Too many reports, red tape, excess admin… there’s so much to do that can feel like it’s getting in the way of doing a good job in your day-to-day tasks. After all, how are you supposed to build client relationships and chase in cash if you’re sitting in front of a spreadsheet all day, trying to figure out what the numbers mean?
Sure, spotting trends and keeping track of progress is important. But these things don’t actually get invoices paid, do they?
We all know that management might think they want a big stack of finished reports sitting on their desks. However, what they really want is money in the bank to pay suppliers and paychecks.
And that’s not going to happen if the credit management team isn’t busy writing emails and making phone calls to get clients to pay their bills. Cash is king and it’s your job to keep the funds flowing. So, our advice is to cut out all the crap and focus on what’s really important.
The thing is, though, that the people in charge are still going to want progress reports and other data. So, the key is to find a nice compromise: supplying those all-important numbers while not letting them rule your day.
Here’s what we think you should do: cut the crap.
What we mean is to find a system that works for you, and to stop worrying about the rest.
The first thing you’ll need to do is define your goals. If you know what your goals are, then you can figure out how to reach them. Remember that good goals should be SMART. That means:
- Specific – It’s hard, if not impossible to meet vague goals. So be sure you have very specific numbers and deadlines.
- Measurable – If you can’t measure your goals, how do you know you’re actually achieving your objectives?
- Achievable – When a goal isn’t achievable, it’s just going to demotivate the team.
- Relevant – The goals should be relevant to the team at hand. You can’t expect the credit management team to increase sales.
- Timely – Goals should always have a deadline.
Once you’ve established SMART goals, then you can set your KPIs.
Key performance indicators are measurable values that demonstrate how effectively you are achieving your objectives. These should act as navigation tools to help you see how the team, or an individual, is doing, and it can help you make decisions on how to proceed.
Once your goals are set, and you’ve established and started measuring your KPIs, then you can easily figure out your priorities and get to work.
But what about all those other reports? Well, if you need them, they can always be created. One way to simplify this task is to use software that makes it easy to gather and organize data.
For example, OnGuard credit management software can collect information automatically, and it manages the data for you too. If you need a report, the system has several standard reports that can be generated with the press of a button, and since the system keeps track of historic data too, you can use that in your reports as well, giving you more useful insight.
Find out more
To find out more about how OnGuard can help you cut the crap and focus on what’s really important, contact us today on +31 (0)294 25 6666 or email@example.com. We’ll be happy to discuss the features and benefits of OnGuard credit management software in more detail. You can also keep up to date by following us on Twitter @OnGuardHQ.