What starting strategy with Search & Assign?

How to Implement Your Start-up Strategy with AI Search & Assign

The technical project of My DSO Manager implementation is completed. Customer and accounting data are synchronized one or more times a day between your company's systems and your platform. The connector with Electronic Document Management (EDM) allows you to retrieve invoice PDFs. Other connectors available, financial information, credit insurance, online payment solution, etc. are also activated on your platform.

This is followed by the Administrators and Users training, the purpose of which is to configure your platform on all functional aspects; cash collection, risk management, portfolios, etc. and to train all users!

Next comes the start-up and Go live which usually take place in the last part of the training. At this point the question arises: what is the start-up strategy? That is to say, how to get started in My DSO Manager in the most relevant way, without being drowned under too many actions but also by being oriented towards the most important issues?

This is where Search & Assign comes in, by allowing you to set this subtle balance that leads to performance, and this from the first hours of using My DSO Manager.

Example with the My Company North America demo platform

First step, segment the customer portfolio into several parts by creating and saving dynamic searches: strategic customers, risky customers, standard customers, small customers and customers with old non-qualified delays, more than 30 days in our example.

For My Company North America, this segmentation is done on the basis of the outstanding amount for the first three categories, the risk score and the payment profile for the fourth, and the age of the receivables for the fifth. It can also be performed and/or refined based on other information present in My DSO Manager such as the existence of emails details or not.



Second step, create a collection scenario for each category. In this case, we will use the same collection scenario for standard and strategic customers, but with a variation depending on the presence of a contact email or not. The scenario for small customers will be highly automated, while the one for customers with old delays will not include any action so as not to pollute the agenda. These customers who require adapted management are isolated in a dedicated group that can be found in the aging balance and all reports by filtering on their group.



Third step, configure Search & Assign so that it dynamically assigns the appropriate collection scenario and the appropriate customer group based on each customer category.

Configuration of the assignment of collection scenarios:



Configuring group assignment (adding customers that match the criteria and deleting those that no longer match):




This approach allows a relevant and balanced start on My Company North America. Each client is managed with a personalized approach and the number of actions to be managed by the collectors is consistent for a gradual ramp-up.

The two main start-up tools are of course the collection agenda and the aging balance, filtered on the « Very late customers » group to handle these priority cases because they have old receivables.

Start-up strategy with the risk agenda

My DSO Manager allows very precise monitoring of customer risk, with a lot of additional information available and up to date in the platform: external and internal scoring, legal events, credit limits, payment behaviors, guarantees, financial information, etc.

Combined with advanced features such as validation workflows, risk agenda, alerts, connectors, risk consolidation, etc., the customer risk management dimension, i.e. the preventive part of credit management, can take its place.

However, it is advisable to start gradually during the Go live so as not to drown users under too many actions.

To do this, it is advisable to prioritize actions on the most critical customers.

First step, configure risk management: outstanding vs. credit limit alerts, credit limit reviews, foreclosure alerts, internal scoring with credit rating and payer profiles.



Second step, identify risky customers via Search & Assign, which allows you to combine external and internal scores, and put them into perspective with the issues: outstanding, late payments.



Third step, carry out risk actions and monitor customers in the « Risky Customers » group as a priority by selecting this group in the risk agenda as in the risk report. Gradually expand the base of customers monitored until you manage the entire customer base. To do this, see our tutorial on using the risk agenda.

Let's combine the approaches. We have created two groups of clients: one for very late accounts, and another for risky accounts. However, the credit management team of My Company North America has among its members a person specialized in these high-stakes clients. We will therefore use Search & Assign so that its client portfolio is fed and updated daily by these client accounts that require special attention.

Conclusion

This is an example of a progressive, intelligent and automated start-up strategy. The use of all the data present in My DSO Manager, and of Search & Assign which applies your strategies by taking into account the reality and the evolution of your customer portfolio, allows you to combine user comfort and operational efficiency.

Our team of business experts is at your disposal to support you in implementing an approach adapted to your company.