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Administrator Guide
Last Updated: 2024-10-04
Concept: Customer Collections Dashboard

Concept: Customer Collections Dashboard

The Customer Collections dashboard offers insight into your outstanding receivables, billing, and payment transactions. It helps you to:
  • Assess the aging distribution of current and past-due transactions.
  • Determine the risk level of each customer.
  • Evaluate the risk associated with each customer invoice.
  • Get a more accurate forecast of cash and bad debt.
  • Identify customers and invoices that are most at risk for late payment.
  • Prioritize customer accounts for intervention by a collector to manage payment collection.

Building the Collections Dashboard

To build the dashboard, you need to:
  1. Identify the collection metrics to use.
  2. Configure your own high, medium, or low customer risk scores using calculated fields.
  3. Create a custom report using these metrics.
  4. Add the custom reports to the dashboard as worklets. You can use any report on the Customer business object. For a complete list of reports to include on the dashboard, access the
    Workday Standard Reports
     and filter on the Customer Accounts report category.
  5. Enable security for the dashboard.
The default menu for the dashboard includes tasks related to customers, invoices, payments, write-offs, and adjustments. You can also configure the dashboard to include worklets for operational reports, charts, and tasks.

Workday Delivered Collections Metrics

Workday delivers these metrics that you can use to create your own risk scores:
  • Average Days Late
  • Weighted Average Days Late
  • Days Sales Outstanding (30 Days)
  • Days Sales Outstanding (60 Days)
  • Days Sales Outstanding (90 Days)
Workday calculates the metrics across all invoices and all companies for a given customer. To update the metrics, run the
Schedule Customer Collections Metrics Update
 report. You can set a schedule to update the metrics daily, weekly, or monthly.

Risk Scores for Expression Bands

After you update the collection metrics, use any 1 of the metrics to develop calculated fields for customer risk scores. Then, create additional fields to define high-risk, medium-risk, or low-risk bands. You can also create calculated fields from the D&B Commercial and composite scores provided on the customer profile. You can create risk scores based on a combination of:
  • Customer category.
  • Invoice and payment history.
  • Location.
  • Revenue category.
  • Sales item.
  • Weighted average days late.
The risk score that you create for each customer invoice indicates the likelihood of a customer paying the invoice after the due date. You can use these scores in custom reports and add the reports as a worklet to the Customer Collections dashboard.