What trends are expected to have the greatest impact on the order-to-cash (O2C) process? And what kind of impact will they have? Onguard explains their answers in this infographic.
Credit management evolves and grows as new technologies and innovation become available. Thanks to advances in technology, new trends are emerging on the credit management scene. Looking to the year ahead, we foresee three trends having a major impact on the world of credit management.
Stay relevant to your customers. Embrace digitisation within your credit management. Keep your costs down and ensure happy customers.
It is easy to underestimate the value of data you have on customers. But in fact, it is the best way of building up a solid profile of your customers that can have a major impact on credit management.
For truly successful credit management, you must implement the right technology, processes and policies. So, how do you ensure you get the most from credit management software and processes? We’ve highlighted some key areas to get you started.
Order to Cash: it sounds like such a simple thing doesn’t it? An order comes in, and then a little while later some cash follows it. If only it were that easy! In fact, order to cash (O2C) is a complicated process that requires a lot of work to get it to flow smoothly – and one important part is customer relationships.
How do insurance companies make sure they get their invoices paid and keep their customer satisfied and on-board. Onguard gives you three business hacks to implement.
Combine large sets of (un)structured data from different sources, and use this as a basis for informed decisions, and also to predict customer and debtor behaviour. Onguard looking back add the last Academy with Altares Dun & Bradstreet.
The order-to-cash process starts with the customer placing an order and concludes with the payment of the invoice. Onguard gives you a simple overview of the steps in the order-to-cash process.
What does the market look like in 6 years? What developments need to be factored in? And how do we ensure that our company keeps adding value? What will the world of finance and IT look like in 2025? Our CEO Bert van der Zwan tells you more.
Decision-making in finance is impacted by big data. This infographic gives you insights from more than 1,000 finance professionals in what big data is, how it figures in organisations, its influence, its potential and the pitfalls.
Finance professionals can benefit from big data. Data is the oil of the 21st century and forms the basis for fact-based decision making. Read why you should embrace big data.
Big data in finance has an enormous potential. What are the benefits ? And, more importantly, how can they be harnessed by finance professionals? Read in our blog.
It is essential to pay attention to a customer after they have placed an order and before payment is made. Often this is seen as a negative action, however it is really an opportunity to convey a sense of warmth to customers. Show what you stand for as an organisation and transform this experience into a positive one.
Data: we have a lot of it, we gather more of it every day and we look for ways to get even more. But what are you actually doing with it to ensure you optimize your order to cash process?
Email is fantastic for invoicing and payment. Electronic invoices can save you lots of time and money, and invoices will be with your customers almost immediately and might be paid faster.
That means to get the most of your emails, you need to be as persuasive as possible. How do you do that? Here are our suggestions.
Monitoring payments and invoices and reporting on them is crucial in credit management. With our software tool CreditManager, you are able to automate monitoring and reporting. Read about some of the key benefits and features.
Use innovation such as artificial intelligence and robotics, and smart partnering to really focus on customer-centric instead of company-centric
Make sure your invoice gets paid. Use technologies around finance and payments and above all keep communicating with customers and in turn help restore the consumers faith in this uncertain economy.
What can businesses, and particularly the credit management department, do to keep credit risks to an absolute minimum.
Bert van der Zwan, CEO of Onguard, and Remco Beuvens, CDO of Aon, talk about this in their blog.
AI, robotics (RPA) and blockchain technology are set to impact the credit management field. Not only changing the day to day processes but also the role of credit managers and the future of the industry.
A complaint handling procedure as part of your dunning strategy is essential. The quicker a complaint is picked up and resolved, the happier the customer becomes, resulting in a faster-paid invoice.
A major revolution seems to be taking place within the world of finance. New technology in the form of Robotic Process Automation (RPA) and Artificial intelligence is being introduced and is likely to transform the future of finance. Onguard’s FinTech Barometer 2018 collected data based on the interviews of over 1000 finance professional.
Personalised communication modules ensure that the communication within the organisation is also smooth during the last steps in the Order to Cash process. Each contact moment is an opportunity to satisfy customers.
A world without platforms has become unthinkable. All the correct information available in one system without switching between applications. Read about the pros and cons of using B2B platforms.