GRM Information Management, a leading provider of enterprise content management (ECM) solutions is expanding its financial and accounting solutions with its enhanced Accounts Receivable (AR) Workdown product
GRM Information Management, a leading provider of enterprise content management (ECM) solutions is expanding its financial and accounting solutions with its enhanced Accounts Receivable (AR) Workdown product.
Particularly in industries where mergers and acquisitions are commonplace, there tends to be multiple, active Accounts Receivable software solutions. This often proves problematic as it makes the collections process more inefficient and increases the probability of errors by virtue of Accounting staff being unfamiliar with the full breadth of active systems. Or worse, data is sometimes lost and accounts become uncollectible by virtue of system failure or sunsetting of the system.
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All of these downsides can be avoided with the adoption of the Accounts Receivable Workdown solution. With the adoption of the solution, data from all systems is consolidated in the highly-reliable and secure GRM cloud platform. Once all of the data is consolidated, it’s normalized and organized to mimic the interface and functionality of the primary Receivables system that staff is accustomed to using. This adoption allows for other systems to be retired and improves the efficiency with which staff collects Receivables.
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GRM CEO, Avner Schneur states that “Our AR Workdown solution demonstrates how quickly our platform can deliver value. This is a perfect example of rapid implementation and simple integrations yielding a really substantial and near-immediate payoff.”
And in addition to the core functionality of the solution, the platform can also house and organize important, related receivable documentation such as remittal advice and denial letters that prove critical in resolving the more complex Receivables challenges quickly.
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