How accounts receivables automation adds value to your shared service centre
It’s 3pm on a wednesday afternoon. You feel tired, stressed and your stomach is growling. What do you do? You could go for coffee and chocolate or choose hummus and vegetable crudites as a snack. This healthier snack might not be as tempting or provide that instant gratification. But it is better for your long-term well-being.
Tools used in business are often similar – there are quick fixes and long-term solutions. Both options have their place and the right choice depends on what you need. Automating with the right tools will transform your SSC from a transactional hub to a place that adds serious value back to the board fast and will keep doing so in the long-term. So you don’t have to make that decision.
Automation in a shared service centre
Automation is useful in any business environment. But the effects in a shared services centre are even more amplified.
● Process standardisation – When processes are automated, it is also standardised. It helps to ensure all members of your team are doing the same thing. It’s easier to create new procedures and update existing ones.
● Consistent service – Automation means consistency. If dunning is done automatically it doesn’t matter which employee generates the invoices. Or which customer is addressed. The service provided will be equal across the board and reliable.
● Increased motivation – Doing the same thing over and over is dull and daunting. By automating basic tasks you make your team more efficient and effective. This helps them to focus on what matters; human interaction. And a motivated team means better customer service.
The value of automation
The success of a business relies on a wide range of variables coming together in just the right way. You need skilled people, a great product or service and robust strategies. And customer relationships need to be strong too. The tools you use are an important consideration in this equation.
In accounts receivables you need an effective system for invoicing and chasing up payments. After all, if invoices aren’t settled quickly and efficiently you are losing money.
We’ve already established that automation helps you speed up certain processes. But it will also make you more effective and help you focus on what matters most.
● Prioritise your workload
● Segment your customers
● Score behaviour and attributes
● Integrate third party information
You store all information in one system and you can share it too. This ensures that you have more insight and transparency. And you don’t have extra work clicking through many windows and storing info in three systems. You focus on what matters – customer contact.
Getting it right
With the right automation you and your team don’t have to waste your time on manual, tedious and repetitive work. It frees up your time for the work that gets the invoices paid. The result? Faster payments, motivated staff and happy customers. And don’t forget that management will be happy with the result as well.
Automation does not mean you are starting to treat your customers as numbers. It frees up time to treat your customers as actual individuals and strengthen your relationship.
When building the business case for automation you will be surprised with how fast you can create time to value with your team. It’s all about making the right choices, and following through (clichés are true).
So ask yourself the question; to automate or not to automate?
Now, about that cup of coffee…
Contact or more information?
Do you want to know more about how OnGuard credit management software can help you? Please contact OnGuard via +31 (0)294 256666 or email@example.com. Follow @OnGuardHQ on Twitter to stay up to date.