We’ve gained in time, reliability and responsiveness to our customers, enabling us to refocus on higher value-added tasks such as customer reminders, while working more serenely.
Komet France, leader in rotary dental instrumentation in France for 39 years
Specializing in the medical sector, Komet France manufactures innovative instruments for dentists, prosthetists, podiatrists and hospitals with 26,000 active customers. With 83 employees, the company uses Microsoft Dynamics AX as its ERP and generated 31 million euros (2015 figures).
Project background: over 50,000 cheques and 13,000 transfers processed manually every year.
Pascale Boitel, Customer Credit Manager, explains that “70% of cash receipts are checks, 20% transfers and the rest direct debits or credit cards. That’s an average of 205 cheques a day to be entered manually.
Each cheque received must be associated with an invoice, and requires a manual search of the database. Each cheque is then entered manually, with matching, to produce a payment journal for deposit in the bank, to which is added the endorsement.
CashOnTime Capture and CashOnTime Allocation, a precise, well-considered choice
Ms BOITEL joined the family business in 2011. One of her missions was to modernize working methods in order to become more efficient in managing customer accounts.
“As our business was growing, we were overloaded with work, so we regularly called on someone from customer services to help us process cheques”.
The company had two options: either recruit a new resource, or implement an automated check processing solution.
Pascale BOITEL and Christophe CYR, Director of Support Functions, discovered DIMO Software’s CashOnTime solutions while attending an event on DIMO Software’s financial processes. They were quickly convinced of the productivity gains proposed for cheque processing.
During the first meeting, the DIMO Software sales team also identified the potential gains for processing over 13,000 bank transfers per year.
In fact, bank statements were printed via Sage internal accounting software. Third parties and invoice numbers then had to be identified, and entered manually in the payment journal.
CashOnTime processes cheques without fail!
“It was quick and easy to get to grips with the system, thanks to its ergonomic design. The time saved and the reliability of the matching have improved the team’s productivity.
Today, automatic matching is used for 70% of cheques and 90-95% of transfers. Cheque processing is tending to increase. “We expect to reach 80% of cheque matching in the near future, as the database is enriched by the CMC7 tape as cheques are received.
“Cheques are now scanned and processed by CashOnTime Capture. This enables automatic reading, identification of the third party, checking of information (checking of amounts in words and figures, verification of mandatory information: date, signature, beneficiary), endorsement, and detection of any anomalies concerning them”.
The connectivity of CashOnTime solutions
An export is then sent to CashOnTime Allocation, which automatically assigns the payments to the corresponding invoices using the CMC7 band, then the tool proposes batches for automatic matching processing and assisted matching for payments not allocated automatically.
After processing and validation, the batches are exported directly into the AX database, in the appropriate payment journal, for final validation and banking.
We’ve gained in time, reliability and responsiveness to our customers, enabling us to refocus on higher value-added tasks such as customer reminders, while working more serenely.
Pascale Boitel, Customer Credit Manager
Convincing results, satisfying treatment!
“Undeniable time savings: we save 2 hours of processing time per day. Now we don’t have to ask customer service for help. The CashOnTime suite facilitates our work by processing the entire chain from scanning to accounting in our AX Dynamics ERP.”- Improved productivity, quality and reliability of cash receipts. The reliability of operations has been increased and manual errors reduced. “CashOnTime Capture enables us to reduce the number of cheques returned by the bank with incorrect or incomplete information.
- “The team has also gained in responsiveness: since all cheques are scanned and archived, we can find them very quickly in the event of a dispute or challenge from our customers. This enables us to offer our customers a better quality service. “We are very satisfied with the DIMO Software teams, who have shown great patience. They are always available and a great listener.”
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