A missed payment doesn’t necessarily mean a bad customer, however it’s important for you as company owner to know how to get unpaid invoices paid without jeopardising your relationship with your customer. It’s also important to understand what all the different terms mean so that you don’t get lost when you come across terms like payment orders, debtors and limitation.
With over 40...
When it comes to unpaid invoices, people are quick to reduce the service level to the minimum necessary. Because the good customers who pay for services quickly and reliably are at the center of day-to-day business, and nobody wants to invest any more in supposedly bad customer relationships. But an unpaid invoice can often be the result of a short-term payment difficulty or a forgotten invoice -...
This is how e-commerce companies can avoid additional effort and costs in accounts receivable management in cases of fraud or false identity - and also improve risk management at the same time.
Collection and e-commerce - a very dynamic issue that has concerned me as a Key Account in the field of receivable management for many years. On the one hand, the focus is always on retaining the...
Many companies still do not focus on optimising their processes although this can strengthen the customer relationship as well as increase the number of paid invoices. At the same time, companies are gaining more discretion when it comes to using resources. By avoiding investments in necessary internal dunning processes, this allows them to concentrate on their core business. Let’s take a closer...
The digital transformation of the insurance industry is already well underway. This is not just visible in journals and blogs – customers are already experiencing it in their day-to-day dealings with their insurers, such as through innovative apps and an increasing range of digital policies. New payment methods are also changing customer expectations in downstream transactions.
For me as...
Big data, this term has now become an integral part of corporate terminology, and not just in IT. I am also faced with this term daily in my work at Arvato Financial Solutions.
But what is big data? I will answer this and other questions in this post. You will also learn how you can use large quantities of data for predictive analytics, especially in the insurance industry and especially for...
Business concept. Business people discussing the charts and graphs showing the results of their successful teamwork.
Projects on process optimization are frequent. The focus is usually on sales, underwriting and claims management. The dunning process is often left out. From my work at Arvato Financial Solutions, I know that optimizing the dunning process is very helpful when facing important strategic challenges in the insurance industry. The success of the dunning process depends on trends and strategic factors...
Customer retention is essential for every business in every industry. And yet, many businesses are quick to terminate relationships with customers who default on their loans. Could this delicate situation actually be an opportunity in disguise? When customers fall on hard times, implementing a suitable debt collection process might be all it takes to help them get back on track. Here, Volker...
It’s a fact of life that sometimes customers don’t pay on time. Not even after a couple of reminders. Or a debt collection demand. Taking care of your own invoicing and collection means you have to carry that debt, and the risk of never getting paid.
Every company I work with knows that they face the risk of customers who won’t or can’t pay. Some companies use payment providers, who...
What a year for payment services and debt collection. If one word summed up 2016 for us and our clients it was growth, proving once again that nothing breeds success like success.
In Norway, we announced several new partnerships with, among others, parking operator Europark, data communication service provider Broadnet, mobile payment provider Strex, online grocer Kolonial.no and hardware...