Situation
With disconnected databases, our client faced numerous challenges staying on top of customer transactions and interactions. Amongst other things, the disparate location of customer data impacted the accuracy and completeness of its accounts receivable balances, its ability to collect outstanding payments and ultimately, exerted substantial pressure on their cash flow.
Solution
PwC employed data tools to analyse and organise customer account data from various sources into a standard format. Thereafter, we developed unique identifiers and criteria to effectively map customer data with accounts receivable and corresponding general ledger records. Additionally, a customised tracking tool was developed to record customer contacts and actions, enhancing the pursuit of outstanding balances.
Impact
As a result of our work, the client was able to receive an updated, detailed and aged accounts receivable schedule integrated with customer contact information. This enabled them to effectively and accurately track balances and implement a robust collection system, significantly enhancing their cash flow position.
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