Inventing the wheel yourself is not necessary. Certainly not when it comes to getting your invoices paid as quickly as possible. Optimising your accounts receivable management is effective in many cases: minimal write-offs from your debtors and your money in quicker. We often hear: 'We've already got it right'. Reality often proves more stubborn. Investing pays off. Especially when we are talking about your outstanding invoices.
In a nutshell, good debtor management means getting outstanding invoices paid on time and keeping your accounts receivable balance as low as possible. By keeping a close eye on the inflow of outstanding invoices, you reduce risks and can improve your company's financial liquidity.
With your incoming cash flow, you can make new expenses for your business, after which you will have income again. It is then so important that this cash flow keeps coming in. However, if payers are late, this can affect investments and expenses for your business. Optimising accounts receivable management is therefore an important part of your business processes.
In our article on debtor management you will read in detail about what it is and why proper implementation is so important.
What problems do we encounter most often in practice today that need improvement? The most common bottlenecks in credit management are:
We regularly see that structural improvements can be made that maximise profits. Examples of situations where credit management advice comes in handy are:
Every company is different and has its own needs and wishes. We naturally tailor our advice accordingly. Basically, with us it looks like this:
We not only advise but also come up with solutions that we actually implement with you.
Within Xolv, we have gained decades of knowledge and experience in all facets of debtor management: administration and management, from entrepreneur, insurer and broker, industry-wide, from SMEs to multinationals, nationally and internationally. So whatever your question, we will always find an appropriate solution.
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