Receivables management - solutions

Reduce operational, capital and bad debt costs within the credit function and wider sales-to-cash cycle?

We understand the need to reduce costs whilst maintaining operational performance and customer retention, so we focus on the entire sales-to-cash process. We review credit-related policies and procedures, interview relevant staff, evaluate performance and identify key drivers and inhibitors of cost and performance.

Only then do we design and implement more effective working practices and departmental structures in line with qualitative and quantitative benchmarks, utilising technology to automate workflow and create further efficiencies.

Achieve a step change in receivables performance?

Achieving a true step change in receivables performance requires a genuine commitment from organisational leaders to the same vision, regardless of functional barriers, and a willingness to accept and implement change.

Having identified the starting point by evaluating receivables performance, resources, IT systems and wider sales-to-cash working practices - against both qualitative and quantitative benchmarks - we can help create the vision by determining potential for improvement.

Using our knowledge of best practice, we focus on implementing excellence in receivables management - supported by a culture of performance management - where key performance indicators and targets are embedded in personal objectives across all relevant functions, and management reporting brings visibility and transparency to performance.

Improve customer service and retention?

Given the level of time and cost invested in customer acquisition, it makes sense to maximise customer retention and repeat business by delivering a high-quality customer experience. Drawing on our experience of best practice in the sales-to-cash cycle, we can help review existing credit policies, procedures, IT systems and workflow - identifying and implementing improved working practices.

We focus on key areas such as customer acceptance, risk management and optimisation of credit lines through to billing, collections and cash allocation. Most importantly, we ensure dispute management protocols are robust, removing obstacles to payment and identifying associated process weaknesses for review and re-design.

Minimise impact on receivables of organisational change?

Any form of organisational change or major system implementation creates a significant period of risk for receivables when performance can deteriorate dramatically. Too often we see a fragmented organisational structure and an inconsistent approach supported by multiple IT systems.

Causes include insufficient or inadequate planning, experience, dedicated resource and communication, allied to a lack of prioritisation of back office functions. Our experience can help minimise potential impact on receivables performance and customer service.

We can help evaluate and design your credit model, based upon either a shared service centre, de-centralised or hybrid approach, before pro-actively re-aligning credit strategy to reflect new corporate goals or structure. Equally, we re-define credit policy and process in line with best practice and rationalise credit-related IT systems to ensure consistency and optimise effectiveness.

Outsource part or all collections activity?

Often the most effective way to perform certain functions is to make a strategic decision to outsource them, particularly as cross-border business becomes increasingly common - introducing new demands for multi-lingual capability within collections. However, you need to be certain that any outsource partner will deliver at least the same level of diligence and professionalism to your customers.

As a provider and a customer of our own managed services, we are uniquely placed to understand and deliver service excellence which consistently outperforms the UK industry average.

Our collections staff, many of whom are foreign nationals, have extensive experience of handling complex multi-territory debt issues using a unique web-based platform in a way which is both cost effective and seamless with the rest of your operations.