Alejo Lopez Casao
Empresologo | Credit and Operations Director
  • Home
  • Blog
  • About me
  • Knowledge
  • Tools
  • News
  • Contact
  • AL Credit Experts

Empresologia

General Ideas on
Economy, Business and Life...

my other blog

Happy customers pay earlier

6/7/2021

0 Comments

 



Cash is King... , so improving cash flow is critical for any company (lowering liquidity risk, reducing borrowing costs,...), and the main key for cash flow is timely recovery of the account receivables.

Collecting receivables is hard even in the best of the situations (nobody wants to let go their hard earned money) and in times of crisis like today is harder: increasing DSO and delinquent days, bad debt, disputes,...you name it!

So, what can we don to improve cash flow? Streamline the back-office processes and automate as much as possible the accounts receivable team: making the customer ´experience (from order to payment, order2cash) as smooth as possible, empowering customers with digital invoicing and payment options, on-demand help, and other easy interactions that show a customer-centric approach.

Companies that just settle for old ways of managing receivables, or trust on technology that only simplifies back-office tasks without actually rethinking the process... they are putting their customer relationships at risk.... and their business too!

The root of the problem is the antiquated receivables processes that most businesses depend on. Their enterprise resource planning (ERP) systems are built to manage data, but nobody actually use the data to better serve customers.

So, what should we offer:

• Online paper-less experience, information at their fingertips or mobile ways

• Invoices should be easy and delivered as desired

• Payment method should be flexible while payment terms should be fixed (but agreed)

Make customer life easier on the payment experience and they will do more business with you and get paid

https://www.linkedin.com/pulse/h-alejo-lopez-casao/?trackingId=v0Grg3QLTIObMFAdfX0lsA%3D%3D



Via https://empresologo.postach.io/post/happy-customers-pay-earlier
0 Comments



Leave a Reply.

    Author

    Licenciado en Empresariales soy por lo tanto un empresologo...y he trabajado como morosologo, analista,...

    Archives

    March 2022
    February 2022
    November 2021
    October 2021
    September 2021
    July 2021
    October 2020
    June 2019
    November 2018
    February 2018
    May 2017
    March 2017
    December 2016
    November 2016
    October 2016
    August 2016
    June 2016
    May 2016
    January 2016
    December 2015
    November 2015
    October 2015
    July 2015
    May 2015
    January 2015
    December 2014
    November 2014
    September 2014
    July 2014
    June 2014
    March 2014
    February 2014
    January 2014
    October 2013
    September 2013
    July 2013
    June 2013
    May 2013
    April 2013
    March 2013
    February 2013

    Categories

    All
    Accounting
    Credit
    Excel
    It
    Leasing
    Risk
    Tax

    RSS Feed

    Tweets por @empresologo
Powered by Create your own unique website with customizable templates.