Success Stories
Soft Collection (Invoice Chasing), Inbound Credit Control & Financial Accounting (Sales Ledger Maintenance)
Customer
With operations in the 7 countries across Europe and 1500 employees, our Client is one of the leading players of the home and office delivery water business in Europe
- Reduce the cost & Increase the coverage of outbound chasing
- Reduce Daily Sales Outstanding (DSO)
- Increase Service level & Productivity
- Reduce customer disputes and issues
- Reduce in-house cost of operations
- Clear Backlog in receipt posting
- Tidy Maintenance of sales ledger (matching & allocation)
- Validation and reconciliation of customer accounts (Post-merger)
- All the outstanding invoices were segregated based on the value and the period
- Customer Accounts with high value was given priority
- As part of the collection calls, agents were made to involve in the process of updating the customer profile in the system, which proved effective
- Before the close of every call, agents were made to explain about the client’s most preferred payment plan – direct debit. This was aimed at reducing the future collection efforts
- Daily sales outstanding was brought down to 52 days from 180 days
- Direct debit set-up per month increased by four folds
- Number of disputes reduced from 16000 to 8000 per month
- Credit card collections per month increased five folds
- Increase customer satisfaction, the complaints was brought down to lesser than 1%
- Total savings to the client by offshoring these processes - £ 400 K per annum
- Abandon rate was brought to lesser than 0.5% from 7%
