Payment Term Checker app - object-centric
The Payment Term Checker app for Accounts Payable compares payment terms on open accounting documents, purchase orders, and vendor master data to identify unfavorable mismatches, and prioritizes the documents for you to resolve. With the Payment Term Checker app, you can:
Drive free cash flow improvements by avoiding clearing accounting documents too early due to unfavorable mismatches.
Improve Days Payable Outstanding (DPO) by maximizing mismatched and short payment terms.
Standardize and harmonize payment terms usage by identifying vendors with multiple terms or inconsistent usage of payment terms.
The app helps you to optimize your payment terms end-to-end, which can significantly enhance your free cash flow.
The Payment Term Checker app comes with these views:
Getting Started - this view gives a brief overview into the app itself, its individual views, as well as some introduction to the use cases covered by the app.
Payment Term Mismatches - this is the main (operational) view that business users can use for their daily tasks, with the tabs Open Documents and Cleared Documents.
The Open Documents tab shows all open accounting documents that have payment terms which don’t match those in the purchase order or vendor master data. The app prioritizes the list by the potential free cash flow impact. As the documents are not yet cleared, updating a payment term can have a direct impact on your working capital.
The Cleared Documents tab shows already cleared accounting documents that have payment terms which don’t match those in the purchase order or vendor master data. The app prioritizes the list by the potential free cash flow impact. As the documents are already cleared, no direct impact on working capital is expected here. However, the view helps you analyze and track historical payment term mismatches to provide the complete picture.
Value Tracking - this view follows up on your operational payment term mismatches and shows resolved or rejected payment term mismatches.
The Resolved Documents tab shows values realized by updating mismatched payment terms in the underlying source system. It tracks payment term changes made to accounting documents and classifies them into “Realized”, “Pending” and “Missed” free cash flow impact.
The Rejected Documents tab shows payment terms manually classified as “Rejected” in the Payment Term Mismatches view.
Payment Term Analytics - this view contains deeper analytical insights into the three main use cases of the app:
Payment Term Mismatches Tab - contains mismatches rates and further details to help identify the main drivers impacting mismatch rates.
Short Payment Terms Tab - contains short payment term insights and helps identify the main drivers impacting short payment term usage, such as vendors that mainly use terms below certain thresholds, and vendors whose vendor master data shows they have used longer payment terms.
Payment Term Harmonization Tab - contains insights into vendor/company code master data to determine where better payment terms are available for vendors interacting with multiple business units.
Value Framing - this view provides insights into the value of the three core use cases (Mismatches, Short terms, Unharmonized terms) and how much value can potentially be realized by improving payment terms.
Settings - this view lets you change parameters such as payment term strategies and short term thresholds to make the app reflect your business needs.
This documentation is for the object-centric version of the Payment Term Checker app, which works with objects and events created for object-centric process mining. It uses the perspective_celonis_Accounts Payable perspective that’s supplied with our object-centric data model. The perspective includes the objects, events, and relationships from the object-centric data model that are relevant for the Accounts Payable business process.
For the documentation and setup instructions for the case-centric version of the app, see Installing the object-centric Payment Term Checker app .