By using FVCM technology, you can embed internal controls and thereby institute a more compliant and standardized approach to your accounts receivable.
The Aberdeen Group has been conducting research on FVCM and has identified companies that have successfully implemented these solutions.
The Aberdeen Group states that the new FVCM products and services being developed will help companies with risk management by offering a more sound method of monitoring customers, resulting in less write-off of bad debt, less fraud, and fewer extended payments.
By implementing an FVCM solution that sits on top of any ERP or A/R system, you can still leverage the foundation provided by that underlying system while protecting yourself from technological changes and market shifts.
Rather than operating as two separate forces, sales and finance can use FVCM tools to improve customer response times and decrease the billing cycle.
An enterprise FVCM solution is comprised of tools that enable companies to gather and disseminate internally and externally stored information, provide users a single and centralized access point to your organization, facilitating online collaboration and managing customer expectations.