Workflow Tools for Automated Credit Control
DCS automated credit control provides managers and credit control teams with a range of powerful alerting, event triggering, progress tracking, performance monitoring and process automation tools to reduce costs, streamline debt recovery processes and reduce debtor days.
A credit control workflow provides a well-defined yet flexible structure for your debt recovery process. A key element is the ability to set up sophisticated workflow rules incorporating credit control best practice and customer-specific criteria. The workflow process reduces reliance on individual team member knowledge, is easy to modify and is designed to integrate fully with your back office, ERP systems and accounting software.
Automating repetitive, labour-intensive debt recovery processes
By linking to your ERP or sales ledger, workflow rules can be set up to monitor payment due dates and customer credit limits and trigger automated payment reminders. This allows automation of routine debt recovery processes enabling controllers to focus on exception or high value debtors. Rules can also factor in account value, allowing you to instigate automated “low value-high volume” debt recovery processes.
Automating standard credit control correspondence
Credit controllers can eliminate the need to re-type standard correspondence using automated document production workflows. Reminder document templates can be established which contain standard content and fields for information such as customer contact name, company address, reference numbers and overdue account details which can be sourced from your databases.
Automated escalation – each customer is different
With the DCS credit control solution you can automate some or all stages of the escalation process and modulate the process on a per customer basis. This allows you to factor in different customer payment terms and modify payment arrangements in relation to capacity to pay.
- Having an account placed on “stop” may have serious consequences for some customers. By linking in to your ERP system, automated alerts can be triggered to allow timely intervention whenever a customer order breaches credit limit or overdue payment criteria.
- When credit control operations adopt special debt re-scheduling procedures with agreed “promise to pay” periods, billing performance can be tracked against re-scheduled criteria.
- Debt recovery workflows can be configured to automatically schedule customer calls for each controller. If a case resolves early or further contact is required, the schedule will update accordingly.
Monitoring debt recovery processes
Automated credit control workflows contain sophisticated tools to allow you to monitor different aspects of your debt recovery processes. By way of example, you can generate management data on all cases under review, total case values or earlyse flagging of potential debtors.
Management reporting aspects of credit control workflows also include dashboard and flow chart tools for keeping track of work in progress, controller productivity, work scheduling per controller or early identification of bottlenecks.
If you have questions about automated debt recovery, credit control document management or expected ROI, why not speak to one of our consultants on 01753 616720 or complete our contact form for a fast, tailored response.