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Collections
ENCORE – Enriched Consolidated Receivables
Smarter receivables reconciliation made seamless
Enriched Consolidated Receivables (“ENCORE”) is DBS’ regional receivables reconciliation solution.
With ENCORE, we help you to consolidate incoming payments across multiple collection channels, provide invoice details enrichment from data sources such as payment advices, and generate an Enriched File, which can be customized, for upload into your ERP/ accounting software for auto reconciliation.
You can now identify the paying customers and the purpose of payments more quickly.
If you face the challenge of having to retrieve incoming payment information from fragmented sources or reconcile bulk payment for multiple invoices, ENCORE can help you drive greater efficiencies in accounts receivables reconciliation.
Key Benefits:
- Reduces time and resources to match information across fragmented sources to identify payers and purpose of payment. This allows for re-deployment of resources to more value-added activities
- Minimizes human errors in manual extraction of data from payment advices
- Improves working capital management through faster turnaround in AR reconciliation and shorter Days Sales Outstanding
FAQs
What is ENCORE?
Enriched Consolidated Receivables (“ENCORE”) is DBS’ regional receivables reconciliation solution. With ENCORE, we help you to consolidate information of all incoming payments across multiple collection channels. You will receive a single Enriched file that provides consolidated incoming transactions with enrichment details.
Do I need to have a DBS Business Account to use ENCORE?
Yes, you need to have a Business Account with us in order to use this service. To maximise your benefit of using this service, we recommend that you have bulk of your collections credited into your DBS account.
How can ENCORE help with my Account Receivables reconciliation process?
You can streamline and optimise your reconciliation effort by integrating the Enriched files into your work flow.
Where can I access the ENCORE Enriched Files?
ENCORE Enriched File is available via IDEAL™ (our online banking platform) or Ideal Connect (our host to host solution).
How do I apply?
Simply call us at 400 820 8988, (or +86 400 820 8988 if you are calling from overseas) or visit any of our Branches. You may also email us and our Relationship Manager will contact you as soon as possbile
Get in touch
DBS BusinessCare: 400 821 8881
Things to Note