Super streamlined credit management through automation at Voys
“Thanks to Payt, our credit management has been super streamlined. I am very happy with the software.”
Janneke van der Velde works at Voys ‘Court of Audit’; the finance department of one of the fastest growing companies in Groningen.
She is very pleased with the structured workflow that Payt has realised within her organisation. “If you send more than 10,000 invoices per month, you are only too happy to automate that process. It’s nice if you can leave something like that to a party that thinks along with you. The Payt team is on hand from the outset when we have questions or any other issues. Even if you do not have a full handle on the issue yourself, they will work patiently so it can be worked out together.”
Developing yourself or purchasing smartly
Voys is showing enormous growth and this increase continues for the telecom provider.
“Our customer base is growing each year. Before we started using Payt, we performed our credit management manually. That process was not going well in various places and we wanted to see how we could do this better." Voys was a real tech start-up at the time. “We thought it was quite normal to develop software ourselves for the problems we encountered. Fortunately, Payt had already invented the ‘credit management wheel’ for us."
Trust the software
The clientele of Voys consists of both large and small companies. With the latter group, consisting of self-employed people or start ups with a few employees, it sometimes happens that there is no money in the bank when Voys collects the telephone bill. “That can happen," says Janneke whitewashing. She thinks the nice thing about Payt is that in such a case the invoice does not stay for weeks, but that the software signals that the direct debit was not successful. If the customer does not realise that the payment has not been successful and the payment is still not made manually, after two days an email will automatically be sent via Payt to the relevant customer - all in our company branding. In that email there is a payment link, with which the customer can still pay the invoice. The nice thing is that if a customer uses the payment link, the debtor and invoice numbers are linked directly with the transfer. Therefore they have no after-work of it; our accounting program recognises the online payment immediately and records it under the correct data.
Automate debtor process
Payt works best if you just let the software do what it does best, Janneke believes. If the process is running, you no longer have to worry about it. You can manually stop or pause the process, but Voys only do this in exceptional cases. At the start of the collaboration, together with the people from Payt, they determined the process: after how many days the reminders should be sent and what exactly should be included in that correspondence. “At Voys we literally have our own ‘tone of voice’. It is nice that we can continue that style in administrative communication with our customers.”
Although the correspondence from Voys is always friendly and informal, the tone in the reminder process is becoming a bit more compelling. In the last reminder, they will clearly state that if the customer does not pay, they will start a collection process. We indicate: “Pay your invoice now, otherwise we will be forced to charge collection costs and that is a waste of money."
If an invoice is not settled, the debtor process automatically continues in Payt’s collection process module. That process complies with all legal requirements, which means that Voys can transfer the amicable collection file to a bailiff with the push of a button, if the customer has still not paid the invoice after the collection process.
“The fact that we start very few collection processes every year, indicates that Payt’s credit management just works," says Janneke.
In addition to the structured workflow, van der Velde is enthusiastic about the management reports that she can print via Payt. At Voys, they base many of their choices on data. The ability to print statistics helps them to consult with colleagues. “I can see at a glance what the status of our invoices is and tell what we are up against."
It should be clear that the credit management department of Voys is happy with the debtor software.
“With Payt you can talk to customers a lot more confidently. People can make mistakes, but the software makes no mistakes. If a customer claims that he has not received an invoice or reminder, we can check it immediately. Moreover, a customer always has access to his own file via the Payt customer portal. This way, we no longer have to spend hours tracking, writing and calling debtors and we can manage debtors in around 20 hours a week. Easy peasy lemon squeezy!"