Article

Use Microsoft Dynamics AX to Speed Collections with More ‘Dynamic’ AR Statements

by Dan Gangai
Director of Product Management, Create!form Bottomline Technologies,

One of the first casualties of the current economic weakness is often Accounts. Collection times have a way of lengthening, as cash conservation becomes an ever-more-important goal for many companies.

This is the time when something we call transactional document automation projects can be extremely important. Through the use of add-on document process automation solutions, it's possible  to quickly create document-centric applets without the more costly X++ coding required to make corresponding customizations to Microsoft Dynamics AX.

In this column, I focus on Accounts Receivable (AR) Statements. The ROI that can be achieved by transforming your approach to these statements is quickly realized when Days Sales Outstanding (DSO) is reduced by even a few days. The objective of this process is to encourage customers to pay sooner by tailoring the appearance and delivery of the statement to effectively communicate receivables due and payment expectations. This can be as simple as displaying the appropriate branding so that recipients know where the invoice should be directed for approval or including supporting documentation to avoid unnecessary customer service inquiries.

Maximizing Your Brand Identity

Within Microsoft Dynamics AX, the most commonly used report for customer statements is the "customer external account statement," which is launched from the AR-Reports-External menu item. Quite often the only customization done to this report is to add a company logo. Adding one logo per company account is easily done via the Company Information form under the Basic-Setup menu item. Besides basic branding, other enhancements to consider include:

  1. Changing branding based on customer type or customer location
  2. Changing payment reminder messages based on past due status
  3. Adding attachments to statements (e.g. related invoices, collection notices, newsletters, marketing collateral)

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Dynamics AX Financial Management
About Dan Gangai
Dan Gangai serves as director of product management for Bottomline Technologies, and possesses extensive domain expertise in document process automation and ERP systems, including Microsoft Dynamics. In his present role, Dan works closely with organizations leveraging Bottomline’s Create!form product suite to optimize their investment in Microsoft Dynamics AX through more efficient and cost-effective transactional document processes. Prior to joining Bottomline in 1999, Gangai served as a consultant specializing in ERP implementations with a specific emphasis on tailoring reports to meet strategic business needs.
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