{"id":65517,"date":"2020-04-07T16:57:41","date_gmt":"2020-04-07T15:57:41","guid":{"rendered":"https:\/\/www.cashontime.com\/en\/?p=65517"},"modified":"2024-10-22T13:27:17","modified_gmt":"2024-10-22T12:27:17","slug":"covid-treasury-collection","status":"publish","type":"post","link":"https:\/\/www.cashontime.com\/en\/news\/covid-treasury-collection\/","title":{"rendered":"COVID-19: focus on cash flow and collections."},"content":{"rendered":"

How much cash do we have? How long can we last? What levers can we use to support our cash flow<\/strong>? How are our outstanding receivables? How can we secure our collections<\/strong>?<\/p>\n

How many times have these questions been asked by management committees since the start of the lockdown?<\/strong><\/p>\n

Despite the collective measures taken by the public authorities to cushion this economic shock, COVID-19 will take its toll on companies that have already been weakened, and some healthy companies are already caught up in the turmoil, and may find themselves dragged towards bankruptcy against their will.<\/p>\n

It is the responsibility of every company to protect itself from the increased risk of customer default, while at the same time taking steps to avoid aggravating the overall situation by squeezing inter-company credit.<\/p>\n

In order to avoid the full force of bankruptcy in the worst case, and longer payment terms in the best case, companies need, more than ever, visibility and anticipation of their outstanding<\/a> receivables<\/strong>.<\/p>\n

Tuesday\u2019s situation may be different from Monday\u2019s, so monitoring outstanding receivables according to risk criteria<\/strong>: segment, internal score, external score\u2026 has become essential in order to adapt collection<\/a> actions to difficulties.<\/p>\n

In a tense climate, it\u2019s even more inadvisable to follow up on a customer who has already paid<\/strong>, so it\u2019s wise to keep your customer accounts up to date with payments.<\/p>\n

At a time when you need to deploy maximum energy to contact customers, the internal collaboration of all the parties involved in the commercial relationship, albeit telecommuting, becomes essential if you are to move quickly and efficiently.<\/p>\n

If you can afford it, you\u2019ll certainly be inclined to show solidarity with your customers in their time of need<\/strong>. As with all benevolence, this cannot be done blindly and without a certain amount of rigor.<\/p>\n

In keeping with its motto, Focus on the Essential, DIMO Software offers you a Quick Win program to take advantage of CashOnTime\u2019s help in bringing in your cash as quickly as possible. Quick to set up and very easy to access, CashOnTime and its adapted implementation method will enable you, with little effort, to :<\/p>\n