The collections workflow monitors the aging and total amount due reports within the accounting system. Shippers may be monitored by different criteria to flag poor or nonpaying trends. Once an invoice ages to a pre-determined (carrier based) date outstanding, a workflow is triggered that creates an email or fax that contains the freight bill and supporting documents. The documents are then sent to the shipper and the invoices is placed in a collections workflow queue based on business rules and account responsibility. The shipper's scorecard is updated with the collection status. The following day, the collections personnel process the invoice transaction in their workflow by bill-to code until all contracts are completed. This process is repeated until the invoice is removed from the aging report. If the invoice ages too long or if the total amount exceeds a threshold, the transaction is routed to upper management for review. In addition, the shipper can be set to a non-dispatch status by the collections workflow.
The Collections application within SHIPS financial process management software:
- Gathers, analyzes and identifies delinquent accounts from the accounting system
- Delinquent accounts sorted by bill to code
- Gathers supporting documentation and then faxes, emails or prints to the workflow queue of the responsible collection agent for follow up
