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.
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 […]
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.
How can you speed up the accounts receivable process, while also reducing errors and improving cash flow? Read our four top tips.
Blockchain – De technologie die onze financiële wereld op zijn kop zet? Of toch niet? Lees de cijfers en resultaten in onderstaande infografic gebasseerd op de Onguard FinTech Barometer 2018.
Dutch companies are among the fastest payers in the world. Dutch companies pay invoices within 46 days. Good news! But is this really something to be happy about?
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?
Let’s face it: tracking customer details and interactions is just too much for a spreadsheet to cope with – no matter how good you are at setting them up. With so much that can go wrong with a spreadsheet, businesses need to understand that there are better alternatives
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.
Late payments are a problem for businesses of all shapes and sizes. Here are five steps you can take in order to help you streamline your payment collection processes and improve your business.
When it comes to credit management, one thing you always need to remember is that cash is king. Sure, you need to build strong customer relationships and make sure that you’re providing great products and services – but in the end, if your business isn’t getting paid, the results could be disastrous.