CREDITFORCE
Professional Services Edition
Accounts Receivable, Working Capital and
Residual Client Account Management Solutions for
Legal & Professional Services
Innovation Software is the leading provider of AI enhanced collections, working capital and residual client account management software. We have been implementing our intelligent solution at the world’s leading legal and professional services organisations for over 26 years. CreditForce is in use at over 20% of the top 100 global law firms in more than 26 countries worldwide
The CreditForce PSE range provides a comprehensive suite of applications for legal regulatory compliance management, finance, revenue and collections management teams. We offer specialist collections modules to meet the needs of aviation, marine, and personal injury practices, as well as for SRA residual client account balance management, direct debit, eBill tracking, and automated
payment allocation.
CreditForce is fully automated and includes RTA (Repetitive Task Automation) such as Intelligent Task Lists and Email Tracker which saves a copy of each email sent as well as each reply received, as well as generating tasks from replies. Collectors waste less time on administrative tasks, and more time on customer relationships,
collecting cash and reducing DSO.
GLƱEON technology powers CreditForce and all supporting modules. With incremental updates throughout the day, transaction data is near-live and only ever as much as 5 minutes behind the host system.
We understand what credit management teams need. With over 20-years industry specific experience we have built CreditForce from the ground up to provide the widest range of functionality on the market to meet the most challenging requirements of collections teams and industry sectors.
CreditForce connects to all the major (and not so major) Practice Management Systems including:
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Aderant
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Artiion
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Elite Enterprise & Elite 3E
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Microsoft Dynamics AX, Microsoft Dynamics GP, Microsoft Dynamics 365 & Microsoft Navision
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Partner for Windows
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Practice Evolve
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SOS Connect
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Ticket
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SAP
We haven't yet found a Practice Management System we have not been able to connect, so if yours does not feature on the list it doesn't mean we can't.
Challenge us today and request a demonstration below.
FEATURED MODULES
COLLECTIONS MANAGEMENT
Automated A/R Provisions
Automatically generate and calculate provisions based on age of invoice, query code, client risk ratings etc.
Compliance Management
Send reports an or email notifications for missing data.
Full Activity Auditing
Keep a complete audit trail of user activity to monitor your team's progress and evaluate the best method's of working.
Payment Promises & Instalment Plans
Create payment promises and instalment plans that will automatically drive workflow when not met.
Business Intelligence Reporting
Reports designed specifically for Credit Control including:
- DSO / Averagre payment days / debtor days
- Invoice listings designed for use by Credit Controllers
- Payment trend analysis
All reports can be batched and distributed automatically.
Email Tracker
Automatically saves a copy of each email sent and received through CreditForce, into the communications history for a total audit trail.
Multi-Currency with On-Demand Conversion
Full multi-currency support with functions to allow on-demand conversion.
Query Management
An in-built and fully customisable system to handle query-management and drive workflow.
Collections Workflows
Automatically create and set tasks for collections / accounts-receivable management, and send automatic collections / accounts-receivable reminder letters and statements.
Financial Document Image Management
A complete financial document image management system is included to save copy bills and other finance related documents (includes ability to convert and manipulate documents).
Multi-Payer / Split-Bill Processing
Handles multi-payer and split-bill chasing.
Third-Party Billing
Handles third-party chasing.
WORKING CAPITAL MANAGEMENT
Automated WIP Provisions
Allows WIP to be valued for balance sheet purposes and determine what adjustment may need to be made though the P&L.
Business Intelligence Reporting
Reports designed specifically for Working Capital Management. All reports can be batched and distributed automatically.
Financial Document Image Management
A complete financial document image management system is included to save copy bills and other finance related documents (includes ability to convert and manipulate documents).
Query Management
An in-built and fully customisable system to handle query-management and drive workflow.
Billing Commitments
Keep track of when a matter is likely to complete to easily forecast when your billings will take place.
Compliance Management
Send reports / notifications for missing data.
Full Activity Auditing
Keep a complete audit trail of user activity to monitor your team's progress and evaluate the best method's of working.
Working Capital Workflows
Automated Working Capital Management emails and statements.
Budget / Estimates Tracking
Set automatic notifications for when a matter is nearing the end of its budget.
Email Tracker
Automatically saves a copy of each email sent and received through CreditForce, into the Communications History for a total audit trail.
Multi-Currency with On-Demand Conversion
Full multi-currency support with functions to allow on-demand conversion.
RESIDUAL CLIENT ACCOUNT MANAGEMENT
Automated Internal Notifications
Send automated batch reporting and email notifications to the wider business.
Email Tracker
Automatically saves a copy of each email sent and received through CreditForce, into the communications history for a total audit trail.
Multi-Currency with On-Demand Conversion
Full multi-currency support with functions to allow on-demand conversion.
Business Intelligence Reporting
Reports designed specifically for RCAB Management. All reports can be batched automatically distributed.
Financial Document Image Management
A complete financial document image management system is included to save copy bills and other finance related documents (includes ability to convert and manipulate documents).
Query Management
An in-built and fully customisable system to handle query-management and drive workflow.
Compliance Management
Send reports / notifications for missing data.
Full Activity Auditing
Keep a complete audit trail of user activity to monitor your team's progress and evaluate the best method's of working.
RCAB Workflows
Automatically create tasks,
and send RCAB related email notifications and statements.
WEBDESK
Web based
Designed for personnel in sales, marketing and other customer facing roles, Webdesk allows all key accounts receivable data to be distributed to staff and reports to be fully automated. Sales personnel can directly update their projects time, cost and fees for accurate real-time forecasting wherever they may be.
ADDITIONAL INTERFACES
CreditForce 360 Protection
Business of any kind, conducted on credit, involves exposure to the risk that you will not get paid to terms, or, in the worst cases, not at all. The CreditForce 360º Protection interface, integrates with your credit rating service, i.e. CreditSafe, Dun & Bradstreet etc, to provide a comprehensive and cost-effective way to apply credit ratings, recommend credit limits, and obtain regular updates to enable you to fully understand and visualize the payment performance and financial standing of each of your clients.
The CreditForce 360º Protection interface is available with CreditSafe, Dun & Bradstreet and potentially other credit rating agencies too.
CreditForce Cash Allocation
We’ve partnered with Cashbook to streamline your cash application process. Remittances will be auto matched against open invoices and bank statements. Automate your general ledger postings for miscellaneous banking charges or transfers. Automate your deductions in your ERP system with auto-coding based upon configurable rules. Eliminate bank lockbox key stroke charges and make checks and remittance images available to users.
The CreditForce Cash Allocation interface is vailable for Cashbook, and potentially other cash matching systems too.
CreditForce Ebilling
Many organisations are using eBilling to render their invoices to their customers and clients.
CreditForce eBilling integrates with the leading eBilling agencies such as TRE eBilling Hub and Aderant BillBlast to monitor the progress (or otherwise) of invoices through the payment cycle completely automatically.
The integration is effected via the host’s web services and will track when:-
- Invoice has entered the eBilling cycle
- Invoice has been approved for payment , subject to adjustments
- Invoice has been approved for payment in full
- Invoice has been rejected.
CreditForce eBilling workflow rules can be defined to email any persons within your organisation who need to be updated with information on the status of specific invoices e.g. if very high value invoices have been rejected, so that immediate steps may be taken to correct the situation.
The CreditForce eBilling interface is available for TRE eBiling Hub, Aderant BillBlast and potentially other systems too.
CreditForce Insights
Financial reporting and dashboards to help tell a visual story.
CreditForce Insights can transform the value delivered by your finance and HR departments with best-in-class reporting on revenue, realisation, profitability analytics, HR, general ledger and accounts payable. With CreditForce Insights you will always know the true health of your business and plan for the future in confidence by working with the complete picture.
Setting business strategy and forecasting ahead has historically involved a good deal more guesswork than most companies would care to admit. With the disconnected streams of data in multiple software systems, there has always been a gap in connecting the dots and finding the deeper correlations that are affecting the performance of your business.
CreditForce Insights changes all that. By seamlessly connecting the vast untapped potential of your data, CreditForce Insights builds a breath-taking picture of the health of your business in real-time. Now you can see the true state of your business’s financial and HR performance in an instance. Easily understand and communicate the issues through fully interactive dashboards and reports that accurately highlight the bottlenecks and issues that are holding your business back from its true potential.
Use CreditForce Insights to track any KPI or metric that matters to your organisation, with interactive, drill-down features that allow native language search queries and puts informed decision making central to process optimisation and improvement. The possibilities are endless.
The CreditForce Insights interface is available for Microsoft Power BI and potentially other dashboard providers too.
CreditForce Invoice Despatch Tracker
Keep a track of the exact date the invoice was sent to a client.
For many of our legal industry clients, the sending out of invoices is the responsibility of the Partners or the Partners’ Executive Assistants. This can be an issue for Collectors as, although the invoice may appear in the A/R ledger, they will not always know if an invoice has been despatched.
The CreditForce Invoice Despatch Tracker will:
- Capture the date an invoice has been sent from a mailbox
- Capture a copy of the despatch email into the CreditForce Communications History
- Capture the email address(s) and assign a default contact to the invoice
- Have the potential to identify whether there is a need for AML checking and can create a new letter of engagement
- Initiate appropriate “workflow”
- Save copies of the attachments on the email into FDIM (the in-build Financial Document Imaging Management system)
- Avoids time-wasting or embarrassment for partner, finance teams and collectors
The CreditForce Invoice Despatch Tracker is an Innovation Software service developed for CreditForce.
GLƱEON Transporter
Forget about timewasting with cut-copy-paste, The GLƱEON Transporter allows you to easily upload transaction notes and queries from a spreadsheet straight back into CreditForce. Easy as that.
The GLƱEON Transporter is an Innovation Software service developed for CreditForce.
"Dealing with Innovation Software is not like other vendors.
You are not a number. They know us. They know our installation, they react, I am a person and feel they really care about my issues."
