TK Elevator is a leading global player in the elevator and escalator market, with customers in over 100 countries. TK Elevator Italy needed a solution to gain visibility of its credit management operations and enable colleagues to work from the same centralised platform. Having predominantly used Excel spreadsheets in the credit control team previously, the business needed a tool to track payments and understand customer priorities more easily, overall saving valuable time for its employees.
From Excel to a centralised platform
Impressed by the straightforward and quick response from Onguard after initially making contact, TK Elevator Italy opted for its CreditManager solution and went from Excel to a centralised platform which has given numerous benefits to its operations.
CreditManager is a cloud solution for credit management that automates processes, offering a suite of tools to enable the effective, efficient and secure execution of a credit management strategy. It enables the sharing of data in real-time, enabling finance professionals to manage risks and reduce DSO by 20%.
“One of the first priorities for us was improving the collection process for the thousands of customers we have on our books. Although we have made some improvements to our systems recently, they weren't serving as a proper collection tool, forcing us to handle many Excel files.” - Michele Brusa, Credit Manager
TK Elevator Italy has witnessed numerous benefits since 2020:
- The credit control team can work from a system with defined policies that can be run by every user
- The team can maintain closer contact with their customers and order
accounts in terms of priority, helping the credit control professionals plan
their working day
- Each user can access key resources and data quickly and efficiently with an individual login to the platform
- The centralised nature of the platform means the team can remain
productive and work collaboratively from any location
- The team can now contact every customer on a monthly basis if necessary, while also being able to receive feedback much faster.
Although TK Elevator Italy is currently utilising key functions in CreditManager, the organisation continues to work closely with Onguard to leverage more of the solution’s features and benefit from wider reporting capabilities. The organisation is also planning to integrate a certified email solution, a mandatory requirement in Italy, with its CreditManager deployment in future.
Tiziano Braghieri, Credit Analyst: “Following the successful implementation of CreditManager, we’ve regularly stayed in touch with Onguard to help us make some minor refinements in areas such as reporting and changing details on our communication materials such as the letterheads due to our recent change in company name. They’re always happy to help, no matter how small the request.”
“While our main focus originally was improving operational performance in our credit management processes, we’re excited about the other areas of our business that we can explore with Onguard in future. We feel that our work together so far has certainly provided the spark to develop an even stronger collaboration in future, and we’re grateful for Onguard’s ongoing support and consultancy.” concludes Brusa.