Timing is always on our minds. When’s the best time to send out an invoice? When’s the money due? How long should we give before chasing in a payment? So what can you do to help ensure you get the right action, the right person and the right timing for your order to cash process?
How can you speed up the AR process, while also reducing errors and improving cash flow? By automating AR, you can improve your own data, get payments processed faster and free up time so your AR team can provide better customer service.
How do you determine the amount of credit you’re willing to give a customer? Annual accounts can help you make a more informed decision and help you avoid credit risk. It can also help you to make predictions about a company’s future success, which could lead to future opportunities for your organisation.
What’s more important the technology that you are using or the people that work with it? Technology is great, because it can help make your job so much easier, automating collections processes, collecting information and analysing information. But we also believe that people are, and will remain, integral to the collections process.
An ambitious credit manager wants to achieve maximum results – results that are made visible through a number of measurements and metrics. Daily measurements from your credit management environment, showing the financial health of your receivables portfolio.
For many companies, extending credit to customers is standard practice. But just because it’s normal doesn’t mean it’s not risky – and to keep cash flowing, effective credit management is vital.
IT has certainly been a tumultuous few weeks since the UK voted to leave the European Union. Whichever side you were on, there’s no denying that the fallout from the referendum has been dramatic.
Watch the recording of the webinar of September 28 and learn how to find the time to make your calls, get results and build a positive relationships with your customer.