How to cash in after Covid-19 emergency? SpeedUp can help you!post-author - Wed 22 Jul 2020 - covid-19 , credit management
The health emergency determined by Covid-19 epidemic has represented a serious problem and has put companies facing some challenges.
Only those who were able to re-organize, to choose the right strategies and to change the way of working will face next months easily and quietly.
Companies should focus on one specific activity: an effective and efficient credit management. Most of failures derives from a bad credit management, therefore companies should invest resources in credit management to obtain long-term advantages, avoiding the risk of liquidity crisis.
Credit office should organize to improve collection activities, as workload will probably be increased. A part of workload will be assigned to salesforce, that should be sensitized on the importance of clients' evaluation from the very beginning. Another part of workload will be in charge of credit collection companies, that will intervene in extrajudicial phase.
Due to an increase in unpaid it will become fundamental to adopt an industrial approach to credit management. An automated management can help credit office to manage all steps of Credit Management process in an effective and efficient way.
In this period companies should provide software tools that could help them collect better, easily, and quickly.
Our software SpeedUp is designed to help Credit Managers and collectors have under control all collection activities thanks to a single platform in which they can visualize: due invoices, unpaid, dunning letters, claims, credit limit approval, ect..
An automated management allows to obtain advantages and benefits (not achievable with an artisan approach) such as: decrease of cash-in timing, DSO improvement, increase of business liquidity.
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