Credit control is a vital part of customer account management that helps companies avoid bad debts and optimise their cash flow. However, as a business grows its customer-base, managing invoices and overdue accounts inevitably becomes more time-consuming and complex, which can quickly end up being costly when a business wants to spend their time on generating sales.
Without a quick and easy method of identifying overdue accounts and sending out credit control letters, businesses can see massive amounts of time being wasted. This can have real cost impacts too, as the longer it takes to get reminders out to customers overdue with their payments, the longer it may take for these payments to be received. Therefore, it is important for cash flow maintenance that companies have a quick and accurate method of sending credit control letters to all their overdue customers.
With OrderWise Accounts, businesses already have the multiple features to accurately control customer credit limits, keep track of customers who have aged and overdue balances, as well as the tools to output credit control letters in order to help chase debt. This suite of functionality also includes the Transactions By Period grid which offers a complete breakdown of a selected customer’s transactions by individual ageing periods.
Automated Generation Of Credit Control Letters
Now in version 18.5 of OrderWise, businesses are presented with an exciting new feature to generate credit control letters via a scheduled service, drastically reducing the time needed for overdue account management, and freeing up time which can be spent on other priorities.
New settings will allow users to automatically distribute credit control letters to a predetermined set of customers at the desired time/date using the required output method of e-mail or post.
Thanks to this new addition, OrderWise users are able to efficiently keeping on top of their late paying customers and save time through automated and streamlined management of overdue accounts.
For more information on OrderWise Accounts, you can visit our dedicated page HERE.
To discuss your requirements in more detail contact us today on 01522 704083.