Automate your Financial Supply Chain

Returns and Claims

Claims Screenshot

The Returns and Claims platform brings together people, process and technology in a comprehensive and coordinated system that aims to substantially reduce deductions and exceptions.

Features
  • Provides a single consolidated view to display relevant information(from varied sources, such as customer data, emails, faxes, and images)
  • Provides a comprehensive case management system
  • Enables quick and effective resolution of exceptions, returns, claims and chargebacks
  • Assign, prioritize, and route work
Benefits
  • Reduce the errors that cause exceptions
  • Increase the STP rate on invoice deductions
  • Address the internal challenges and bottlenecks, such as cross-functional cooperation, process inefficiency, timely access to information, and limited resources
  • No software to install or maintain
The business case to automate Claim Management

No matter how automated the order-to-cash process becomes; there will always be exceptions and problems that require human intervention. These irregular or exception transactions include disputes, claims, special arrangements, credits and many others. Such exceptions are estimated to represent 15 percent to 20 percent of all business-to-business transactions. Until now, disputes about invoices have been labor-intensive, time consuming, potentially damaging to customer relationships and, ultimately, bad for business. With so many variables and so little control, the problems seemed intractable. That has changed.

Advanced platform for Exception resolution

The coAction platform couples the people, the process and the technology in a comprehensive and coordinated system that can eliminate exceptions. It enables companies to reduce the errors that cause exceptions and increase the STP rate on invoice reductions. It addresses internal challenges and bottlenecks such as obtaining cross-functional cooperation, overcoming process inefficiency, ensuring timely access to information and succeeding with limited resources.

Manage the information challenge

Getting all the relevant information in a single view is one of the biggest challenges to the resolution of exceptions, claims and charge backs. The coAction system presents consolidated electronic and non-electronic information from multiple internal systems, customer data, emails, faxes, and digital document images in a single container enabling quick resolution to exceptions.