Choosing the right credit management partner
You don’t entrust the keys to the castle to just anyone, and you don’t take old sandals to go around the world.
To be more explicit, before outsourcing you need to determine your needs and understand the solutions on offer.
See also: Why outsource accounts receivable management?
Determining needs: financial audit
The first step before outsourcing your accounts receivable is to carry out a thorough financial audit.
This audit is essential for :
- Assess the company’s financial health and specific needs.
- Assess customer risk and take stock of your cash position.
- Identify the (financial) areas where outsourcing can add the most value.
It’s a critical process, and one that should, if possible, be carried out by an expert using the right tools.
A poor audit of your finances will inevitably lead to problems in diagnosis, and therefore in the solutions implemented.
Adapting the solution to the company’s needs
Every SME has its own particularities, and it’s vital that the solution you choose is adapted to your structure and needs.
Before choosing a provider, always check that it offers :
- Customized plans based on billing volume and company structure.
- The ability to integrate their system into your existing processes without friction.
- A scalable service model that can adapt to periods of growth and economic change.
Ensuring the reliability of the service provider
Let’s return to our original metaphor: you can’t travel the world with the wrong tools.
Your service provider is a strong point of your actions.
He’ll be the new contact for your customers when it comes to reminders, the one who warns you of risks, etc.
To ensure the success of your project, you’ll need to do a bit of research:
- software used,
- financial stability, insurance and guarantees,
- its presence in professional associations and certifications,
- its background, its history, those of its managers,
- references, opinions and testimonials.
All these elements will help you to form a good opinion of your future partner.
DEBTEO as a strategic ally
The services offered by the DEBTEO accounts receivable management solution give you all the scope you need to meet your requirements.
Our solution meets the needs of all structures, whatever their size, thanks in particular to :
- the proven expertise of KREANCIA (ex-SSPCollect) in debt collection and credit management.
- an innovative approach to suit all portfolios.
- market recognition and confidence.
By taking these factors into account when making decisions, a company can not only optimize its receivables management, but also establish a long-term strategic partnership that will support its growth and financial stability.
Choosing the right credit management partner is not a decision to be taken lightly.
It requires reflection, analysis and, above all, a perfect understanding of your own needs and objectives.
With a successful synergy, the benefits will soon become apparent, in the form of visible financial health and renewed serenity for management. Image by Gerd Altmann from Pixabay