{"id":65572,"date":"2021-05-29T17:38:40","date_gmt":"2021-05-29T16:38:40","guid":{"rendered":"https:\/\/www.cashontime.com\/en\/?p=65572"},"modified":"2024-10-22T13:19:38","modified_gmt":"2024-10-22T12:19:38","slug":"collection-receivables-digitization-collaboration","status":"publish","type":"post","link":"https:\/\/www.cashontime.com\/en\/news\/collection-receivables-digitization-collaboration\/","title":{"rendered":"Debt collection – Digitalization and collaboration, the keys to customer proximity"},"content":{"rendered":"

The same customer may work with different departments within the company, and have different behavior or payment methods with each of them<\/strong>. Inconsistency and disharmony in your internal processes can lead to confusion. Added to which, your company\u2019s image can be tarnished in the eyes of customers by its non-collaborative practices. So how do you harmonize<\/strong> the sharing of knowledge and processes at the heart of a company?<\/p>\n

Share customer knowledge to boost your processes<\/h2>\n

Securing the customer experience<\/strong> and identifying new business opportunities<\/strong> can only be achieved through sharing<\/strong>. By calling on your internal departments to collaborate around shared customer knowledge, you gain access to key information<\/strong>. Credit management and finance departments are at the heart of this data centralization, harmonizing financial relations and spreading the cash culture<\/a><\/strong> throughout your operations.<\/p>\n

To improve responsiveness and speed<\/strong>, you need to detect customer risk<\/a><\/strong>. And the more sensors there are, the easier it becomes to identify risks. So we need to open up and democratize financial information<\/strong>. Another step is to develop cash-generating collaboration between your company\u2019s key functions<\/strong>. These include sales, purchasing and supply-chain production. These functions are still articulated in different ways and, in order to federate them into an essential lever<\/strong> on cash flow, knowledge sharing<\/strong> is required.<\/p>\n

Democratize internal collaboration to unlock opportunities<\/h2>\n

\u201cWe set up a system of collaborative tasks<\/strong> to send requests for various modifications (change of name, address, addition of purchase order, etc.) in our ERP to the teams concerned,\u201d explains Thomas JAN, Data Quality and Program Coordinator for ARKADIN. He concludes: \u201cThis has enabled us to manage this type of request much more effectively<\/strong>, as it can now be quantified<\/strong>, whereas in the past it was done by email.\u201d<\/p>\n

By digitally transforming<\/strong> exchanges between departments, you gain visibility over customer information. For example, a litigation workflow<\/strong> can bring together the legal and logistics departments to assist in gathering this thorny data. In another example, a workflow can be created for the sole purpose of validating or rejecting a request for outstanding<\/a> receivables from different departments. Digitization<\/strong> thus creates better visibility of outstanding amounts, unpaid invoices, disputes and business opportunities. It makes it possible to set up General Sales Conditions, General Payment Conditions, or even authorized levels of outstandings agreed between departments. The digitization of inter-departmental<\/strong> exchanges helps to build close customer relations<\/strong>, while promoting internal collaboration<\/strong>.<\/p>\n

Maintain customer relations to gain a distinctive advantage<\/h2>\n

Any increase in customer proximity<\/strong> means shorter payment times<\/strong>. With the help of digitalization<\/strong>, far from dehumanizing, you revitalize your customer interactions<\/strong>. Customers have easy access to their billing data via portals. They can pay online, view their invoices or check their due dates. The emergence of artificial intelligence<\/strong> means that all players can focus on their core business<\/strong>. And the interoperability of systems between originator and payer is also helping to support this major change in companies. Closer to your customers, and more focused on value-added tasks, digital transformation can only benefit you<\/strong>.<\/p>\n

The CashOnTime solution: the customer portal, a differentiating asset<\/h2>\n

\u201cThanks to CashOnTime<\/strong>\u2018s customer portal, we can offer our customers a self-service platform<\/strong> giving them real-time access<\/strong> to all their invoices<\/strong> and statements<\/strong>. We also offer them the possibility of communicating easily with our collection team<\/strong> and paying their invoices online<\/strong>,\u201d explains Marina BRICENO, Information Technology-ERP Systems at GARDA. It\u2019s a facilitating management tool that will save you time and efficiency. A conclusion shared by Marina BRICENO: \u201cOur customers appreciate the portal\u2019s ease of use<\/strong> and the productivity gains it delivers<\/strong>.<\/p>\n

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