Esker Invoice-to-Cash Process

Follow SoliciumOffice's journey as they engage with our company, from customer onboarding to invoice payment and dispute resolution. This process highlights the efficiency and automation improvements across five key modules: credit management, invoice delivery, cash application, claims and deductions, and collections.

Step 1

Welcome to Esker's invoice-to-cash demonstration. Today, we'll trace the journey of SoliciumOffice, a valued customer, as they transition from onboarding to invoice payment and dispute resolution. The demonstration will emphasize Esker's role in enhancing efficiency and increasing automation across five key modules: credit management, invoice delivery, cash application, claims and deductions, and collections.

Step 2

Let's commence the process. It all begins when SoliciumOffice, eager to establish a business relationship, submits a credit application. They may have accessed a link on your company's website to generate this application, or they could have received an email prompting them to fill it out.

Step 3

After submission, the form ensures that all necessary fields, determined by your company, are completed for a thorough credit review. The application is then processed by Esker, which verifies references and consults credit bureaus to assess the customer's risk. Based on credit bureau data and internal scoring criteria, the customer's credit limit can be automatically established.

Step 4

Alternatively, a credit analyst can review the application. Upon submission by SoliciumOffice, you can quickly examine references and credit scores from associated credit bureaus. This enables you to determine an appropriate credit limit and set a future review frequency.

Step 5

You can then approve the credit application, allowing SoliciumOffice to be set up in the ERP, establishing a business relationship for future transactions. For instance, a six-month review frequency ensures periodic assessments will appear as scheduled.

Step 6

The credit management solution facilitates both customer onboarding and the ongoing review of established relationships, ensuring appropriate credit lines are maintained. SoliciumOffice can now submit orders, and we'll resume once they receive their first invoice.

Step 7

SoliciumOffice has been actively placing orders. A few weeks later, we deliver their invoice using the invoice delivery module. This module streamlines the delivery process, ensuring compliance through AP portals, EDI, email, or other methods.

Step 8

Next, we verify the delivered invoice. Using the invoice number, locate the itemized invoice on the right side, ensuring clarity and eliminating billing ambiguity.

Step 9

On the left side, confirm successful portal publication and customer viewing, reducing guesswork. SoliciumOffice now has a clear invoice with a due date, and we'll continue once payment is made.

Step 10

Upon receiving the invoice, the customer promptly made a payment of approximately $33,000 via ACH, accompanied by a formatted PDF remittance advice. Esker can automatically process, match, and apply these payments.

Step 11

Let's explore the process further. View the remittance advice on the right, indicating payments for invoice numbers 4890225 and 4890226, matching the previously delivered invoices.

Step 12

On the left, Esker intelligently validates remittance advice details, enabling automatic payment data matching in future steps, occurring seamlessly in the background.

Step 13

A warning flag indicates an unrecognized credit request. Instead of delaying processes, create a claim automatically in the background, allowing invoices to proceed as payments are applied.

Step 14

Payments are applied to invoices, and credits are investigated using the claims and deductions solution. Automatically create the claim in the background, allowing the processing of other invoices and payments. We'll continue in the claims and deduction solution to resolve the claim.

Step 15

The claims team promptly reviews the claim, following the applicable workflow. Being an unverified request from the cash application module, it requires final posting approval to the ERP.

Step 16

View the workflow and comments on both sides. Dispute the amount, as the request appears unmerited. Mark the claim as resolved.

Step 17

Resolving the claim triggers a debit note creation within the ERP, aligning with the deduction claim solution. This debit creation initiates the collections process, which we will explore next to ensure resolution and complete payment collection.

Step 18

In the collections module, the denied claim debit for SolissiumOffice triggers the collections process within collections management. Esker sends account statements and payment reminders automatically, following your company's collection strategy.

Step 19

Esker also signals when a collection call is necessary. SolissiumOffice appears for a call, which my colleague, Patricia, has already completed.

Step 20

Access information related to the call and interactions with SolissiumOffice, ensuring a comprehensive audit trail. Despite my colleague's actions, I can view the full history and notes associated with the debit collection call.

Step 21

The customer has committed to a promise-to-pay date. This information facilitates collaboration with teammates. Having received confirmation, it's now SolissiumOffice's responsibility to make the payment.

Step 22

The collections module includes a customer portal. Logging in as SolissiumOffice, you can access account statements to view outstanding invoices or debits.

Step 23

Select and schedule payments. You may pay immediately or choose a future date. In this instance, select the promise-to-pay date and schedule the payment.

Step 24

Upon receiving payment, the debit closes, completing the I2C process. This demonstration illustrates how Esker enhances the invoice-to-cash process, from credit applications to collections. Through intelligent automation and expertise in the I2C space, Esker solutions improve efficiency, reduce manual workloads, and accelerate payment cycles, ensuring customer satisfaction and financial stability.