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Technology

Taking credit collection to the next level…

Friday, May 22, 2015

It makes obvious sense to focus on credit collection, and on how you can significantly improve on your ERP solution, if you would like to understand more about the specific gains from adding a solution like OnGuard Credit & Collection to your business solution portfolio.

 

Credit collection solution

I believe any company could gain considerable benefits by implementing a solution to optimize this space, ideally covering both cash allocation, credit & collection management and some degree of incident/dispute handling. We have been working with the OnGuard best practice solution in this area, and I have been recommending it to several of our customers. Why specifically this solution? Because it helps you optimize your working capital through improved customer intimacy. The OnGuard solution covers all the related areas of Cash allocation, Credit management, Collections management and Complaints management.

 

One of the biggest attractions in this solution is that it gives you an end-to-end tool for credit and collection, which allows you to make your collectors work in a lot more effective manner, because it helps them:

  • spend time on value-add and getting more done, with the help of a dedicated, efficient tool
  • Articulate a clear strategy and approach to handling collection, adapted to your processes
  • Set up specific approaches for specific customer groups with specific thresholds and actions
  • Achieve an end-to-end handling of credit & collection processes, including actioning, interacting, recording, reporting, etc., with the possibility to automate a lot of the activities
  • Streamline processes across entities
  • Monitor and report on a wide range of variables related to collections

And these are benefits over and above what the basic ERP solution can give you in this area.

 

And of course, it goes without saying that the tools and the processes can be adapted to your business, customer groups, markets, processes, etc. I think it is very cool, and I can talk more about it if you want the nitty gritty details! Just get in touch with me.

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