Payt turned out to be exactly what INDI was looking for
“Payt contributes significantly to our customer satisfaction," said Sybrand Brouwer, director and owner of INDI. “Because we use Payt, our customers experience ease of payment, they can quickly and easily make contact about outstanding invoices and know exactly what they can expect from INDI." The director of the e-commerce company is convinced that an accurate accounts receivable process with clear reporting is an essential part of the customer experience.
Quick and efficient
Payt’s services fit in well with INDI’s business operations. This webshop in technical components is aimed at professionals. The company, which started just four years ago, sends more than 80,000 invoices annually. “That number is growing every month," says Sybrand. The launch of the platform turned out to be a golden hold; there was a great need in the market for a fast supplier of technical components. They operate in a fairly traditional sector, where wholesalers have normal opening times, have branches all over the country and send representatives on the road to inform customers about their products. At INDI they have completely abandoned this. Although they have a highly skilled customer service team, customers service themselves through our webshop. That means that they can go many times faster and more efficiently. All orders that our customers order before 6 PM can be delivered the next day before 8 AM. The e-commerce business of INDI meets an important need. Service technicians, for example, are busy visiting customers during the day. At the end of the day they can order the supplies for the next day quickly and easily via INDI. At night, their order is delivered to a location of preference. Some companies do have several different delivery locations. “We even deliver in service buses!”
Automate debtor process
Because INDI has made the ordering and delivery process very accessible, it happens that they receive multiple orders per week or even per day from the same customer.
“When we developed the INDI platform, we wanted to digitise the entire process, from order to invoicing. We found out that our financial package did not provide enough here with regard to credit management," says Sybrand.
The director did not feel like taking a step back and manually managing their debtors. With such large volumes, this was, after all, a time-consuming and labor-intensive activity. We considered developing something ourselves that we could use to automate our debtor process until we came into contact with Payt.
“Payt turned out to be exactly what we were looking for."
The e-commerce platform has its financial package, Exact, linked to Payt. Invoices are automatically loaded in Payt. When a customer has not paid his invoice after the expiration date, reminders are sent automatically. “Although we are growing fast, we can still manage with the same number of people in our credit management. On average, we spend around 50 to 60 hours a week on our credit management.”
Virtually no collection processes
The person within INDI who is responsible for credit management is Geertje Boomsma. As a debtor manager, she mainly works with Payt. She explains: “At INDI we use different payment terms, but the most common is 30 days. If the customer does not pay, we will send a first reminder two days after the due date and the second one after 18 days. 34 days after the expiration date we will send a third and final reminder. In that correspondence we warn the customer about a collection process.” INDI also carries out this collection process via Payt. “Yet it seldom happens that we start such a process," says Geertje. “On average about 20 times a year. That is really very little if you send more than 80,000 invoices a year."
According to Boomsma, the structured and accurate debtor process is the reason for this low number of collection processes.
“In addition to being very accurate in sending reminders, debtors can easily pay their invoices via the online payment platform. This increases the ease of payment, because you no longer burden the customer with invoice and IBAN numbers. If customers do not pay, they usually have a reason for it. Via Payt you can easily get in touch with them and start a conversation about it.”
They are also happy with Payt at INDI’s customer service. Geertje says: Thanks to Payt, my colleagues can find out why an order is stagnating. This is usually because invoices have been open for too long. If they have lost an invoice, the customer can easily retrieve his copy of the invoice via Payt. Because the customer himself also has insight into the file, it not only makes talking a lot easier, but customer service can also answer many questions.
Happy with Payt
Brouwer also sees that the process has become much more transparent and that his customers pay better through Payt.
“Clarity and consistency ensure better payment behavior and higher customer satisfaction. I am convinced that the ease with which customers can gain insight into their invoice status contributes to the overall picture of INDI.” Although Payt is a software company, it does not feel that way for Brouwer. “The way in which the Payt team deals with our wishes and expectations is very flexible and fast. Both during implementation and afterwards; when we have questions or comments, they immediately anticipate and always see what is possible.”