1. Selection of debtors
The payment experiences of your existing customers are immediately visible, making it possible to make choices about whether or not to deliver. You can screen new customers through links with data suppliers and/or credit insurers.
2. Segmentation of customers
You can set up the software to prepare a specific approach for each customer type. You set this up yourself according to your preferred approach. Based on predefined values, the customer receives his invoices and follow-up per segment. An example of this is an iDeal link to SMS, WhatsApp, mail and e-mail reminders. This makes it easier for the customer to pay your invoice.
3. Automatic follow-up
After you set up customer segmentation, the system automatically follows up on invoices sent. The workflows are set to your requirements and provide an automatic process. This allows you to create a customer-friendly approach with a personalised touch.
4. Processing payments
Linking to your accounting package is easy. The software checks the payment against the details of the invoice and automatically processes the payments. After that, your balance sheet is up to date again.
5. Follow-up on disputes
The credit management software ensures that it is immediately clear who takes up the complaint and that you approach the customer quickly and correctly.
6. Monitor
The focus is often on screening customers, while reliable customers can also suddenly run into trouble. A sudden event, such as the corona crisis, causes payment positions to change overnight. Software allows you to 'monitor' customers automatically. Does something significant change with the customer? Do they get negative news or does their financial position change? Then you will be notified immediately.
7. Report
The software creates clear reports so you are always up to date on your customers' payment behaviour. Whether it is outstanding invoices, number of disputes or arrears per segment or per vendor, you always have the latest insight at the push of a button.
Conclusion
With credit management software, you never forget to perform an action. The software automatically sends reminders and the actions you need to perform manually appear on a clear schedule.
More information
Want to know more about buying credit management software or request a quote? Then contact the specialists at Xolv.
