EXL Launches Integrated Accounts Receivables Management Solution to Address Rising Customer Demand for Working Capital OptimizationTuesday, November 4, 2014
EXL (NASDAQ:EXLS), a leading provider of business process solutions, has launched an integrated Accounts Receivables Management (ARM) solution, which combines benchmarking and best practices with state-of-the-art technology and powerful analytics to optimize working capital and enhance the customer experience.
The ARM solution, which was built on EXL’s proprietary Business EXLerator Framework and leverages SunGard’s GETPAID technology, uses sophisticated analytics for portfolio risk, and root cause analysis for disputed invoices to enhance a company’s collections strategy. In addition, the ARM solution includes a dashboard that monitors daily activity such as cash collections and disputed invoices making it the ideal tool to improve communication with customers.
“In the current environment of hyper competition, companies have to achieve an optimal balance between operating costs, working capital objectives and customer experience,” said Narasimha Kini, Senior Vice President, and Head of EXL’s finance and accounting business unit. “By leveraging insightful analytics, experienced collection professionals, and automation, the EXL solution helps companies achieve these objectives.”
A global study conducted by EXL and SunGard found that while cost reduction is the main driver behind the automation of accounts receivables, customer service is the area that benefits the most from this technology. In the study, which surveyed over 200 people from 25 industries, including manufacturing, technology and financial services, 67% of participants cited customer experience as the top concern in selecting a provider and 44% identified poor communication as the main challenge in working with a credit and collections provider.
“One example of how automation technologies can help business process providers is within the area of managing disputes and deductions in the collections process. This is an area prone to breakdown, however, a standardized workflow and tracking process cycle time can help this be dramatically improved,” said CJ Wimley, Chief Operating Officer, SunGard AvantGard Receivables. “By harnessing this technology, the accounts receivables function can become a powerful ally in increasing working capital.”
SunGard is one of the world’s leading software and technology services companies, with annual revenue of about $2.8 billion. SunGard provides software and processing solutions for financial services, education and the public sector. SunGard serves approximately 16,000 customers in more than 100 countries and has more than 13,000 employees. For more information, please visit www.sungard.com.
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