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Proactive rather than reactive credit control?

 

eurosProactive rather than reactive credit control?

Press release 2010

An ability to manage cash flow is crucial to business success, and the control and management of debtors is often a painful task, as a result of manual and repetitive processes. Recent external economic factors resulting from the impacts of a long term global recession, only adds to headaches of a credit control team. An introduction of effective tools to improve the collections process, is arguably more important today, than at any time in recent history.

Credit controllers are traditionally regarded as an essential element in business to chase late payments, and respond to customer queries. However, why just be reactive in this field when you can be proactive? Proactive businesses are generally regarded as market leaders, and those who are reactive are more likely to be ‘me too’, or market followers. The traditional style of credit control is a purely reactive process. You wait for non payment, and chase. Just because that is the way it has been done, does not mean that is the way it should work in the future. There is a better way.

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Software is available now which can manage credit checking, credit insurance and risk analysis, through to promised payments. There is software which can even produce and automate chase letters and copy invoices. By proactively contacting the customer at various points in their lifecycle, rather than simply awaiting non payment, this software can automate a more proactive customer conversation. Throughout all phases, every event or process is tracked through credit controller’s workflow with in-built escalation procedures, and excellent supporting management reporting. This allows the credit controller to be freed from the everyday, and time to concentrate on really exceptional cases.

A major benefit of this pro-active approach is that the relationship between credit control team and the customer becomes positive. Most credit controllers traditionally ring up only to complain that the account is overdue for payment. By actively managing the account, it becomes possible to see any difficulties in advance, and work them out with the customer before they turn into a problem.

Safe credit control has taken these concepts of customer relationship management (CRM), and applied them to the credit control function, providing a softer, service orientated team of customer service representatives. If your current processes could be improved using our software and outsourcing services, why not get in touch?

Eddie Stanley, Commercial Director for Financials and Credit Control

ENDS 

Editors notes

All media enquiries to renata.jones@safecomputing.co.uk.

Safe Computing is a leading supplier of software solutions to businesses internationally.  Although our solutions are widely deployed in many different business sectors we specialise in some key vertical markets including the recruitment sector.  The technology we offer is completely modular and can be integrated to any number of third party solutions. However our complete suite covers the entire staffing agency process from front office, through to pay and bill and then into financial accounts and credit control.

Safe have a long established pedigree of providing high quality financial accounting software and outsourcing services solutions. Our market leading solution, Safe financials addresses all elements of accounting with particular focus on credit control and management information. Our service and support services ensure complete customer satisfaction from installation to live on-going operation.

The advancement of our stand alone credit and query management solution has provided an exciting specialism for Safe in recent years and through strong integration with other enterprise resource planning (ERP) and accounting solutions has provided a superior solution to other dedicated solutions in this sphere.

With over 200 installations around the UK and enviable customer retention, Safe Computing with a collective team of 150 professionals in our Nottingham, Leicester and London offices. An almost nonexistent staff turnover ensures continuity that has led to a stable, profitable business, every year since inception. As a privately owned and self funded business, we have a commitment to growth whilst maintaining a healthy working environment and providing genuine value for money for our expanding and loyal client base.

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