Keeping customers is easier and less expensive than replacing them. Companies need to focus on the total customer experience to ensure strong customer relationships.
The customer experience includes:
- Onboarding – Setting up customers in your company’s systems so that transactions flow smoothly.
- Easy to do business with – Making it easy for customers to transact business quickly and efficiently.
- Points of contact – Every department that is a point of contact in customer transactions needs to have a customer service focus to enhance the customer experience.
Points of contact include administrative functions involved in customer transactions. AR is part of the customer experience. Trouble-free transactions can be spoiled by problems in your AR process.
Enhance Your AR Process
Your AR processes should be enhanced for a good customer experience. Provide a self-service customer portal to facilitate transactions through your AR process which includes:
- Customer onboarding
- Customer profile management
- Direct communication
- Electronic payments
- Reporting disputes
- Accessing account information
In the new normal, customers want the ability to self-manage their accounts from any location at any time. A self-service customer portal can enhance your AR processes and optimize your customer experience.
The Need for Customer Service in AR
The need for customer service doesn’t stop when a sale is made. It needs to be part of the entire transaction cycle and operating philosophy of your company. Customer service is part of the culture at companies that optimize their customer experience.
AR needs to be an extension of the customer service philosophy and part of the success team. The customer experience is not fulfilled until a transaction is complete and data is updated. Credit approvals, collection, payment application, dispute resolution, profile management and credit updates are all customer points of contact and impact the customer experience.
AR processes touch the customer on a continuing basis. They are an important part of the customer experience and can help to build a strong relationship.
Accounts receivable and accounts payable cloud-based solutions with customer/vendor portals and digital processes keep vendors and customers connected whether they work remotely or not.
With a connected accounting solution for your accounts receivable and accounts payable teams to coordinate work with customers and vendors, you can go digital and enjoy the benefits of office automation.
Lockstep, a leader in cloud-based connected accounting solutions, can help you boost productivity and optimize cash flow with:
- Digital Onboarding – Collect master data directly from your customers and vendors
- Accounting Inbox – Make it easy to divvy up work and track progress
- Smart Automation – Automate menial task with accounting integration
- Online Accounts – Give customers and vendors online access to their accounts
Lockstep is an experienced software partner that can help you increase efficiency and accelerate cash flow.
If you would like to learn more about how you can benefit from connected accounting solutions, please contact Lockstep at www.lockstep.io