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Soft Collection (Invoice Chasing), Inbound Credit Control & Financial Accounting (Sales Ledger Maintenance)

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

The Challenge

  • 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)

HCL’s Solution

  • 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

Value Delivered

  • 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%

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