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.
We wish you all the best for 2019!
CreditManager is our intelligent web-based complete solution for automation and managing your entire debt management. It gives you insight in and control over your process and contributes to a sustainable customer relationship.
MatchMaker offers you the possibility to automatically reconcile and process 80% or more of the payments that are received on a daily basis so you will save time and money. Martin de Heus shows you how you can benefit from MatchMaker.
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.
How to create the right dunning strategy for your organisation Dunning, also known as collection management, is a vital process in credit control. It sees organisations follow set processes to chase outstanding payments, increasing the chances of payment retrieval. Customers not responding to reminders or evading payments are just two challenges credit controllers face when […]
Successful connections within the platform economy People have always sought to connect with one another. In prehistoric times there was safety in numbers. Living together in communities made them stronger and significantly increased the chances of survival. However, prehistoric communities formed on a relatively small scale and human interaction was limited. Today’s interconnectedness has exponentially […]
Onguard’s MatchMaker is benefitting from the fast-growing adoption of automation technology that has cascaded throuhout the entire financial ecosystem. Onguard is committed to making investments in MatchMaker’s future, adding to its functionality and making it more useable and flexible.
Within the finance and accounting departments of many businesses and organisations throughout the world, reconciliation is one of the most time-consuming tasks of the day. It is viewed as an arduous task met with sighs and resistance. It is the never ending and ever-expanding work load which entails matching invoices with payments.
How Robotics and AI could instigate a revolution in the finance sector A major revolution seems to be taking place within the world of finance. The introduction of new technology in the form of Robotic Process Automation (RPA) and AI looks set to overhaul the way we work. Businesses have traditionally been limited to IT […]
The customer pays, so the customer decides Various Dutch media outlets revealed last month that, ‘SMEs wait longer for payments’. Research conducted in the Netherlands has shown that small and medium-sized businesses have to wait longer for their invoices to be paid than the previous year, with the days sales outstanding (DSO) rising by two […]
Credit scoring: why, how, what and its advantages If you’re new to credit scoring, you’re likely to have some questions. Here we answer all your questions and show exactly how credit scoring will benefit your business’ cashflow. As a collector, you come into contact with all kinds of customers. Some regularly pay their suppliers on […]
It is about time businesses realise that the entire organisation is responsible for ensuring customer engagement. Moreover, it is a company-wide responsibility that the customer journey is a positive experience. Subsequently, the same applies to the credit management department, an important intermediate station where organisations can truly make a difference.
It used to be that segmenting and profiling was purely exclusive to the marketing departments of the world. However, as technology has naturally grown and evolved, so has this perception. Anyone who still holds on to the belief that these tools are limited only to marketing departments is very much out of date with the latest methods of credit management.
Integration with Order2Cash
In a time when consumers can choose from a tremendous variety of products and services, organisations need to differentiate themselves. Responding quickly by means of digital platforms is a must. After all, the goal is to not only to sell to customers, but to retain them.
The relationship between a company and its customers goes far beyond just a signature on a quote. Of course it is important that products or services reach the customer, but a relationship is only really tested when a customer no longer pays the invoices. A good customer relationship and a personal approach can in that case be decisive. The credit manager needs more than an Excel spreadsheet with financial and invoicing data..
Confidence: the cornerstone of blockchain
Blockchain and smart contracts are capable of upending our entire economy and employment market. The technology is very promising, but a very important, perhaps essential aspect still lacks, namely, confidence. Confidence in blockchain technology giving opportunities in order to cash and credit management.
Onguard teamed up with employment agency Career Control and debt collection agency Flanderijn to organise an Onguard Academy on the subject of blockchain.
Inefficient processes cost much time and they can lead to inconvenient situations for the credit manager and organisation. Examples of this are dissatisfied clients, a high DSO and an unstable cash flow. These situations can be prevented instead of having to stick on a plaster after the event. .
What can you do to mitigate the risk of bad credit, and prevent time wastage through having to chase up payments? In this blog: some tips to avoid unpaid credit.