Launch of E. Collection Receipt System

In an event held at the Grand Excelsior Hotel on 6^th of October 2022 and following multiple trial versions, Group Finance Division – Collection Dept. officially launched the new Electronic Collection Receipt system across the Group.

In what is perceived as a positive step in modernizing the Group’s Collection process and in the effort to contribute towards the Group’s Digital agenda, the implementation of this e-receipt system brings multiple improvements and benefits to the Collection process.  Based on a centralized electronic platform, the new e-receipt system enables Group Finance to monitor and easily track all transactions in real-time, to have complete control of the process as well as to ensure settlement and close custodies on a daily basis.

The event was hosted by Mr. Akef Al Attar – Group Finance Officer with Mr. Tarek Al Asmar (Group Collection Manager) and Mr. Bay Baklin Labib Abdelmaseeh (Collection Supervisor) leading the training session on the new E-Collection Receipt system to all staff in the Collection Department.

“The E-Collection Receipt system is a major step forward towards digitizing certain finance-related processes that require revamping and it will bring multiple advantages to all stakeholders involved – the Group, the concerned BU as well as their respective suppliers and vendors – at the very least move the experience from an offline to an advanced digital experience with all the controls and benefits that goes with it.  I also would like to take this opportunity to say a big thank you to Group IT for their support and contribution towards the successful implementation of the system and congratulate the team in the Collection Department on this great milestone” Mr. Al Attar said.