As the last year has shown, financial forecasting can be subject to unforeseen changes in circumstances that require a different strategy with little notice. This is where agility in financial forecasting is vital to ensure that businesses have the necessary resilience to prepare for the unexpected, and data is a crucial piece of the planning puzzle. With this in mind, how best can organisations plan ahead with their finances?
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.
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.
In instalment four of our Q&A series, Debbie Staat, Manager Customer Success & Support, discusses how businesses can embrace the future of credit management technology – leaving legacy systems behind and investing in new software to help streamline processes and payments.
In this blog we take a look at how businesses can implement risk-reducing measures to boost the likelihood of timely payments during turbulent economic times.
In recent years, more and more businesses have begun to adopt cloud software. In this post, we look at the benefits of implementing cloud-based solutions and how their use can help businesses add value.
It is important to know how to create a successful business case to justify the expense of new software and ensure it delivers true value to an organisation. Carl Lancaster, Head of credit management at Peninsula, shares his experience with implementing Visma | Onguard’s CreditManager and the importance of a clear and organised business case.
Order-to-cash (OTC) is a complicated process, and to do it successfully, you’re going to need a lot of different tools at your disposal. ERP in conjunction with credit management software improves cash flow.
How can you speed up the accounts receivable process, while also reducing errors and improving cash flow? Read our four top tips.
Companies that have adopted advanced cash allocation systems utilizing AI, RPA and machine learning techniques can complete the daily cash allocation task within minutes or hours rather than days and sometimes weeks. This enables their allocation agents to start the day with a collections book that does not contain scheduled calls to chase overdue debt that has already been paid.
In the second installment of our new Q&A series, Cor Makkinje, Manager Professional Services, talks tactics on strengthening customer relationships to boost trust and increase retention through challenging times.
The need to adapt to new technologies such as automation and artificial intelligence (AI) has taken on a new significance, along with a renewed focus on solution-driven technology. But exactly how crucial will these new technologies be in 2021? Onguard predicts the year ahead.
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.
Dunning, also known as collection management, is a vital process in credit control an allows businesses to be better prepared to overcome challenges.
As a finance professional your day can quickly disappear thanks to common issues and repetitive manual tasks, such as cash allocation. Leveraging technology to solve these as quickly and efficiently as possible allows you to engage in more challenging tasks. In order to set up the order-to-cash process effectively to achieve this, it is important that you follow some key steps. This infographic will help identify how you can shift focus onto maintaining strong customer relationships and ensuring the financial stability of your organisation.
How to use CreditManager alongside your existing ERP software to ensure efficient and accurate data exchange. Enrich your data with CreditManager.
Increasing productivity is not about working harder, but rather about working smarter. How do you increase employee productivity in credit management?
Leniency measures? With these practical tips, you can keep the number of days that invoices are open low, even in times of crisis.
With remote working set to continue for many finance departments, how can digital tools help bring remote teams together and ensure team efficiency during this period? Read the blog for more insights.
Even with the influx of new technologies flooding financial industries, the finance professional’s role is indispensible, especially in times of crisis. Read the blog for more information.
An Enterprise Resource Planning (ERP) system is a powerful tool for credit management and most companies, of all sizes, are now implementing ERP, according to a recent report. However, whilst an ERP system has many benefits, the majority of these systems are less innovative and flexible than specialist software. They also don’t offer the same level of personalisation and functionality. As a result, during these uncertain times, in particular, using an ERP on its own can put credit managers at a disadvantage.
In the first of our new Q&A series, Raymon van Viegen, CFO, Onguard, answers a query around how to gain better visibility of accounts in uncertain times.
Covid-19 has forced the world to adapt to a new normal. For finance teams this means shifting some of their focus from long-term growth to chasing payments that were put on hold earlier in the pandemic.
Much of 2020 has seen businesses turning to digital transformation to ensure business continuity through the pandemic. With the current lack of certainty, finance teams must now focus on future-proofing their credit management. Having always been a key component, good credit management is now critical to business survival in these uncertain times. This must start with the right data.
Know your DSO, especially in these ‘new normal’ times where your cash conversion cycle could mean the difference between survive or thrive for your business. Read our blog and find out how to track and utilise your DSO to your business advantage.