Collections are used in Q360 to
- Preserve cash flow: speed up payment receipt and reduce Days Sales Outstanding (DSO).
- Reduce credit risk and losses: identify delinquent accounts early, escalate, and minimize write-offs.
- Centralize and prioritize work: aging buckets, queues, and risk filters help collectors focus on the highest-impact accounts.
- Automate routine outreach: batch dunning, emailed statements, and reminder workflows lower manual effort.
- Improve accuracy and reconciliation: link collections to receipts, credits, and GL so balances stay correct and audit-ready.
- Protect relationships: track contacts, promises-to-pay, and tailored collection approaches to recover cash while preserving customers.
- Enable reporting & forecasting: collection metrics feed cash forecasts, management dashboards, and performance KPIs.
For detailed instruction, see sub topics to the left.