Efficient and effective debtor management is very important, but often takes a lot of time. Moreover, nothing is more annoying than a customer who does not pay an invoice (on time).
Successful companies secure their cash flow with the help of cash collection software. This is essential to reduce your unpaid invoices and improve your company’s order to cash business process. Choosing the best cash collection software can deliver rapid improvements to your cash flow and liquidity, your DSO and the efficiency of your credit management team.
Why it is important to use cash collection software
Poor liquidity can jeopardise a company’s survival. A large part of the bankruptcies are caused by poor credit management. This then makes good credit collection management a very important part of an organisation.
You can use cash collection software to reduce the amount of unpaid invoices and create a more effective and efficient cash collection process. By automating administrative tasks you can save up to 80% of your valuable time. In addition, by consistently reminding your customers of the outstanding invoices you will improve their payment behaviour. This makes getting your invoices paid much quicker and easier.
Types of cash collection systems
The most complete debtor management software
Automate the follow up
Communicate consistently with your customers
Offer multiple payment methods
Advantages of using Payt
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Curious to learn more about how Payt can help improve your credit management? Download our brochure.