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”?
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.
ERPs are incredibly powerful tools that help a variety of business functions run more smoothly. However, specialist software is your best choice if you are looking for added functionality. The good news is that you do not have to make a choice, ERP and point solutions like OnGuard can perfectly enhance each other.
What do you do when a client doesn’t respond to an invoice? Do you send them another one with a letter very similar to the first? Even though Einstein said insanity is “doing the same thing over and over again and expecting different results”.
OnGuard and Credit Tools are combining forces and are announcing a merger. As a result, the position of the new organization as market leader in credit management software in Europe will be further strengthened.
For anyone involved in the order to cash process, late payments can be a serious problem for an organisation’s cash flow. But what can you do to manage money more effectively in your business and ensure the cash is flowing smoothly? Here are our top tips.
For both SMEs and larger firms, maintaining good cash flow can be an ongoing struggle, especially if late payments are an issue. Improved government policies are not strong enough to prevent late payments, so you need to take a more proactive approach to lowering DSO.