Can we oppose quality of cash collection and customer satisfaction?

Some might be tempted to believe this; to imagine that a customer relaunched for unpaid invoices would develop dissatisfaction and decide to replace his supplier by choosing a concurrent. This paradigm is firmly rooted in the business culture between companies, yet it is the opposite of reality.

Every company wants to work with long-term suppliers who provide quality products and services and who manage their business well, including their receivables.

The quality of accounts receivable management and reminders facilitates the buyer's accounts payable, avoiding loss of time and thus increasing his satisfaction.

Moreover, an efficient collection process allows to identify a dispute as early as possible. It can be a customer dissatisfaction related to a defective product, an incomplete service or a billing error. An efficient collection process allows to deal with a dispute as quickly as possible, and to provide an appropriate response to the customer.

Dispute management, as an integral part of the collection process, is therefore an essential element of customer satisfaction and the durability of the commercial relationship.

It has been shown that a quick and efficient resolution of a dispute increases the level of customer satisfaction. The customer is even more satisfied once the dispute has been resolved. However, if the customer's request is not considered, or if the processing of his request takes too long, the effect is disastrous for the commercial relationship.

Beware, it is essential to go beyond the idea and the intentions. Every company has potentially hundreds, thousands or even tens of thousands of customers. The number of invoices issued is even higher.

It is therefore essential to set up processes and tools, to apply these principles while being efficient on a large volume.

Optimizing customer risk management, debt collection and dispute can only be done with tools adapted to your company, its size and the characteristics of its activity.

My DSO Manager offers a powerful and flexible credit management solution that will allow you to reach your goals quickly by:

• Monitoring the resolution of your disputes with the dispute calendar.
  
• Sharing and calculating the average resolution time of disputes by type, using the disputes report.
  
• Defining alerts to identify any dispute that exceeds the expected processing time.