AgilesWorkflow for Dynamics NAV: Enhanced Credit Management Control

Posted By

You’re the accounting manager of a factory and you just received a notice that one of your customers is in receivership. You check the customer’s account and see their account has been over their available credit limit for a couple months. Yet, in the past three weeks, a few large orders shipped to the customer. Now you are upset since the collection of all their invoices is in jeopardy.

Stop processing sales orders to customers over their available credit limit!

A collection of Accounts Receivable is the last step of a sales cycle. A supplier must be to get operations going. To help the collections process, Microsoft Dynamic NAV provides credit limit warnings and Accounts Receivable aging reports. Both functions have specific abilities:

  • A Credit Limit Warning is the only notification on the user’s screen. It does not have any further action after the user closes the warning window.
  • An Accounts Receivable Aging Report is usually reviewed monthly or on a quarterly basis, which cannot identify any credit issue in a timely matter.

A workflow built in agilesWorkflow for Dynamics NAV can enhance your control over credit management by performing the following functions:

  • Provide timely notifications to credit departments when generating a new order and the amount of the sales order with the pre-existing balance on a customer’s account. This may be greater than the customer’s available credit limit.
  • Workflow will place the order to a “Pending” status to block any shipment until the credit department changes their status.

It takes only one day to design and test the workflow for existing Microsoft Dynamic NAV users with installed agilesWorkflow add-on modules. The workflow in agiles enhances the automation of credit management systems. It draws attention to the credit department as soon as a customer goes over their available credit limit. The credit department does not have to check aging reports on a daily basis. This reduces their workload and allows them to focus on other important tasks, such as follow-up on outstanding balances or on an adjustment of credit limits.

If you would like to improve your company’s credit limit safeguards, contact your BDO Client Manager or email me today.

BDO eBook - The Cloud Changes the Game

There are times in the course of your business when you have the opportunity to dramatically accelerate growth and improve day-to-day efficiencies. Recognizing