Discover how Microsoft Dynamics 365 Finance can streamline overdue payment management with automated reminders, customer account statements, and dispute resolution tools. Learn effective strategies to maintain cash flow and customer relationships effortlessly!
Table of Contents
Question
Adventure Works Cycles has noticed an increase in overdue payments from customers. The company uses Microsoft Dynamics 365 Finance and wants to improve its collections process. You need to develop a strategy to manage overdue payments more effectively while maintaining good customer relationships. What should you do?
A. Ignore overdue payments as long as the customer continues to place new orders.
B. Immediately suspend all services and deliveries to customers with overdue payments until they settle their accounts.
C. Implement a collections management system that includes automated reminders, customer account statements, and dispute management.
D. Increase credit limits for customers with overdue payments to encourage them to order more products.
Answer
C. Implement a collections management system that includes automated reminders, customer account statements, and dispute management.
Explanation
Implementing a collections management system with automated reminders and account statements helps manage overdue payments efficiently and maintains customer relationships by providing clear communication and dispute resolution options. Suspending services may harm customer relationships. Ignoring overdue payments can lead to cash flow issues. Increasing credit limits for customers with overdue payments can exacerbate the problem by increasing exposure to bad debt.
Microsoft Dynamics 365 Finance Functional Consultant MB-310 certification exam assessment practice question and answer (Q&A) dump including multiple choice questions (MCQ) and objective type questions, with detail explanation and reference available free, helpful to pass the Microsoft Dynamics 365 Finance Functional Consultant MB-310 exam and earn Microsoft Dynamics 365 Finance Functional Consultant MB-310 certification.