BRIM Dispute, Dunning and Collection Management. Role of Acuiti Labs

What is SAP BRIM?

SAP BRIM, also commonly known SAP Billing and Revenue Innovation Management is nothing but a high-volume usage-based solution that’s sole purpose is to ease complex billing and invoicing processes and simplify the entire process for the businesses. It improves the flow of selling and re-selling of products and services and sharing revenue in the most appropriate way.

SAP BRIM for Dunning and Collection Management – Process Overview

Here are the few steps that can help you in understanding the complete process of SAP BRIM –

1. Define Service Products and Bundles: During the first step, along with defining the product, product relationships such as cross-and up-sell is also identified. Then further comes bundling of any services & products followed by a configuration process based on the requirement of the customers. There can also be Reuse of rate plans for different products

2. Contract Creation and Management: Next in the process comes the contract creation part where order decomposition and Contract lifecycle management in initiated.

3. Mediation and Rating: The third step in the process is responsible for managing high volume, real-time and batch mediation and rating. All the metering, balance management and splitting of debits and/or credits are carried out in this step of the SAP BRIM Process.

4. Billing and Invoicing: Not only simple but also in a very effective manner the summarization is done, special attention is given so that there is no loss of detail. Required Billing and Payment Statement support, Reverse-and-rerate process support is provided during this step.

5. Accounts and Receivable: This is the final step of the process and here the receivables management dunning & collections payment handling is done. Line-item Dispute Management Credit Management is also part of this final step.

What is Dunning and Collection Management? How can SAP be the best choice?

Using SAP BRIM for Dunning and collection Management – Dunning is the process of methodically communicating with customers to ensure the collection of receivables

During this process notices are sent to the customer with overdue items, requesting payment of the outstanding amount by a specified date

SAP BRIM leverage the concept of the Business Rules framework to identify the appropriate collection step (action) as per the latest parameters of the customer account.

Features of using SAP BRIM for Dunning and Collection Management

Dunning –

· Configure multiple collection step for the Collection Strategy.

· Tailored treatment for different segments of the customer

· Running Champion-Challenger – Multiple strategies running in parallel

· Success Valuation of each strategy, each action for continuous refinement of strategies

· Dunning history and traceability of all actions to overdue items

· Automatic interest/charge calculation & posting in the run

· Customer-specific activities based on pre-defined function modules like integration with 3rd party debt collection agencies

· Mass reversal of dunning runs including dunning activities

· Simulation in production before any major in the strategy being deployed

Collection Management – Significant way to reduce the time spent in collections from customers

By using collection management software it becomes easy for the organizations and the individual to manage, control, and align the entire collection flow.

Buying and spending a lot on software like CRM or ERP for bringing in more leads and get those closed quickly is fine but not on the cost of ignoring the remaining part of the process. Rest of the process that comes after the contract has been signed or the product has been delivered, where to close the loop you have to collect the money that is owed to you. The process of collecting the money isn’t as easy at it seems and requires a lot of time and efforts.

Opting for a collection management software to streamline this process has turned to be really beneficial and time saving by a lot of businesses today. Here are a few benefits that a lot of companies have already realized by using collection management software –

Faster Payments – The organizations that are already using collection management software receives the payment 20% faster when

compared to the organizations that are still following the traditional way and using the manual systems.

Better and Accurate Cash Forecasting – A typical collection system often fails when it comes to cash-forecasting but while you use collection management software, your team will be given the advantage of tracking the expected payments along with providing a statistical cash forecast. Companies can easily get details about the expected payments that can be further utilized for confirming the statistical cash forecast for more accurate cash flow management.

Increased fresh/unused credit lines – A collection management software is very useful in identifying unused or fresh credit lines and get details of the lower-risk customers. Once these customers are identified, you can help them in buying more products and services from your company. The receivable end of the collection management software helps in getting a holistic view of the complete accounts receivable process so that you can have a clear idea about how improved and systematic credit management is positively impacting the future sales of your company.

Become trusted receivable with better borrowing position – Every organization requires capital for better growth and future improvement. Having said that, it is not an easy job for many companies. When you choose to borrow money for capital improvement, banks thoroughly calculate and review your receivables to determine what amount of money can be provided to you and at what interest rate. The organizations that are using collection management software mostly have healthier accounts receivable and are considered qualified for larger amounts from the banks that too at minimal interest rate. A lower interest rate can help the companies in getting huge potential savings over the course of each loan.

Highly reduced bad debts – The organizations that use collection management software systems typically cut down bad debt by 15-25% as this software successfully identifies and resolves any disputes very quickly and prevents them from aging to the point where they’re uncollectable.

Better reporting and analysis – The use of collection management software makes it highly feasible for organizations to get better reports that are pre-configured, consists of labels, catalog, templates, checklists etc. CMS ensures that data can be easily exported in a variety of useful formats.

Acuiti Labs – SAP Consulting Firm

Acuiti Labs is an SAP silver partner with a specific focus on Lead to Cash processes including SAP Billing (BRIM) and SAP CX Sales Cloud. We are a consulting firm with proven expertise in delivering successful SAP Billing (BRIM) based transformations. With Big four consulting experience in delivering digital transformation programs using SAP and other enterprise applications, we also have strong open source technology capability to deliver projects end to end with AI, IoT, Big Data, Mobile & Cloud technologies.

Advantages of choosing Acuiti Labs

Supporting various clients in Postal, Utilities & Telcom in their Debt Transformation journeys

European & US Experience

• Team of consultants with Big Four consulting experience.

• Delivering solutions to US, EMEA clients

Full Range of Services

• Delivering in the new age of digital transformation by providing a wide range of business and technical capabilities.

Relationships and People

• Partnership with our clients and maintaining a strong relationship is of utmost importance to the firm. We always go the extra mile

Teams based in UK & India

• Creating value through a mix of cost effectiveness and exceptional talent pool by leveraging geographical advantages

Flexible Delivery Models

• Providing multiple options of engagement and resource mix to ensure exceptional quality whilst allowing clients to maintain control

Acuiti Labs – We are an advanced BRIM competency centre because we offer:

· BRIM Solution Architecture

· Subscription Order Management (SOM)

· Convergent Mediation

· Convergent invoicing and FICA

· Convergent Charging

· BRIM Technical, FIORI & Integration