Record to report / R2R – Reconciliations

Customer

Last post was just a sample of a value add.

http://faoblog.com/processes-record-report-r2r-reconciliations-customer-4/

Based on the client’s business, you can come up with multiple ways of adding value.

Some of these mechanisms could be:

  • Trends of disconnects in penalties – the client’s accounting could be charging amounts not communicated by sales
  • Transportation charges – quite often these are a common occurrence, the customers of your client would be expecting your client to do a free delivery, whereas the sale contract could specify otherwise
  • Foreign exchange differences in inter country transactions could open a set of undefined terms, where your client could be losing money
  • Non-credit of early payment charges could cost your client loss of the customer, customers are important
  • Similarly, your client might be losing money on account of write-off of penalties & interest written off, which could be triggered by the reconciliation process

There is so much in this simple process and it’s just your imagination that could restrict you.

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