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Reveue Cycle Presentation
92
Disadvantages Of FEDI
- Substantial Short-term Implementation Costs
- Requires All Parties Involved To Have Compatible FEDI Systems
RFID & FEDI Systems Benefit Businesses
But Do The Costs Outweigh The Benefits?
Presented By:
Vanessa Saavedra
Compatibility
Presented By:
Jeffery McGlinnen
Level Three
The Payable And Receivables Functions are Outsourced To Value Added Banks (VAB)
- Streamlines The Electronic Exchange Of Information Among All Parties
- Reduces Office Space And Salary Expenses
- Results In Closer Relationships With Customers
Presented By:
Jason Wiesenthal
Short-term Implementation Costs
- Hardware
- Software
- Education & Training
- Administrative Costs
Presented By:
Jeffery McGlinnen
The Four Processes of the Revenue Cycle
Cash
Collection
Sales Order
Entry
Billing
Shipping
Presented By:
Christine Heise
Two Technologies Used In The Revenue Cycle
Radio-Frequency Identification
(RFID)
Disadvantages Of RFID
&
Financial Electronic Database Exchange
(FEDI)
- Radio Wave Limitations
- Newer Technology Costs More
- Misuse Of Technology
Presented By:
Christine Heise
Technology's Place In The Revenue Cycle
RFID Is Most Useful In The Sales Order And Shipping Stages Of The Revenue Cycle
Presented By:
Claire Johnson
Presented by:
Chistine Heise
Claire Johnson
Jeffery McGlinnen
Vanessa Saavedra
Jason Wiesenthal
Radio Waves Have Limitations
Presented By:
Christine Heise
Metal Reflection & Liquid Absorption Of Signals
Restricts The Products And Packaging That Can Take Advantage Of RFID
Presented By:
Claire Johnson
Major Companies Are Using RFID
Level Two
The Benefits Of Implementing RFID Include:
- Better Inventory Accuracy and Tracking
- Lower Labor Costs
- The Elimination Of Most Manual Data Entry Errors
- Internal Controls
Characterized By The Replacement Of Remittance Advice And Checks
Presented By:
Christine Heise
Presented By:
Christine Heise
Newer Technology Costs More To Implement
- Provides Helpful Information To Management On Cash Flows
- Improves The Consistency And Predictability Of Customer Payments
- Improves Accuracy Of Payments And Remittance Data
Hardware, Software & Human Resources Costs
Presented By:
Claire Johnson
Presented By:
Jason Wiesenthal
FEDI
Combines Electronic Data Interchange (EDI) And Electronic Funds Transfer (EFT)
Assists In The Billing And Cash Collection Stages Of The Revenue Cycle
Presented By:
Jason Wiesenthal
Level One
The Elimination Of The Use Of Checks During The Revenue Cycle
Misuse Of RFID Technology
Level One Implementation:
- Reduces The Threat Of Fraud
- Improves Cash Flow
- Reduces The Chance Of Human Error
Presented By:
Claire Johnson
Presented By:
Jason Wiesenthal
Levels Of FEDI Implementation
Level One
Level Two
Level Three
Presented By:
Jason Wiesenthal