Cforia Software Announces Cforia.connect Knowledgebase and Deductions Survey Findings at International Credit Trade Finance (ICTF) Annual Global Trade Symposium
Cforia introduces next generation collaborative technology and shares insights from Global Study on Dispute Management at ICTF Florida Symposium
A world leading provider of Order-to-Cash (OTC) and Accounts Receivable (A/R) Integration and Collaboration Automation Software, Cforia Software, Inc. introduces next generation collaborative technology at the International Credit Trade Finance (ICTF) Annual Global Trade Symposium, Sunday, November 15 through Tuesday, November 17th in Ft. Lauderdale, Florida. As a Symposium Sponsor, Cforia will kick off the annual event by hosting the ICTF Welcome Reception on Sunday evening.
Over the last 15 years, Cforia has been keeping track of Working Capital Improvements realized through Order-to-Cash (OTC) Best Practices used by Cforia clients within ten critical areas and will share the findings at the ICTF event. The newest version of the Cforia.connect Collaborative Knowledgebase, which allows Cforia’s global user community to share best practice reports and process workflows via a secured social network. Cforia.connect is a repository of proven best practice workflows that have delivered significant benefits to their client companies. Any Cforia customer may now benefit from the collective knowledgebase of the global user community and change OTC processes and priorities in minutes.
Chris Caparon, Chief Operating Officer of Cforia commented, “We enable industry leading companies, who have realized amazing working capital and OTC benefits with Cforia Software, to upload their best reports and best practices workflows into the Cforia Collaborative Knowledgebase of Best Practices called Cforia.connect. Any Cforia client can “tap” into a wealth of customer experience by downloading and customizing reports and workflows in less than five minutes. The benefit of our OTC solutions has been expanded with the collective shared best practices of a global user community. Improved financial outcomes distributed all over the earth in real time. That is the power of Cforia.connect.”
Cforia will also provide insights from the recently released white paper published in the Credit Research Foundation (CRF) Business Journal at the ICTF Symposium. The article, written by Caparon, focuses on the huge cost of Deductions in the U.S. today. Using conservative Deductions averages and taking the United States Federal Reserve 2015 Q1 calculation for “Non-Financial Business; Trade Receivables; Assets” of $3.422 Trillion dollars, Deductions represent a $34.4B to $171.1B annual problem, in the U.S. alone.
Cforia maximizes Accounts Receivable performance and accelerates cash through a full software suite, which includes OCR Auto Cash Application, Credit Provisioning/Decisioning/Risk Analytics, Collections Prioritization, Deductions/Dispute Resolution Lifecycle Management, Electronic Billing and Online Payments, and A/R Collaboration and Client Portals.
About International Credit and Trade Finance (ICTF) ICTFworld.org
ICTF is the independent, not-for-profit, member-led association of International Credit and Trade Finance professionals, launched by the former FCIB/NACM board members in 2010, providing a distinct advantage to those who seek greater expertise in the field of international credit management.
Having attracted top international talent and over 750 members, ICTF has evolved as the association of choice for international credit professionals worldwide.
ICTF is dedicated to supporting the goals and serving the needs of its members and the international business community by providing unmatched expertise, powerful connections, leading edge resources, educational programs and services. The association offers real time business intelligence, exceptional opportunities for ongoing professional development and growth, and an unparalleled forum for benchmarking, sharing of best practices and the latest innovations in the industry.
About Cforia Software cforia.com
Cforia is a global enterprise software provider, delivering industry leading working capital and Accounts Receivable (A/R) Automation Software. Over 200 enterprises are managing $240 billion in run-rate A/R portfolios with Cforia today. Its fifteen years of success have been driven by superior technology integrated with proprietary real-time data integration tools across complex and disparate ERP systems. Cforia Collections Snapshot(SM), Credit Risk Analytics, Order Management, Clean vs. Dirty Receivables Tracking, multi-languages/currency, global Parent/Child risk roll-up and multi-business unit solutions are available in Hosted(SM) or On-Site delivery. The comprehensive Cforia software suite maximizes A/R performance through a full software suite which includes OCR Auto Cash Application, Credit, Collections and Deductions Management Workbench, Electronic Billing and Online Payments and A/R Collaboration Portal. Cforia’s A/R Automation empowers Finance Departments to independently manage their own electronic dunning correspondence, reports and credit and collections business logic, without relying on an overburdened IT staff and external resources.