Great work needs great tools
No matter what you do, or where you work, there’s something to be said for taking pride in a job well done. Helping your clients, getting praise from your boss or seeing your own performance improve are all little things that can make any job seem a better – and can help ensure there’s a smile on your face when you leave the office.
But if you want to do your job well, you’re going to need the right tools – tools that help you do your job quickly and to a high standard. For example, if you’re redecorating a room in your home, you wouldn’t use an artist’s small detail brush to cover a wall in a fresh coat of paint. That would be slow and tedious, and you probably wouldn’t get an even coat of colour on the surface. Instead, you’d use a paint roller or a broad brush that allows you to cover a large area with a few smooth, sweeping strokes.
The same rule applies for those of us working in order to cash. Except, instead of paintbrushes, we need to look at the software we’re using.
The wrong tools
When it comes to choosing the software you use in credit management, it’s good to remember that there aren’t really many “bad” tools. But there are lots of “wrong” tools. For example, Microsoft Excel sometimes gets a bad rap. But it’s not that the software is bad. Excel is actually a powerful spreadsheet program that allows users to do a lot with raw data. The problem with Microsoft Excel is that it’s often the wrong tool for the job you’re trying to do.
You see, spreadsheets are designed for number crunching. Not storing masses of detailed information about customers – their contact details, sales records, payment history and outstanding balances.
Using Excel for tracking credit management is pushing the software beyond its capabilities. Sure, it’s convenient, and it might even work for a little while. But it won’t take long for your spreadsheet to get too complicated, and this can lead to it being slow, and you’re likely to start finding errors in data and functions.
The problem of “Excel abuse” is something that has plagued companies of all shapes and sizes – and the results can be disastrous for your organisation. We’ve heard stories ranging from giving clients incorrect information and publishing inaccurate financials, through to cash flow mismanagement that cost companies dearly.
So, what’s a great tool?
The best tool for any task is one that gets the work done quickly and efficiently – and in the case of order to cash, this is likely to mean specialist credit management software like Onguard. This software has been designed specifically with credit professionals in mind. It integrates easily with existing ERM systems and provides a variety of tools for streamlining your workflow.
With Onguard’s credit management solution, you can automate many everyday tasks like data entry, processing payments, and correspondence. The software has been designed to provide users with the information they need when they need it and it makes it easy to share data across business functions. What’s more, Onguard allows you to save time on repetitive tasks, giving you the chance to focus on customer service and building long-term relationships. In short, it’s a great tool to help you do your job well.
Find out more
Here at Onguard, we understand the importance of creating great customer experiences throughout the order to cash process. To find out more about how our software can help you build stronger relationships, while also reducing DSO and boosting cash flow, download the ultimate guide of credit management software.