Customer payment predictions
One major issue that the Accounts receivable person faces is the uncertainty of when a customer payment might be made. This issue has caused many discrepancies between the company's cash balances and the difference between what was expected and what happened.
Because Contoso Electronics has been in business for over 10 years, it has an abundance of historical data that's associated with existing customers and their payments. Previously, the Accounts receivable person relied on this data to manually determine the likelihood that a certain customer would pay. However, with Finance insights, the predictive models can pull in the previous data from customers. As a result, it can show the likelihood that customers will pay on time based on predictive models that use historical data within Dynamics 365 Finance.
The image above shows one of Contoso's customers, Sunset Wholesales. They've been a customer for several years and have previously excelled at completing their payments. Accordingly, they have an 83 percent likelihood of paying the first invoice on time. Now, the Accounts receivable person can use this information to make better business decisions for the organization.