Accounts receivable (AR) is one of the most vital aspects of a business. Not only does AR deal with customers directly, it has the critical responsibility of keeping company cash flow positive — i.e., turning money owed into money in the bank. Today, winning the billing and collections battle demands a holistic approach to the challenges that have long kept AR departments from realizing their full potential. Check out this Slideshare and get the full ebook (linked below) to learn how you can empower your company and customers with AR Automation. http://quitpaper.esker.com/white-paper-customer-centric-approach-collections-social.html

1. 8 steps to a
CUSTOMER-CENTRIC
approach to collections

2. 1
Build a cohesive team.

3. 1
Build a cohesive team.
This should consist of your collections employees, but
also people in the other parts of your AR operation, as
well as Sales and other departments that touch
the customer experience. Your team should
also include any of your service
providers and the solutions they
supply that allow your organization to
be more customer-centric.

4. 2
Set up your team for success.

5. 2
Set up your team for success.
Employees who are overburdened
and operating in an atmosphere
of disorganization and clutter
will not be in the best possible
frame of mind to offer top-notch
customer experiences. Help
them help you. Give them the
tools they need to succeed,
including procedures, training and
technology that allow them to spend more
time helping customers and less time on manual, outdated tasks.

6. Work with a shared set of
goals and expectations.

7. Work with a shared set of
goals and expectations.
Different AR teams have different policies that
work best for their organizations. What
works best for yours? Ensure your
team members buy into the policies
by including them in establishing
the way your customer
experience procedures function.
That way everyone shares the
same expectations.

8. 4
Hold individuals accountable.

9. 4
Hold individuals accountable.
Your team is only as great as your
weakest link when it comes to the
customer experience. You and
members of your team have to hold
each other accountable for upholding
your shared goals and expectations.
Make sure your message is not just
rhetoric but very real.

10. 5
Measure your performance.

11. 5
Measure your performance.
Use reporting tools to determine how
your team is doing in serving
customers, and discuss these to
correct course when necessary. For
example, rather than just telling team
members to respond to customers in a
timely manner, actually measure
response time. This way you can continue
enhancing the overall customer experience.

12. 6
Don't treat all customers
the same.

13. 6
Don't treat all customers
the same.
Exceptional customer service is not “one size fits all.” Once your
team understands this concept, you can begin to enhance the
customer experience in ways tailored to meet
each customer’s needs and wants.
For instance, in AR, many customers
prefer a self-service option such as a
supplier portal to check the status of
invoices or fill out a form to make an
inquiry. Others prefer the personal
contact of a live voice when they’re
asking a question outside the scope
of a receivables solution.

14. 7
Don't treat all issues the same.

15. 7
Don't treat all issues the same.
Anyone who has ever handled the
customer experience knows there
are two types of people who call:
those with questions that could
have been answered with some
quick online research (or through
a self-service portal if you had one),
and those who have issues that
require more work to resolve. Everyone
should be treated with the same courtesy,
but your team should accept that not all issues will fit into a
neat box. Give your team members the latitude to become
problem-solvers and troubleshooters, and you’ll see them
enjoy serving customers even more.

16. Listen to your customers.

17. Listen to your customers.
They’ll tell you how they want to be
served. Remember, people who
approach your organization with a
complaint and feel you’ve actually
l listened to them and helped them
resolve the issue will become your
biggest cheerleaders. Provide ways
for them to give you the feedback you
need.

18. Don't stop here!
Download IOFM's full white paper now!
8 Steps to a Customer-Centric
Approach to Collections
Or simply copy and paste this
URL into your browser:
http://quitpaper.esker.com/white-paper-customer-centric-approach-collections-social.html