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...
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...
AI(Artificial Intelligence) concept.
Technology is upending infrastructure, workflows, and processes in the financial services industry. Nowadays, an agile workforce which embraces everything the latest tech offers – analytics, AI, and robotics – can perform complex financial tasks quicker and more accurately than ever before. The impact of this trend is comprehensive and far reaching.
Rise of the machines
Once put to work,...
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...
Outsourcing - what, why and how?
Outsourcing is most successful in companies which have clearly weighed up the pros and cons of outsourcing. Essentially, this means you are unlikely to achieve your preferred outcome by taking shortcuts.
According to an E&Y study, outsourcing results in average savings of 10-20% a year. If you are going to embark on an outsourcing process and you...