New on the Shelf: Deductions Lifecycle & Multi-Currency Capabilities

♻️ Deductions Lifecycle

We're excited to announce a major update to how you view and process deductions in Confido.

Why This Matters

Before, all deductions appeared in a flat view, regardless of their status or a user’s role, making it difficult to answer simple questions like, "Where are my deductions?"

Now, with Confido’s Deduction Lifecycle, track deductions through every stage and quickly identify what requires your attention. 🔎 

What's New

Enhanced Table & Filters

• Dedicated views organized by lifecycle stage and approval status

• Filters for lifecycle stage and approval status for quick searching

• See deductions awaiting your review or track your previously approved deductions

Improved Workflows

• Role-based visibility and permissioning ensures users see only relevant deductions and fields

• Clear blocking indicators when approval is required before clearing

• Configurable approval requirements

• Dispute status visible as tags and filters, and can occur at any lifecycle stage

Defined Lifecycle Stages

• Pending: Payment and deduction unapplied, and nothing posted to GL or clearing account

• Clearing: Deduction posted to clearing account, awaiting reconciliation to specific P&L account

• Cleared: Deduction posted to final P&L account

• Archived: Deduction archived in Confido

Excited to learn more? Join the Deduction Lifecycle webinar!

🗓 Thursday, December 18th @ 1:00pm ET

💱 Multi-Currency Capabilities

Confido’s multi-currency capabilities support transactions, forecasting, and reporting across the platform. With smart, flexible currency controls you can:

• Set your default reporting currency and designate specific overrides

• Toggle between currencies in any view, from running promotions to analyzing performance to managing accruals

• Automatically refresh exchange rates to ensure you stay current, with a manual refresh available as needed

Built-in multi-currency capabilities eliminate the hassle of manual conversions, reduce the risk of errors from outdated exchange rates, and streamline your financial operations from end to end. It's the kind of flexibility that helps you scale with your global ambitions, without the overhead. 🌎️ 

✨ Updates That Just Make Life Easier ✨ 

• Ability to upload and track manual disputes in the system

• Additional clearing approval workflows

• Enhanced forecast locking configurations

• Collapsable scenario metrics providing more space to work

Confido’s comprehensive Disputes Management & Dashboard capabilities provide end-to-end oversight of the disputes lifecycle, including:

• Seamless dispute submission: Filter for likely disputable deductions identified by the system and auto-generate dispute messages

• Freight document retrieval: Automatically pull in or upload BOLs and PODs

• Efficient repayment tracking: Reduce manual reconciliation by detecting and surfacing repayment records automatically

• End-to-end actionability: From submission to approval to tracking and repayment, take full control of your dispute workflows

Other key features of Disputes Management & Dashboard include:

• Customizable, rules-based automation: Create rules to automatically submit low-complexity disputes, saving you hours and recovering dollars that may have slipped through the cracks

• Transparent status management: Clear visibility into all disputes stages from submission to repayment

• ROI clarity & reporting visibility: Calculate KPIs from dispute data, quantify dollars recovered, and view reporting metrics in real-time

• Filtering & search: Drill down into specific dispute segments or views

⬆️ Want to level up your disputes game? Reach out to your CSM today to learn more about this upgrade! You can also watch our recent webinar (details below) or book a demo here.

🎥 Upcoming Webinars

Missed past webinars or want a second look? Watch them here!

🥕 That’s a Wrap — See You Next Week!

With deductions lifecycle and multi-currency capabilities, this week’s updates are all about making your life easier as you scale and grow.