Finance

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

Streamlined A/R & A/P management

Better inform budgetary and cash flow planning by connecting the finance function to the rest of the business. Use Clockworx to get early notifications for problem areas, automatically escalate big purchase up the decision chain, and use purchase orders as a tool to inform budgetary performance.

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Accurate finance management

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.

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Challenges

Managing Automation Challenges & Digital Transformation

Overcome automation hesitancy by linking legacy software with Clockworx for streamlined processes.

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Managing Workforce Shortage

Target new talent and hold on to experience with Clockworx’s knowledge-sharing capabilities and external integrations.

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Managing Decrease In Productivity

Bypass sluggish communications and tackle bottlenecks in productivity with immediate data and live performance insight on the Clockworx dashboard.

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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.

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Managing Resources

Managing Resources

Empower your HR team to manage, train and capture resources more efficiently

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Tracking Deadlines

Tracking Deadlines

Managing all the business deadlines in one place to improve team communication, cleanness of roles and delivery results

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Products

Workforce Management / Scheduling System

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.

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Bespoke Software Solution

Bespoke Software 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.

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Changing the business system paradigm

What does Clockworx do?
Clockworx is a no rip and replace solution that integrates with your existing infrastructure and applications and is perfect for multi-stage and multi-activity processes. As a highly adaptive solution, Clockworx can be deployed rapidly and with minimal changes to existing processes whilst also offering build in project management tools and 

workflow simplification tools. 

Clockworx connects the disconnected by providing high level work flows that automate tasks that include more than one application. According to IDC, 80% of business leaders agree that they have problems as a result of applications and systems "not talking to each other". By connecting applications that don’t communicate with each other, Clockworx protects and extends your existing investments. 

Clockworx protects your investments by binding existing applications and systems together to create cohesive workflows. We do this by enabling data to be extracted and also fed back into legacy systems. We extend your investments by augmenting them with business analytics, escalation capabilities, robotic process automation, and project management tools.

Orchestration is a highly sophisticated alternative to siloed applications on the one hand and underwhelming and expensive all-in-one solutions on the other.

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