Receivables Management & Reconciliation
Receivables management and reconciliation is where we can make a significant impact on ensuring you get what you are owed.
Receivables management and reconciliation is a significant obligation that represents one of the single largest resource drains while remaining prone to error. What differentiates Lotus from other businesses is the ability to integrate the daily audit results into your month-end receivables reconciliation.
Our detailed process & tools enable us to reconcile your receivables and provide you with accurate lists of discrepancies to dispute. We feed your detailed transactions into state-of-the-art software to ensure 100% receivable collection. We use a comprehensive evaluation system to compare expected versus actual paid receivables, generating a comparative report detailing the variances and validating the results. We also understand that as these processes become more intricate, there is a need for additional manual reconciliation, which we are staffed to handle. What you receive in return is a simple, clear and accurate listing of detailed discrepancies accounting for every cent of every transaction. All discrepancies reported daily are researched and validated to enable us to achieve accurate receivable reporting as well as true gross profit.
Along with detailed reporting, Lotus provides an Executive summary that includes critical elements such as correctly-paid, non-paid, under-paid, and even over-paid activity, giving you complete control over your finances as well as accounting transparency. We are also capable of handling special incentives, volume discounts, charge-backs, etc.
All of us at Lotus understand the importance of analytical reporting to your business, and we can accommodate customized reporting requests to match your specific business needs.