Can you tell a bit more about TotalEnergies and your role?
'TotalEnergies is the new name of Total and is one of the world's largest energy companies. We work with over 100,000 colleagues worldwide and operate in more than 130 countries. TotalEnergies is one of the largest investors in renewable energy and therefore we also offer clean fuel solutions. In the Netherlands, we are headquartered in The Hague and employ almost 200 colleagues.'
What major challenges do you see within credit management?
'Technological developments are also rapidly following within credit management. Through developments such as data analytics and Robotic Process Automation (RPA), we are undoubtedly going to see certain processes, such as administrative and repetitive tasks, being automated. We will also soon be able to better predict our customers' payment behaviour and adjust our approach accordingly. In short, we will have to deal with standardisation on the one hand, and customisation on the other. Furthermore, as far as I am concerned, the biggest challenge is to reconcile the human component with these technological developments. After all, not every decision can be captured in an algorithm.'
Will digitalisation affect the role of credit management and what other developments do you see?
'Certainly, which is why the focus is also on making all kinds of processes within credit management more efficient. Think of automatic credit checks, sending reminders digitally, using e-mandates for direct debit and using new customer payment methods like Tikkie, iDeal, Apple Pay etc.'
Will there still be a need for the 'traditional' credit manager in a few years' time?
Our profession continues to evolve, so the credit manager must also continue to develop. The human component will always remain important, but mainly focused on strategy and (proactively) advising the sales department. Incidentally, I think that not only the role of the credit manager is changing, but also that of the 'traditional' accounts receivable manager. I already see this within my own department. Calling and e-mailing customers nowadays only takes up a limited amount of time. The focus is mainly on analysing our (potential) customers, which creates opportunities and means we have to write off much less afterwards.'
In conclusion, do you have any good tips for credit managers?
'My tip is: see digitalisation as an opportunity, not a threat. With a good interaction between humans and robots, an organisation will start to see credit management as adding even more value.'
