Interview with Alexina DUBOIS, Customer Accounting Manager at Zolux
CHALLENGES:
Before adopting your solution, our credit management heavily relied on Excel, which meant manual processes and a significant investment of time.
Our team grappled with effectively managing our cash recovery process, often resorting to monotonous tasks such as making phone calls to remind clients about overdue payments.
Dealing with emails, drafting payment reminders, and creating documentation for certified mail took up significant resources. These tasks, which accounted for roughly 50% of the team's workload, impeded our ability to concentrate on more valuable aspects of our work, like analyzing key metrics and managing accounts receivable. Moreover, without an efficient system in place, late payments continued to be a recurring problem, affecting our financial results and overall productivity. Generally, our team encountered difficulties in efficiently handling the number of clients and unresolved issues.
The objective was to enable the team to manage a larger client base while improving efficiency in our daily client interactions. We aimed to select software that could autonomously perform most operational tasks.
SOLUTIONS
We successfully implemented your SaaS solution that revolutionized our operations. By integrating automated email reminders and notifications, manual tasks were minimized, allowing us to focus on strategic activities.
"Automation is one of the most important strengths of My DSO Manager, it's just magical!"
The seamless integration with our ERP system ensured smooth data transfer, enhancing operational efficiency. Today, updates occur several times throughout the day to ensure smooth integration of our data into your platform. Moreover, the platform's intuitive design and Online Help resources facilitated easy navigation and utilization of all functionalities.
In managing customer relationships, we have the flexibility to customize dunning scenarios on the platform based on our preferences. For instance, when dealing with clients facing significant challenges or those where confidence is lower, we have observed a notable increase in responsiveness. The power to make the decisions now lies entirely with us. We also provide our clients convenient access to their account statements with just one click through an integrated button, enhancing transparency and responsiveness.
It is worth to mention that the responsive of your support team, with an impressive average reply time of less than one hour, plays a crucial role in maintaining uninterrupted operations.
Overall, the implementation was quick and efficient, thanks to predefined email templates and personalized branding options, ensuring a seamless transition to all our 14 entities within the group. With ongoing operational efficiency and improved client interactions, our organization has experienced significant benefits from this solution.
RESULTS
Since implementing your solution in 2018, we've experienced tangible improvements across multiple fronts. The solution automated approximately 70% of the dunning process, significantly reducing the need for manual intervention; everything is prepared and sent automatically.
Time spent on telephonic reminders was reduced, allowing the team to focus on more high-value tasks such as reviewing key performance indicators (KPIs). Our team now dedicates more time to analyzing the KPIs and mitigating credit risks, resulting in a more proactive and informed approach to decision-making.
"As part of my morning routine, I review various indicator dashboards to kickstart my day. My initial focus is on assessing the aging balance and delving into customer risk dashboard in regards to credit assurance. Specifically, I pay attention to clients with late payments but low risk, as well as those lacking credit assurances. If any issues arise, I promptly alert my team for swift action."
The reduction in late payments and enhanced visibility into financial metrics have translated into measurable financial benefits. Within the initial six months right after implementing your solution, we started to observe these positive outcomes, with continuous support and updates playing a crucial role in maintaining our success over the past five years.
Moreover, the platform's user-friendly design has garnered widespread acceptance within our organization. It's a real time-saver for everyone using it, from the whole team of credit management to our CFO and even the CEO, who appreciate its simplicity, versatility, and transformative impact on our processes.
Ultimately, your solution has empowered us to effectively navigate challenges, optimize resource allocation, and achieve financial stability.