This update highlights several important new features introduced in the most recent version of a leading cloud-based enterprise resource planning (ERP) solution. The enhancements span multiple modules, bringing improved usability, automation, and control to financial operations.
Collections Management Enhancements
Work Area Improvements
A new collections workspace makes it easier to manage individual workloads. Key information is presented in a streamlined format using four dedicated tiles:
- Overdue Customers
- Payment Promises
- Strategy-Linked Tasks
- Collection Activities
Case Folder Functionality
Collections teams can now group multiple transactions into a single case folder, allowing efforts to be coordinated as if addressing a single item. This provides greater clarity and efficiency when managing complex or bundled customer accounts.
Fixed Assets Reporting
Statutory Reporting Enhancements
New reports have been introduced to optimize asset-related compliance and financial reconciliation:
- View depreciation expenses by account and tax year
- Track asset acquisition sources and related adjustments
- Comply with local property tax regulations and long-term asset tracking requirements
Travel and Expense Management
Global Per Diem Policy Support
The platform now supports highly configurable per diem policies to meet global travel compliance needs:
- Variable rate structures based on time or trip phase (e.g., first/last day)
- Long-term and weekend travel rates
- Meal/accommodation deductions
- Spreadsheet-based per diem data uploads
Payment Controls and Approvals
Improved Payment Oversight
To enhance governance, users can now route payment requests through an approval process before issuing supplier payments:
- Payment process requests can be reviewed, approved, or rejected
- Notifications are sent via email and system alerts
- Enables prioritization of payments based on available funds and urgency
Receivables and Invoicing
Recurring Billing Automation
A new recurring billing feature allows automated invoice generation according to pre-agreed contractual terms:
- Define bill plans with frequency, customer info, contract dates, payment terms, and item details
- Generate invoices automatically
- Review and adjust historical billing activity as needed
Installment Schedule Updates
Users can now modify the payment schedule of existing unpaid installments to better align with customer-specific needs. This flexibility improves service responsiveness and customer satisfaction.
These enhancements represent a significant step forward in terms of automation, regulatory compliance, and user control across core ERP modules. Organizations can leverage these tools to streamline finance operations, enhance reporting accuracy, and strengthen customer and supplier engagement.