Progressive companies are using best-of-breed credit, collections and customer query/dispute management automation software to increase cashflow, an important financial goal in today’s credit challenged commercial banking market.
Effective use of Automated Collection and Dispute Management solutions supports significant reductions in AR by collecting cash more effectively while enhancing service levels through better communication and faster resolution of customer issues.
Credit controllers and dispute managers are using a marketing leading tool from the Customer Value Group, CVG Value+ for their everyday activities. It supports them by segment-specific collection strategies configured in CVG Value+’s workflow engine to create automated actions such as diary events, reminder letters and statements. The reporting dashboard provides consolidated information across customer segments, collection teams and business units.
CVG clients achieve:
Direct translation of business needs into operational processes meaning that:
- Manual workarounds are eliminated.
- Each collection and dispute management task must lead to a business outcome - such as a promise to pay, cash collected or a resolved dispute – with no black holes.
Enhanced visibility at management and operational levels:
- Puts the emphasis back on cashflow.
- Provides granular performance management.
- Ensures the tracking of both internal and external SLAs.
Effectiveness and efficiency are enhanced as:
- Users find the software-facilitated processes lead to greater motivation.
- Communication is improved through automated messaging in escalation and resolution paths.
- Work is undertaken to pre-defined service levels.
Improved flexibility gives the ability to:
- Adapt processes based on the success of previous policies.
- Adapt the collection and dispute policies to achieve company goals.
CVG specializes in the management of best practice credit collections and customer service. In the last two years CVG has conducted extensive research into the relationship between collections and customer service and found a clear link as shown in the diagram below:
The Advanced Capture Team was chosen as the leading Systems Integration firm by The Customer Value Group to resell and implement their global application in the North American Market. Please contact Advanced Capture today if you are looking to improve your customer relationships and, increase cashflow, and reduce your DSO. |
