AR/AP and Collection Management System Center
SFS AR/AP and Collection Management System Center manages all the financial relations with channels, customers and service providers.
In the form of a pre-accounting system, all your financial transactions are created by the system automatically according to your policy, claim and reinsurance transactions. Taxes, commissions and policy payment plans are automatically processed.
Payment collection transactions are monitored in great detail and it is possible to increase collection speed by ensuring a fault-free and quick operation. With comparative data analyses, the system helps you with the necessary decisions to direct your financial relations in a healthy manner.
Collection Entry with Multiple Payments
Collections performed with different means of payment are entered. All payments taken from a direct customer or a sales channel can be entered into the system as a whole. Different methods of payments can be used. In this way, your financial operation becomes faster.
Distribution of Financial Transactions
Credit Transactions can be distributed to debit transactions and also the opposite can be done. You can see if the installments of a policy or an endorsement are paid or not and the payments and amounts that close each installment. Distribution of financial transactions can be accomplished by manual selection or automatically by the system according to the FIFO principles. In this way, while collections are monitored on a policy and installment basis, follow-up analysis on a channel and customer basis can be performed concurrently. Cancellation endorsements may close their own policy installments or installments of another policy.
Payment Collection Control System
The selection of those whose payments are delayed payments is performed by the system automatically. A policy’s status can be manually changed into ‘suspension’ with the help of suspension operations in the system.
Integration with Financial Institutions
With the help of Winsure Bank Integrator, payment data related to credit cards or other means of payment may be shared electronically among financials institutions and your company. The data structure of the transmitted information can be defined separately for each company. No software coding is necessary for this operations.