Do your collectors seek your advice and welcome your insights? If not, it may be that you don’t have the collections automation tools needed to have a clear view of their activities and success rates. Without this collections information it is difficult to mentor your collectors and encourage best practices to improve performance.
Collections automation with activity management can help you be the accounting leader and mentor your team needs to achieve AR goals. Activity management tools provide a clear view of collector activities and performance to give you the insights to lead and mentor your team. They also prioritize collections management and help to keep your team on focus to increase collections.
With collections activity management you and your team have the tools to identify and prioritize activities to maximize collections and increase cash flow. Time is not wasted trying to prioritize collections. Your team stays focused and on task.
Activity management also gives you a clear view of your collectors’ activities and performance. You can use collections activity management tools to mentor your team and give advice on best practices to improve performance.
- One Application for Efficient Collections Management
Customer 360-degree view and communication tools give the information needed to manage credit and collection, and saves time switching between applications. Provide one solution that does it all, so your team can efficiently and effectively increase collections.
- Stay Focused on Priorities to Increase Collections
Work management automates assignments, priorities and escalations of activities according to your business rules. Your team stays focused and on task to achieve AR goals.
- Efficient Use of Time
Smart activities automate pre-collection preparation and post-collection activities to maximize actual time on collections. Collectors spend more time contacting customers to increase collections and cash flow.
- Build Best Practices into Your System
Build best practices into your system by configuring menus, screens and activities. Built-in best practices can direct your collectors, and help them achieve KPI targets.
Collections automation with activity management features will give you the information needed to be a mentor and accounting leader to your team, and give advice on best practices to improve performance. It will also give your collectors 360-degree overview of accounts, and provide the prioritization of accounts they need to use their time efficiently to increase collections and accelerate cash flow.
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 Collect, a leader in cloud-based connected accounting solutions, can help you boost productivity and optimize cash flow with:
- Automated Communications
- Customer Self-service
- Collections Activity Management
- Reporting & Forecasting
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