NeoCollect - Payment Reconciliation in Salesforce CPQ & Billing

21st May 2020

Streamline Payment & Invoice Reconciliation in Salesforce CPQ & Billing with NeoCollect



Weeks ago, we shared the importance of payment and invoice reconciliation for the AP / AR manager as well as the CFO.



Historically, the accounts receivable reconciliation process has been largely manual. When an organization is small, has common invoicing procedures across all customers, and predominantly takes only one form of payment, this procedure can be manual.



As businesses scale and grow, they take on different invoicing terms, multiple payment methods, and too much risk associated with human error and manual data entry.



Consolidating your Quote to Cash process by leveraging Salesforce CPQ & Billing is powerful. However, it takes a seasoned partner with finance domain expertise to truly elevate the power of the platform.



NeoCollect is being developed as an accelerator to help customers get even more out of their Salesforce CPQ & Billing implementation. It was developed alongside our customers within the finance function to help de-risk this critical process.



NeoCollect expedites and automates the reconciliation process through smart invoice matching in Salesforce CPQ & Billing. At a high-level, here is how it works:


  • NeoCollect will match payments to invoices & customer accounts


  • Payments that have a low matching percentage will trigger a warning to the finance team requiring manual intervention to mitigate any issues


  • Payments that have a high matching percentage will process and not require manual intervention


Through NeoCollect, we enable our customers to focus on what matters when it comes to payment reconciliation. Yet another way that Neocol is helping companies scale and grow.



Although not on the Salesforce AppExchange (yet), please contact us to hear more!

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