Interview with Frank Schell, Credit Manager in Group SPE

THE CHALLENGE

In the past, our group faced several challenges. We lacked effective solutions to improve our collection processes, and this hindered our efficiency. Manual collection and reminder processes were time-consuming and prone to errors.

Furthermore, it was challenging to identify and address disputes and problems within our previous system. The cultural differences in payment practices among clients in different countries further slowed down the collection process. Communicating with clients through various media platforms was also proving to be a challenge.

THE SOLUTION

To address these challenges, we realized that we needed to implement a software solution. After extensive analysis and research, we found your AR solution to be the most promising fit for our needs. Your user-friendly platform and easy configuration allowed us to integrate the software smoothly into our system.

The digitization of reminders and the inclusion of connectors for different communication media improved our efficiency significantly. Moreover, the system provided us with valuable data to qualify and follow up on disputes and other aspects of the collection process , enabling us to work preventively rather than reactively.

The results

With the implementation of your solution, our efficiency has drastically improved at all levels. For example, risk meetings for outstanding accounts and revaluations are now conducted on your platform, streamlining the process and enhancing collaboration among the team members. We can now easily see and follow the actions, check the treasury in real-time, and manage our relationship with clients more professionally and efficiently. The positive changes in our methods and processes have been well-received by the majority of our clients. Our customer relationship has been streamlined as we collect more data, including disputes, and use it to detect and resolve problems promptly.

The time savings are incomparable to our previous manual methods. Previously, preparing reminders and communication content with clients through different media took a considerable amount of time, but now, thanks to your platform, we can accomplish these tasks in less than 2 minutes, in different languages, with all the required info and details along with the content to be sent to the client.

Moreover, the system's ability to eliminate errors has significantly accelerated our collections and customer payments. Now with the improved accuracy of your collection system, we encounter fewer delays due to small errors and payment discrepancies.

My DSO Manager has become the common language among our staff, whether accounting, financial or commercial staff, enabling smoother communication and understanding of key indicators. For instance, during risk meetings, the statistics and data are readily available on your platform, facilitating informed decision-making and planning.

Overall, we are highly satisfied with the results, and I would confidently recommend your solution to others for its user-friendliness, ease of integration, and remarkable efficiency. The integration of your AR solution has transformed our collection processes, allowing us to work proactively, detect and address potential issues, and ultimately optimize our collections.