It’s ironic that technology was actually supposed to improve communication when you consider that some forms of tech have left many of us scratching our heads wondering what it’s all about.
Take the mobile phone. Remember when it was just a device used for talking to other people and playing epic games of Snake on your lunch break? Now it’s all emojis and incomprehensible acronyms like LOL, ROFL and TMI. Ah, TMI, I actually know that one – Too Much Information. Yes, sometimes it can feel like the world is throwing too much information at us. However, when it comes to running a business and keeping customers happy, there’s no such thing as too much information, only how customers obtain the information which can be the issue.
When a customer knows the information they require, wishes to make a payment against an outstanding invoice, or wants to tell you about a query that is preventing payment, how do they communicate with you and what actions do both parties have to take to achieve the desired result?
Normally, they would have to contact you during office hours to request the copy document, discuss their query, or make a payment over the telephone, all of which can be time-consuming exercises. Not that it should be a chore to deal with your customers of course, particularly when the end result leads to an outstanding invoice being paid. After all, getting paid for the products or services you have supplied is the main objective for your credit controllers, right?
But is there another way?
A way that is not designed to deter customers from picking up the phone and speaking to one of your team, but instead offers convenience, a reduction in operating costs, and an alternative method of obtaining such information and making a payment with little, if not zero impact on your internal resource.
With Agile Payment Solutions, credit control services are available 24/7. Customers are free to view and download all manner of documentation in their own time such as invoices and proof of delivery documents. Not only that, they can take actions such as making payments or even send details of a query that may be preventing payment directly to your Accounts Receivable team, allowing you to identify and resolve the issue sooner leading to payments being made more quickly. Payments made through the Portal will also be allocated automatically onto your sales ledger and ERP system, and this can all be done while your credit control team are busy with other jobs or even tucked up in bed at night (they’ll not take too kindly to a phone call at that hour).
It gives customers greater freedom too as they don’t have to rely on your office hours or someone picking up the phone to get things moving. They can happily get their business done at a time that best suits them and access the relevant information without making countless requests to your staff.
With round-the-clock credit control services, you become more attractive to both UK and overseas customers who are equally concerned with running their operation as efficiently as possible. It’s a win-win for everyone, even that poor, overworked office printer which always seems to need its toner replacing and the franking machine that needs another top up.
Offering direct access to customers and reducing the daily stream of requests into your Accounts Receivable team will undoubtedly result in your credit controllers time being freed up to chase the outstanding invoices, which in-turn will drive cash back into your business, reduce both your DSO and bad debt provisions, and ultimately increase the profitability of your business. And with the increase in productivity and efficiency there may even be time for an extra cuppa and another game of Snake, sorry, Angry Birds!