e2b Software Announcements Anytime Collect Version 2.0.2 Including New Communication Wizard and Customer Self-Service Portal

CHARDON, Ohio, May 24, 2011 – e2b software (www.e2bsoft.com) announced today the 2.0.2 release of Anytime Collect, the company’s flagship accounts receivable collections software.  The new version makes it easier for collectors to do their jobs by saving popular inquiries as tabs for quick access and utilizing the new Communication Wizard which guides them through the collections process for emails, phone calls, disputes, and other common collection activities. The new Customer Portal module provides self-service access for customers to view account information, request copies of invoices, dispute invoices online, or to contact their account representative.

 “Smaller companies often struggle the most with accounts receivable collections,” said e2b software President Bill Henslee.  “Our research indicates that smaller companies don’t have formalized credit and collections departments and the task of collecting on past due invoices is often left to an inexperienced office manager or part-time bookkeeper.  The Communication Wizard makes the collections process easier for our customers – especially for casual or inexperienced collection representatives by walking them through a wizard-driven system to manage their collections activities.”

Anytime Collect is a cloud-based accounts receivable collections management system available for purchase or annual subscription. Anytime Collect integrates with most popular accounting and enterprise resources planning (ERP) accounting business software. QuickStart implementation ensures that customers can configure their systems with remote training to start utilizing the software in just a few hours.

About e2b software

e2b software www.e2bsoft.com develops, sells, and supports Microsoft-centric, plug-and-play business applications including Anytime Collect (www.anytimecollect.com ) credit and collections management (CCM) and e2b 500 supply chain solutions for Sage ERP MAS 500. Anytime Collect integrates with popular accounting software including Intuit QuickBooks and Sage Peachtree, enabling finance professionals to reduce outstanding receivables, track activities, automate communications, forecast payments, and effectively manage disputes.

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e2b Software Launches Custom Cloud Computing Software Development

CHARDON, Ohio, May 17, 2011 – e2b software (www.e2bsoft.com), a business software developer, announced today that the company now offers customized business software development services deployed via cloud computing technologies such as Microsoft Silverlight and Microsoft Azure.  

“For decades, companies have relied on homegrown custom databases or they maintained lists of critical information in Microsoft Excel,” said e2b software President Bill Henslee.  “These databases, custom spreadsheets, and disparate applications served their purpose but were often very expensive, limited only to internal employees, and most weren’t completely integrated with their other business systems or business processes. Cloud computing is more than the wave of the future – it’s a reality that allows us to provide custom software that is more affordable, has a lower cost of ownership, is developed and delivered faster due to cloud technologies, and is available via the web to anyone, anywhere, anytime, in a secured and connected environment.”

Cloud computing allows businesses the opportunity to build customized databases and business software that can be accessed anywhere the user has an internet connection and valid log-in to the secured application. Cloud computing reduces expenses associated with the purchase of hardware and infrastructure as well as reduced costs for ongoing support and maintenance of hardware and infrastructure.

In addition to these benefits, e2b software is providing onshore development and consulting resources which reduce time zone and language challenges; the ability for customers to protect their investment through portable source code escrow services; optional maintenance and support contracts for custom business software; and e2b’s deep expertise in technical and transactional enterprise resources planning (ERP) business systems.

“Most custom cloud developers are simply customizing an existing cloud application developed by a major publisher,” said Henslee. “We provide businesses with a customized business application that is unique to them, designed to their specifications, and developed from the ground up with integration with their existing business systems.”

e2b software customers utilize cloud computing and custom software development for ecommerce storefronts, online asset management databases for test equipment, non-stock inventory systems for point of sale assets, customer self-service web portals, customer support portals, employee intranets, rental systems, and other custom applications.

About e2b software

e2b teknologies(www.e2btek.com) helps businesses take their custom software, databases, and spreadsheets to the cloud. These applications are critical but are often isolated within the organization. Cloud computing allows businesses to share information internally and externally using the latest Microsoft technologies. Custom business software is developed using Microsoft Visual Studio, Microsoft SQL Server, Microsoft Silverlight, Microsoft Azure, and other development platforms and databases. Custom programming services are also available for other programming languages and databases. Custom business software include business websites; ecommerce storefronts; customer, vendor, partner, and employee portals; inventory tracking systems; and business intelligence, online reporting, and executive dashboards.  e2b software also develops Anytime Collect (www.anytimecollect.com) accounts receivable collections management and e2b 500 supply chain solutions for Sage ERP MAS 500.

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Improving Cash Flow by Managing Accounts Receivable

As we all know, cash flow is the lifeblood of every business. Having sufficient cash can be the difference between success and failure and it is a concern that keeps many small business owners up at night. Accounts Receivable is the largest or second-largest asset of most businesses and reducing the amount of cash tied up in those outstanding receivables — and the associated cost of financing them – will have a positive impact on a company’s cash flow.

Days Sales Outstanding (DSO) is a simple measure of how long it takes for you to collect an invoice. DSO is calculated as:

DSO = (AR Balance / Credit Sales for a time period) X Number of days in that period

For example, a company with $10 million in annual credit sales and an AR balance of $1.5 million would have a DSO of 54.75, as follows:

54.75 = ($1,500,000 / $10,000,000) * 365

The annual cost to this company of carrying these receivables is $75,000, assuming financing at a 5% annual percentage rate.  Reducing DSO by just one day saves $1,370 in interest and frees up $27,397 in working capital.

Even more substantial reductions are possible. Surveys consistently show that the average DSO across all companies is slightly more than 40, although this varies considerably by industry segment. Research by PayStream Advisors, an industry analyst group, indicates that it is possible to reduce DSO by 10 to 20 percent by investing in collection automation software such as Anytime Collect. In the above example if we cut DSO by five days (9.13%) to 49.75 days then we save $6,849 in interest and generate $136,986 of free cash.

Rather than limiting their search for working capital to loans or investments, business owners should examine the feasibility of improving their internal collections process as a means to obtain cash.