{"id":65568,"date":"2021-04-23T17:34:39","date_gmt":"2021-04-23T16:34:39","guid":{"rendered":"https:\/\/www.cashontime.com\/en\/?p=65568"},"modified":"2024-10-22T13:22:26","modified_gmt":"2024-10-22T12:22:26","slug":"debt-recovery-litigation","status":"publish","type":"post","link":"https:\/\/www.cashontime.com\/en\/news\/debt-recovery-litigation\/","title":{"rendered":"Debt collection – Litigation: a strategic challenge for the entire company"},"content":{"rendered":"

The longer a dispute drags on, the more difficult it will be to settle. And your company\u2019s image will suffer as a result. It is therefore imperative to detect the reason for a dispute, and its relevance, as early as possible in the Order-to-Cash<\/strong><\/a> chain. So how can you improve dispute resolution as quickly as possible?<\/strong><\/p>\n

Digitization as a detection aid<\/h2>\n

In most cases, disputes are linked to your supplier\u2019s internal organization<\/strong>. It may be a delivery problem, known as a commercial dispute, or an error in the purchase order or in identifying the invoice recipient, known as an administrative dispute. Depending on the cause of the dispute<\/strong>, the person in charge of handling it at your supplier\u2019s may vary. So you need not only a fast dispute detector<\/strong>, but also an intelligent tool<\/strong> capable of addressing the right person<\/strong>.<\/p>\n

Organizing your invoices makes it much easier to detect disputes. Setting up an algorithm<\/strong>, or workflow<\/strong>, for resolving disputes<\/strong> helps to identify them in advance of invoice deadlines. Among other things, in a dispute resolution workflow, a change of status generates a change of contributor, so that disputes can be dealt with as quickly as possible. This avoids the need for legal proceedings<\/strong>. Such a system will intervene to record the reason for the dispute, the target date for resolution and the people involved. This 3-in-1 operational tool is designed to deliver speed, detection and relevance.<\/p>\n

In addition, your management tool can also display the status of the dispute<\/strong>: new, validated, booked or rejected, etc. Each status change triggers new alerts and notifications to the people concerned. E-mails or other relevant means of contact are then sent to the right people. In this way, digitization takes into account your dispute<\/strong>, a debit note or the creation of a credit note in accounting, etc. In other words, rather than opting for a divining rod to detect the source of your problems, digitization brings you modern, responsive tools<\/strong>.<\/p>\n

The human hand, the driver of all decisions<\/h2>\n

Digitizing a dispute<\/strong> calls for human intervention<\/strong> in all decision-making processes. The human<\/strong> being remains the pilot for the digitization of these processes in order to validate a choice<\/strong>. In a company, a financial management tool provides you with a co-pilot in charge of detection<\/strong>, so that all you have to do is process the key decisions<\/strong>.<\/p>\n

But these processes need to be complemented by other data<\/strong>. For example, a statistical study of disputes can help you define your priorities for eliminating their sources. Ultimately, co-piloted digitalization<\/strong> accelerates cash flow, while improving customer relations and satisfaction<\/strong>, as well as your links with suppliers<\/strong>.<\/p>\n

The CashOnTime solution, optimizing your customer relations<\/h2>\n

CashOnTime<\/strong> has the capacity to manage disputes as a co-pilot<\/strong>. \u201cOur business as a wholesaler generates specific flows linked to the financing of our suppliers\u2019 operations with our customers, so our customers make numerous deductions from their payments,\u201d explains Doroth\u00e9e POULETTE<\/strong>, Customer Relations Manager at INNOV8. \u201cUsing the dispute module enables us to centralize all these various deductions, as well as all disputes linked to price or quantity discrepancies<\/strong>.<\/p>\n

And the benefits of this intelligent system don\u2019t stop there. \u201cThis centralization<\/strong> enables each validator to carry out analysis actions as quickly as possible to validate or contest each dispute file<\/strong>, and also to share the information leading to this decision,\u201d adds Doroth\u00e9e POULETTE.<\/p>\n

What\u2019s more, CashOnTime\u2019s centralized information system benefits customer relations. A conclusion shared by Doroth\u00e9e POULETTE: \u201cThis centralization makes it possible to limit e-mail and document exchanges<\/strong>, thus optimizing our processing times<\/strong>, as well as information sharing<\/strong>. Our users have noticed an improvement in turnaround times, as they are no longer overwhelmed by email exchanges and multiple reminder actions, which were previously necessary.\u201d<\/p>\n

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