Improving cash flow, reducing bad debt, and facilitating the revenue management process
Revenue management is essential in every business – and every law firm wants their clients to pay invoices on time and in full. Effective revenue management should prevent overdue payment or non-payment from occurring. Too often, this is complex and labor-intensive. Aging receivables and failures to collect inevitably waste time and erode profit. The ultimate goal should be driving down write-offs and outstanding debt so that fees billed become fees collected.
Quickly assess customer credit risk, improve invoice management, and maximize payment visibility
Specifically designed for law firms, Snap Collections revenue management delivers fully integrated collections and revenue management capabilities. It affords greater visibility and enables enhanced collaboration, avoiding complications in the collections process.
- Minimize manual errors and stop wasteful inefficiencies from occurring
- Access receivables information and action items through mobile
Snap Collections revenue management automates processing, posting, and confirming invoice collections. It utilizes financial data to set triggers that alert users when action is needed. Reducing manual tasks eliminates errors and enhances statutory compliance. The solution provides a real-time view of revenue management, prioritizes work for revenue management professionals, and allow them to focus on the on bringing funds back to the firm.
- Reduce your current levels of write-offs and write-downs without delay
- Become aware of potential bad debts and then act quickly to enforce them
- Turn more of your valuable billable hours into promptly collected fees
- Avoid unnecessary complications and problems during the collection process
- Simplify the many complexities in your accounts receivable system
- Prevent overdue payments from becoming a long-term headache