Customer and vendor satisfaction is more important than ever to your business in the new normal. To satisfy your customer and vendors you have to understand what they need. Their needs have changed, but they are no less demanding than before. Customers and vendors want:
- The ability to work remotely
- Flexibility to work any hours
- Self-service electronic payments
- The ability to obtain account information online
- Access to copies of invoices, statements and other documents
- Online messaging to cut down on phone calls and emails
- The capability to report disputes online
- Self-service profile management
- The ability to reach your team when they really need to speak with someone
In other words customers and vendors don’t want to take the time to speak with your AR and AP teams to service their accounts, but when they need to speak with someone, they want to be able to reach them without a hassle. The way to increase customer and vendor satisfaction with your teams is to automate your office processes and provide a self-service portal.
Automation will free up the time spent needlessly on manual, clerical tasks so that team members are available to service customers and vendors and strengthen relationships. Good relationships can be very helpful in facilitating solutions to problems and disputes and collecting past due accounts receivable.
Providing a self-service portal increases satisfaction with around-the-clock help for customers and vendors. They can access your portal from anywhere the internet is available for online payments, account information, copies of documents, profile management, reporting disputes and messaging.
Give your customers and vendors what they want – the ability to work wherever and whenever it suits their needs. They don’t want to be tied to your office hours or need to call your AR team to get answers or manage their accounts. Make your company easy to do business. It will increase satisfaction with your AR and AP teams.
Self-service is a natural extension of AR automation. It gives your customers ownership in the business process, and saves time and reduces costs for all concerned. Automation helps to increase profits, cash flow and shareholder value.
Lockstep Collect, a leader in cloud-based credit and collection platforms, can help you collect cash in 4 ways:
- Cloud-based solutions
- Automated customer communications
- Customer self-service
- Collections Activity Management
Lockstep Collect is an experienced software partner that can help you maximize your collections and cash flow in the new normal.
If you would like to learn more about how you can benefit from automated credit and collection solutions, please contact Lockstep Collect at www.lockstep.io.