Get Smarter & Efficient Business Payments

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ABOUT CORNERSTONE

CORNERSTONE started with highly skilled and experienced professionals to alleviate the pain of payment follow ups on collections, to improve cash flows, reduce bad debts, avoid payment delays & get their payments on time. So that they can spend more time on their business, by getting new customers and strengthen their existing customers instead of chasing them for their old payments which finally end up in bitter taste.

CORNERSTONE holds expertise in offering our customers a reliable receivables management services for all types and size of business. We also closely follow our value added approach and try to find ways for bringing improvements to people's businesses to protect and save their money.

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Manage and Quicken your Payment Cycles

Cornerstone CRM makes payment collections into a simple and straight forward process. You can also assign the task of keeping track of payments to a particular employee. You can also automate your book-keeping process to deliver precise accounts concerning pending and completed payments.

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Central payment dashboard

Integrate all the incoming and outgoing payments in a unified CRM dashboard interface. By syncing your desktop and mobile device data on the unified CRM platform, you can view updates about the ongoing transactions in a single dashboard. Afterwards, you can also tie different transactions within the central dashboard.

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Faster Payment Processing

The unified platform lets you receive updates for receiving payments. You can also view the payments for any ad campaigns or service payments. This allows you to view the revenue turnover at any particular time.

Our Strategies

  • 01
    Think beyond DSO

    Using metrics to improve performance is not a new or radical concept. But in AR, besides "DSO" and "Amount written off" the data analysis pool is laughably shallow. AR departments that find ways to go beyond DSO are able to effectively track performance, hold their teams accountable, and ultimately get the results they desire.

  • 02
    Confirm invoice receipts.

    "I never received the invoice." How many times have you heard this from a late-paying customer? With the right AR automation solution in place, this problem disappears. Users can track invoices from beginning to end and know exactly when the document was received.

    Taking it a step further, the solution gathers data that your team can also use to set up workflow rules. For example, your team could be altered to any unopened invoice (based on when it was sent, dollar amount, customer group, etc.) and reach out to the customer. Simple, easy and effective.

  • 03
    Focus on team efficiency.

    It's not uncommon for as much as one-third of an AR rep's time to be spent on prioritizing contacts and searching for contact-related information. That's a lot of time/money/production lost, my friends. Automated AR management solutions have an elegant solution to this problem - giving staff members a clear snapshot of their day via customized to-do lists. Not only will they know what to do and when to do it, managers are also aware, and can make decisions accordingly.

  • 04
    Use root-cause analysis.

    How do problems like late payments, customer disputes and deductions happen in the first place? Good question. With an automated AR solution, you can finally get the answer. Users can identify, track and categorize the root causes of some of the most common payment-related issues, and over time, even help them pinpoint customer patterns as to help avoid them in the future.

  • 05
    Greet technology as a friend.

    Contrary to what's commonly believed, automation is not some technological wrecking ball designed to wipe out and replace all of your existing people, processes and technology. AR can't and shouldn't be fully automated. The idea is to automate what should be automated.

    Think of today's best-in-class AR solutions more like a highly specialized team member. Except, this employee not only helps you get paid faster, keep costs down and improve customer relationships, it doesn't take any time off. If that's not an idea to get behind, I don't know what is.

  • 06
    Make e-invoicing a priority.

    Switching to e-invoicing is in everyone's best interests - both company and customers alike. It's just a matter of creating a specific plan to facilitate the transition to e-invoicing. This can include strategies as simple as:

    • Setting defined goals (e.g., increasing e-invoice delivery via email by 20% over four months)
    • Collecting accounts payable (AP) email addresses from all new customers
    • Reaching out to existing customers in order to convert them from paper to email
  • 07
    Get a clear follow-up plan.

    Most companies would love to contact their customers before 15-20 days past the due date. In reality, that's a tough ask.. especially in a manual environment that's strewn with bottlenecks. Automated AR solutions have a better way of doing it. Their slick payment reminder capabilities ensure that friendly emails are sent out automatically to notify slow-paying customers. No human intervention necessary. No manual headaches or hassles.

  • 08
    Evolve with your customers.

    You may have noticed that people nowadays seem to prefer interacting with small, glowing rectangles than actual human beings. Your customers are no different. Instead of speaking to a rep or getting put on hold, they would rather make an invoice payment or get a question answered online, often from their mobile device, and on their own time.

    Self-service tools offered through automated AR solutions help customers do things like:

    • View invoice information online
    • Make payments electronically
    • Apply credits to open invoices
    • Sign up for auto-pay functionality
    • Get questions answered rapidly