Why would you do that?
Optimal credit management is not something you just do on the side. It requires timely, thorough and consistent action. This is crucial, we cannot stress it enough. The use of software is also crucial. We still often come across Microsoft Excel being used as a monitoring system. Unfortunately, in practice, this is prone to errors and the timelines are not monitored closely enough. A credit management software package is tailored to optimising credit management. So definitely worth investigating!
Not enough time, illness or holidays?
In practice, it also happens that timelines are not properly monitored because employees do not have enough time in the daily rush. Or they fall ill. Or they are - rightly so, of course - enjoying a wonderful holiday. To ensure continuity, outsourcing is definitely an option. Which makes money! Because then you can be sure that with all the know-how and the use of the right tools, your debtor management is not only ongoing, but also optimised. This is how we fly it at Xolv as follows:
- Current processes/tools and debtor portfolio are analysed in depth
- Your wants and needs about the customer approach are identified
- The entire process is structured and implemented
- The agreed debtor management process is implemented
- Periodically discuss reporting and the accounts receivable portfolio
- Everything is evaluated periodically and optimised where necessary.
Results
Optimal debtor management increases customer satisfaction. After all, you spot any complaints much faster, which you can then resolve. An unresolved complaint increases the likelihood of non-payment of the invoice. Because of the structure and follow-up, debtor management always continues, even during illness and holidays. Outsourcing management requires an investment, of course, but it is still cheaper than getting started yourself or having an employee do the subtask. Debtor management is also a real profession! Optimising your accounts receivable management will increase your working capital and reduce financing costs. Worth considering!
