Spotlight on: remittance advice
Find out more about our Zetadocs remittance advice solution
We are excited to share our next blog post in our ‘Spotlight on’ series. Our last post in this series went deeper into our electronic invoicing solution, you can find the post here.
This post delves further into another document management solution: sending remittance advice.
Our Zetadocs solution enables individuals to make the lives of their suppliers easier by sending out consolidated remittances to let them know when to expect payment or once they’ve been paid. This also enables users to automate repetitive tasks, increasing staff productivity.
Watch a short demo to see remittance advice in action:
With Zetadocs, you can send remittances electronically to a specific contact, or multiple contacts in your suppliers’ accounts receivable team. The remittance goes to the correct recipient according to the Zetadocs Rules you have set up for each contact. You can define directly on the vendor card the specific contact and email address to send remittance advice emails to.
There are multiple benefits of implementing our Zetadocs remittance advice solution, including:
Better supplier relations
One of the most important advantages of implementing our remittance advice solution is how it nurtures and builds better supplier relations.
Letting your suppliers’ accounts team know when they’ll receive any payment(s) is not only a courtesy, but it also helps them to match payments with the correct invoices.
This ensures they have the information they need to process your payment efficiently and avoids the risk of the remittances getting lost, which can result in wrong payment allocations and confusion in reconciling statements and balances with your suppliers.
Automate repetitive tasks
Another major gain of this solution is the time and effort savings it brings about.
Zetadocs offers flexibility to send remittances directly from the payment journal or after payment from the vendor ledger entries. This is also helpful if you need to resend misplaced remittances. Zetadocs can be fully automated so that it sends remittances when you post your payment journals.
Additionally, Zetadocs enables you to set rules around your chosen delivery method. If any of your suppliers still prefer to receive hard copies, the printed output can be sent as a batch to an internal user to print off and post in the mail to your supplier. Copies of these remittances can be stored in the electronic archive for wider internal collaboration too, so that supplier account managers can keep tabs on when their accounts will receive payment.
Not only does this increase staff productivity, it also allows employees to focus on their more important responsibilities.
Reduced reliance on paper
This may be a benefit that is related to most document management solutions, however, with respect to remittance advice, it is especially true.
Some remittance advice can include dozens, even hundreds of invoice numbers and other information, resulting in significant amounts of paper used to send these remittances out.
Sending remittances via email eliminates paper and ensures your suppliers receive the remittances much faster than if sent by post. If printing hard copy remittances is essential, sending a consolidated remittance advice means fewer pages are needed when printing.
Furthermore, delivering more documentation electronically will decrease costs associated with printing and postage.
Our remittance solution enables customers to accomplish numerous tasks and enhances Business Central functionality in several ways. We’ll show how some of the main features work to achieve these benefits:
Deliver documents in batches
An important feature of this solution is that it allows users to send out a personalized batch of remittances to customers; these can also be consolidated into a single email per customer.
The GIF here shows how simple it is to deliver documents (in this case invoices, but it’s a similar process for remittance advice), in batches using Zetadocs:
Personalized email templates
One incredibly useful feature of Zetadocs is the ability to personalize emails. Templates can be utilized to edit both the subject and main email body, guaranteeing consistent content and delivery.
The GIF below demonstrates how a spring promotional document is automatically attached to an email when sending a sales quote:
File copies into configurable folders
Zetadocs allows users to file copies of their documents sent, including remittance advice, into folders (configurable by variables such as date, customers and type).
This final GIF shows how Zetadocs enables customers to configure SharePoint folders by their personal needs and settings:
You can find a full comprehensive features list of this solution in our datasheet.
As detailed throughout this post, implementing our remittance advice offering brings about multiple benefits (including better supplier relations and the ability to automated repetitive tasks), as well as helping businesses to reduce their reliance on paper.
Our expert team would be more than happy to show how our solution would directly benefit your business, so feel free to book in a personalized demo today!
The next blog post in our Spotlight on series will be covering another one of our document management solutions, collections management. Implementing this solution reduces the pain of collections management by presenting the right documents to the right people at the right time, encouraging earlier dialogue which allows faster dispute resolution and payment.