this task.
Linking CRM and credit control is one way to get a handle on things. Relationship managers should be able to see which of their clients needs assistance to bring their account in line. Additionally, automation within communications can help departments stay on top of difficult accounts. This is particularly important for showing financial responsibility in the bank manager’s or auditor’s office.
- Send payments reminders and statements to customers, linking to CRM account
- Chase payment at regular intervals automatically
- Set communication auto-actions - if customer does x, then y communication automatically triggered: “Thank you for your payment!”
On the other side of things, consider linking purchase orders to the budget codes they tap as well as to the approving manager. This creates a chain of responsibility that anyone can view.
- Set parameters - PO invalid unless certain fields complete
- Automate approval thresholds - beyond $x, PO must go to next manager in hierarchy
- Connect directly to departmental budget - create a live picture of budgetary performance
Outcomes
Streamlined A/R & A/P management
Effortlessly manage accounts receivable and payable, reducing errors and speeding up processing.
Accurate finance management
All roads lead back to finance with Clockworx connections. The result is more accurate and precise financial reports for stakeholders at every level.
Challenges
Managing Automation Challenges & Digital Transformation
Overcome automation hesitancy by linking legacy software with Clockworx for streamlined processes.
Managing Workforce Shortage
Target new talent and hold on to experience with Clockworx’s knowledge-sharing capabilities and external integrations.
Managing Decrease In Productivity
Bypass sluggish communications and tackle bottlenecks in productivity with immediate data and live performance insight on the Clockworx dashboard.
Managing Backlog of Orders
Link the assets, contract documentation, schedules, and other related info in Clockworx’s centralized wiki-powered database for easy access and automated renewals, maintenance, ordering and more.
Managing Resources
Place resources where they are needed and where they can give their best performance by identifying strengths and gaps with insight from Clockworx features.
Tracking Deadlines
Get oversight of all project phases, deadlines and team performance with project management capabilities on the Clockworx dashboard.
Products
Workforce Management / Scheduling System
Automate HR tasks and employee performance management with Clockworx. Customizable, role-based access to data protects personal information at every stage.
Bespoke (Custom) Solution
Clockworx is truly bespoke to every client’s needs. We integrate your own software applications, workflows and processes to build the system you need to implement your strategy and accomplish your goals.
