The Ultimate guide to credit management software! The best way to faster payments and satisfied customers.
Having a lot of data is one thing, but if you don’t know how to analyse it, you won’t be able to get the answers you’re looking for. These 4 steps to creating an “insights first” culture will help your credit management team in leveraging data and keeping DSO down.
Credit management has moved up the agenda in many organisations over the past years. And rightly so, because a lot can be achieved with well-structured credit management. Credit management is much more than making sure that your customers pay on time.
The true success of your credit management lies in your policies and the way you carry them out. Choosing credit management software comes down to a simple question: is it enough just to be “good enough”?
Making customers feel good is not the priority of a credit manager, or is it? After all, you’re dealing with sensitive situations involving money – and you might not always be the bearer of good news. The key is to keep the people and the situation separate.
The purpose of automation software is to make the humans’ jobs easier. It offers them the time and tools they need to do their jobs better. Credit management can’t be carried out entirely by computers. At least not if you want to maintain any level of customer service.
It sure would be easy if there was a single solution in credit management that worked for everyone. But the truth is there’s no single “best” way to chase payments. Different things work for different people, depending on their personalities and preferences.
While those of us in the credit management and accounts receivable functions might not like to admit it, we are a (tiny) bit like modern-day Ebenezer Scrooges. We need to collect the money we’re owed. Whether it’s Christmas time or not.