Wolters Kluwer Tax & Accounting has released a new version of the Accounts Receivable & Collections Dashboard, and other enhancements to existing dashboards in its CCH Axcess Data Axcess expert solution. The dashboards provide firms with advanced metrics and reporting capabilities aimed to help improve efficiency and profitability.
During the pandemic, data analysis became a high-focus area for firms and clients struggling to predict and manage the future.
“Data analytics have become a key priority for firms looking to better understand the trends affecting their financials and to identify operational red flags much earlier than traditional monthly reporting processes could uncover,” said Nate Brown, vice president of firm management, U.S. professional market, at Wolters Kluwer Tax & Accounting North America, in a statement. “The newly released Accounts Receivable & Collections Dashboard … helps firms leverage the data they already have to drive efficiency and productivity across their practices.”
The Accounts Receivable & Collections Dashboard is designed to help firms leverage accounts receivable data from the CCH Axcess Practice flexible billing system to help them analyze payment activities and identify cash flow trends. Enhanced features include:
- Data visualizations for an at-a-glance understanding of critical data, enabling management to view aging by department, billing manager, or client;
- Access to a full aging report with filters to drill down and refine data, and to see fee collection trends by month and client; and,
- Ability to conduct year-over-year comparisons and identify collection trends with detailed view into average days to collect and days to collect per client, helping them identify and address cashflow problems much sooner.
