Risk & Assurance

Trading inherently involves risks. To manage risk, it is necessary to have the right tools. Workcube has appropriate tools to monitor and control the risk limits for current accounts. You can save the Running Account Limit, Deferred Payment Limit, Payment Blocking information of your customers or suppliers on the risk limit definition screen.

In Workcube, the risk limits of the relevant customer are controlled instantly from the order screen. With different process definitions, functions such as not recording orders and passing orders through the approval chain can be provided in cases exceeding the limits. For example, orders received from a customer who's running account limit is full can be automatically sent to the top management for approval. Workcube offers the opportunity to define risk in different currencies. For example, a running account limit can be defined for a customer in both Euros and Dollars.

Similarly, suppliers may have set limits for your business. Depending on these limits, you may have given or received collaterals. You must record your collateral letters, collateral notes, mortgages, etc., with all the detail information and as written documents in person. W3 also provides tracking and accounting for collateral costs. Collaterals can also be tracked directly in the risk module where you define your risks for your customers or suppliers.

In W3, you can directly restrict current accounts from using their limit by showing certain reasons on the block tracking transactions screen. You can also blacklist your non-paying customers from the risk definition screen and then follow your blacklist members in other transactions.

You can report to your customers and suppliers that you have under execution for debt by recording an execution follow-up.

DBS
Direct Debit System (DBS), is a bank automatic collection system that ensures that the receivables of companies with a widespread dealer and sales organization with the dealers and distributors they sell goods and services to are covered by the guarantee up to the credit limit allocated in favor of the dealer and automatically transferred from the dealer accounts to the main company account.

You can define DBS limits to current accounts, and you can collect directly from the bank.

Before Use
Before making the risk and assurance transactions in the W3, you should make the following definitions.

• Transaction Types and Authorizations
• Transaction Definitions (Account and Contact risk registration process design and authorization)
• Reasons for Blacklisting
• Collateral Categories
• Reasons for Blocking

Module Functions

• Customer-Supplier Risk Limits
• Blocking Operations
• DBS Limits
• Execution Proceedings
• Customer-Supplier Risk Limits
• Collaterals

Associated Functions in Other Modules

• Sales Distribution/Agreements-Conditions/Contracts
• Sales Distribution/Customer-Supplier
• Current Account/Debt Credit Breakdown (You can get Debt/Credit Breakdown of your current clients whose execution is followed.)
• Debt-Credit Management / Maturity Difference Transactions
• Sales Distribution/Sales/Sales Proposal
• Sales Distribution/Sales/Sales Order
• Sales Distribution/Sales/Installation Sales
• Sales Distribution/Invoice
• Sales Distribution/Purchase/Purchase Offer
• Sales Distribution/Purchase/Purchase Order
• Sales Distribution/Purchase/Purchase Invoice
• Sales Distribution/Invoice
• BI/Risk Analysis
• BI/DBS Analysis

Tip

If the purchase payment method, sales payment method, and the shipping method are selected on the risk definition page, the selected method for the current account in offers, orders, and invoices is automatically entered into the document.

Tip

“A detailed risk monitoring should be done?” in company flow parameters. If you say yes to the parameter, risk control is checked on a line-by-line basis on screens such as orders and invoices.

Suggestion
Define risk limits for your customers. Perform your sales activities in a controlled manner in line with these limits. Establish authorization and approval mechanisms by combining risk control with process management.

Warning

“Bring "Transaction Currency" field in the company flow parameters in the risk Information as selected?” If you say yes to the parameter, the selected transaction currency in the risk information of the current account is automatically entered into the document (order, invoice, etc.). The exchange rate is derived from the rate on the document date. Even if the exchange rate information will not change, the exchange rate must be entered daily.