Make the order's payment obligations visible and manageable at the time of sale.
In wholesale sales, payment methods may include down payments, pre-shipment collection, post-delivery payment terms, installments, or milestone-based plans. Monitoring collection terms independently of the order can lead to delays in shipping and credit decisions.
Minerva Collection Planning creates expected payment dates and amounts based on order or contract terms. The plan can be linked to billing, credit control, shipment blocking, cash flow, and collection operations.
Collection plan components
Down payment, deposit and advance payment terms
Payment terms based on order, shipment, delivery, or invoice.
Installment, milestone, and percentage payment plans.
Payment terms specific to the customer and contract.
Collateral, letter of credit, and guarantee relationships.
Expected collection and cash flow projection.
Payment processing, offsetting and remaining balance tracking.
Warnings and blockages for incomplete or delayed payments.
Consider the cash flow impact of the sales decision.
High order value cannot be properly assessed without considering payment terms and collection risk. A collection plan ensures that sales, finance, and credit teams work together on the same expectations.
Manage the order not just as a revenue expectation, but as a cash flow commitment with defined time and risk.