Outsourcing your receivables management to boost your business
Companies outsource primarily to cut costs. But today, it is not only about cutting costs but also about reaping the benefits of strategic outsourcing such as accessing skilled expertise, reducing overhead, flexible staffing, and increasing efficiency, reducing turnaround time and eventually generating more profit. When it comes to receivables management and its implications on an international scale, you are facing multiple practices requiring a vast range of skills such as:
- Customer identification and risk assessment;
- Credit insurance management and credit limit decisions;
- Decisions on terms and method of payment;
- Handling of orders;
- Recovery processes;
- Customer service and complaints management;
- Payment allocation and transfers of receivable to suppliers bank accounts;
- Legal and pre-legal claims management;
- Problems identification and problem solving.
Benefits of outsourcing with Webhelp Payment Services
Webhelp Payment Services partners and clients have experienced numerous benefits from our outsourcing solutions. Some of them are:
- Access to skilled and highly trained expertise;
- Increased in-house efficiency;
- Increased the quality of your client portfolio;
- Increased customer satisfaction;
- Reduced internal costs;
- Increased turnover;
- A drastic optimization of the DSO (Daily Standard Outstanding);
- Strengthen business relationship with the customers due to the decreased number of disputes.
Impact on your organization
Companies are increasingly sensitive to the strategic aspect of their cash flow situation, and therefore to the management of their debts.
In today’s world “cash is king”. The cash flow is a key component for a successful business. A functional debt recovery procedure is now a top priority of many officers.
- What level of risk am I prepared to accept?
- What payment terms am I able to arrange for my customers?
- What attitude do I need to assume when payment problems arise?
This is directly linked to changes put in place within many innovative businesses, to adapt to the new commercial context:
- Focusing on the core activity;
- Streamlining costs;
- Profiting from the experience and unique skills of a partner;
- Growing your flexibility;
- Focusing management and investments on strategic functions;
- Simplifying non-strategic processes.
The positive impacts on business organizations include:
- Immediate access to the most advanced processes and tools;
- A variable cost model;
- Improved cash flow situation;
- A better image of your professional presence in the international markets.
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