Personalised communication modules make things easier for customers
Companies are increasingly realising that high customer satisfaction contributes to success. The customer journey is the interaction between customer and organisation from the first point of contact to the purchase of a product or service. Companies are also recognising the importance of a smooth and efficient journey. Successful and efficient personalised communication begins with approaching the customer in the right way and identifying the customer’s needs and requirements. However, how is this applicable to credit management? How can the last step in the order-to-cash process transform into more than simply issuing a traditional, impersonal invoice?
Multichannel communication modules
First, there are some questions you need to ask; how does the organisation know the debtor? Is the debtor actually a debtor or is he/she treated as a customer? A debtor is simply a customer from whom an amount is due. It is important that this customer is satisfied, and every contact moment offers an ideal opportunity to make sure that he/she is satisfied. This is why Onguard and its partner Alphacomm have developed a number of communication modules. They ensure that communication within the organisation is smooth during the last step in the order-to-cash process – irrespective of whether the communication relates to a hardcopy invoice with a QR code, an SMS with an iDeal payment link or a digital invoice. The customer decides how they receive their invoices.
Offering this choice is important, as experience has revealed that many of those confronted with payment arrears don’t know how to proceed. The available standard solutions are occasionally confusing and not customer friendly. Recipients sometimes panic and are unable to effectively handle the invoice. Insurance premiums, for example, can remain unpaid and thus payment reminders begin to pile up. A personalised video or voice message that calmly and clearly explains the precise situation can offer a solution. These are all customer-friendly, highly-secure communication modules that help speed up payments and improve the cash flow.
The driving force behind every organisation is continual, sustainable solutions. The cooperation between Onguard and Alphacomm yields a wide range of up-to-date technical tools. Customers can hook up quickly to the jointly developed platform, without losing valuable time on sales, marketing or IT implementation. This cooperation pivots around worry-free use of state-of-the-art credit management techniques and just one contact point. Organisations can once more focus on their customers, who often wish to personalise their individual arrangements for their business or finances.
Young people are more likely to respond faster to an SMS payment reminder. In contrast, older persons might prefer a reminder in the form of a letter with an accompanying explanation. When developing the various communication modules, it was important to consider the growing demand for self-service. Customers have multiple options. They can scan the QR code on an invoice or payment reminder or watch the video outlining all available options. They can then decide which option they prefer to use to settle the payment arrears as quickly as possible.
Improved customer satisfaction
In Alphacomm’s experience, more than 90 per cent of the organisations using the available personalised communication modules benefit from improved customer satisfaction. They state that payment reminders now result in at least 25% faster payment. Furthermore, an increasing number of customers are finding a solution which avoids extra costs or even more serious problems. Imagine you forget to pay an invoice and the insurance company suspends your car insurance as a result. You get behind the wheel without realising that you’re uninsured and then you’re confronted with the consequences.