Proactive rather than reactive credit control?

Eddie StanleyProactive rather than reactive credit control?

An ability to manage cash flow is crucial to business success, and the control and management of debtors is often a painful task, as a result of manual and repetitive processes. Recent external economic factors resulting from the impacts of a long term global recession, only adds to headaches of a credit control team. An introduction of effective tools to improve the collections process, is arguably more important today, than at any time in recent history.

Credit controllers are traditionally regarded as an essential element in business to chase late payments, and respond to customer queries. However, why just be reactive in this field when you can be proactive? Proactive businesses are generally regarded as market leaders, and those who are reactive are more likely to be ‘me too’, or market followers. The traditional style of credit control is a purely reactive process. You wait for non payment, and chase. Just because that is the way it has been done, does not mean that is the way it should work in the future. There is a better way.

Software is available now which can manage credit checking, credit insurance and risk analysis, through to promised payments. There is software which can even produce and automate chase letters and copy invoices. By proactively contacting the customer at various points in their lifecycle, rather than simply awaiting non payment, this software can automate a more proactive customer conversation. Throughout all phases, every event or process is tracked through credit controller’s workflow with in-built escalation procedures, and excellent supporting management reporting. This allows the credit controller to be freed from the everyday, and time to concentrate on really exceptional cases.

A major benefit of this pro-active approach is that the relationship between credit control team and the customer becomes positive. Most credit controllers traditionally ring up only to complain that the account is overdue for payment. By actively managing the account, it becomes possible to see any difficulties in advance, and work them out with the customer before they turn into a problem.

Safe credit control has taken these concepts of customer relationship management (CRM), and applied them to the credit control function, providing a softer, service orientated team of customer service representatives. If your current processes could be improved using our software and outsourcing services, why not get in touch?

Eddie Stanley

 

 


Eddie Stanley, Commercial Director for Financials and Credit Control

 

Safe take part in the annual fantasy football competition

Safe Computing have entered a league in the annual fantasy football competition organised by the Telegraph. The competition ‘kicks off’ on the 14 August 2010, and so far, 29 Safe employees have picked their teams. Safe have chosen a closed league, however anyone can enter a team by paying the registration fee and signing up at http://fantasyfootball.telegraph.co.uk. The Telegraph are offering a large cash prize to the winner, they have published that ‘there is £100,000 to be won, with £50,000 for the top prize,’ and entries are only £6 per fantasy team.

Anyone who signs up before the 14 August can take advantage of the ‘transfer amnesty’ to choose different players for free before ‘kick off’. Once the season begins, you can still change players, however there is a limit of 30 times. Lead Generation Manager for Safe Computing Renata Jones commented ‘I’ve joined the league, and confess to know nothing about football! It looks great fun, and the website really helps you to choose your teams, even if you are a complete novice like me!’

Safe have chosen to play the game the way the Telegraph recommends, by setting up a private league between colleagues, which any company can do. If you are a Safe employee from any of our four offices in Leicester, Nottingham, Hertfordshire, or London, and would like to join the Safe Computing fantasy football league with your team, simply sign up on the Telegraph website to choose your team. After signing up, just contact Raja Nawaz at Safe Computing Leicester office for the code to the ‘super league’.

We already have 29 teams in the Safe league, so a winner's medal will be presented to the Safe Computing league's champion at the end of the season. So come and join the fun!

Raja Nawaz

 

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