Problem statement
Clients products led to despatch of part material in differed times and from different places. This meant customer receiving the product in multiple cycles. This led to issues with GRN generation at the customer’s place and subsequent installation too. Hence the ability to track and ensure collection of payments for the invoices on time was a huge challenge. This required huge dedicated effort.
Solution provided
The team at TanServ got into contract management and customised Inebura, the tech platform to track the material receipt and GRN process. Tracking the entire order from the time it was placed till the payment was streamlined with adequate reminders and alarms/flags. Regular updates and escalations ensured the entire contract was executed on time leading to timely receipt of payments and reduced penalties.
Results
Clear and faster conversion of invoices to receivables and timely collection led to lowered exposure and increased cashflow.
