Our sales team’s CRM provides and orders the information on our customers to better prepare for visits. However, there are still systems that do not include information about each user’s payment collection and receivables, allowing for orders that widely exceed the nonpayment coverage and for a disconnection between the administrative and sales teams.
In order to fix this issue, there are sales tools that, like inaCátalog does, connect with the company’s ERP and retrieve data on debt collection in order to facilitate internal liquidation, customer payment management, receivables collection and debt organization tasks.
Below we will show you the features offered by inaCátalog to your sales force for controlling the collection of debts and traceability for the customer and the advantages this implies for your sales team, administration department and management.
What is payment collection management and how is it performed in inaCátalog
In regard to the management of receivables, inaCátalog informs about pending debts for each customer in-depth, grouping them in order to provide the various teams (sales, administration and management) with details about the risk that each user implies for the company. This information also allows you to know the customer’s quality and, based on several numbers, the company may restrict and even deny the placement of orders to a specific buyer.
Even though most of payment collection management is automated and managed through banks and electronic systems, there are many companies that use payment methods that require the physical presence of a debt collector.
It is in this scenario where the inaCátalog’s payment collection management becomes an essential tool, since, on top of the information of payments due for each customer, it adds features that let agents register the collections it performs during his visit, offers him the possibility of issuing a receipt for a delivery and facilitates the liquidation of payments.
In addition, it anticipates the communication of debt collections to the company’s administration, which accelerates the customer’s risk management.
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What information does inaCátalog collect on payments?
inaCátalog’s CRM system integrates with the company’s ERP in order to collect information on the debts that a customer has with the organization, and their quality. Thanks to this information, the company can know the full risk that is takes when selling to each of its customers.
Specifically, it includes the following variables:
- The invoice or document that originates the debt and its date
- The debt’s due date
- The amount pending payment
- The means of payment provided
- The due payment’s status (pending, due or unpaid)
- By adding all amounts a summary of the customer’s financial situation is obtained; in other words, the risk
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inaCátalog’s functionalities for the collection of debts
In addition to the information available to company members, inaCátalog includes a series of functionalities that facilitate and optimize the collection of debts:
- It provides an overview of the customer’s debts and their state (pending, due, unpaid or collected).
- Offers a detailed per-user report for each debt.
- Allows debts to be organized through a selection of criteria and grouping them into different lists.
- Generates reports about invoices pending payment that the agent can share during his visit.
- Allows a number of onsite actions to be performed, such as: collection, registering received payments, which debts are cancelled and their amounts. It also registers the payment method chosen and its details (promissory note number, bank, due date).
- Allows for advance payments, without prior debt and partial payments.
- Issues detailed debt collection proof to be handed during the visit.
- Generates the report for the liquidation of collections made by the salesperson within a period, in order to check the data against the documents and the cash provided.
- Immediately informs the company about payments made in order to recalculate each buyer’s risk.
- At the company’s prerogative, it enables the placement of orders to be blocked or restricted for customers that have unpaid debts.
Advantages of a proper receivables control
A proper control of receivables and the organization of debts has significant advantages for various teams in a company, especially for the sales force, the administration department and management:
Advantages for agents
Provides instantaneous and detailed information about the customer’s financial situation. This allows them to define how the visit will be approached and simplifies the preparation of collection liquidations for the company.
Additionally, during the meeting with the user itself, the salesperson can register the payment documents he receives in detail, and issue a complete payment proof to the customer.
Thanks to this, the agent can prepare for visits, manage payment collections and refrain from selling to customers that have problems, ensuring the success of the sale and the management of his customer.
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Advantages for the administration department
This connection of the administration with the activities of the sales force facilitates the registration of payments, which are registered immediately from the agents’ devices, centralizing the information and avoiding confusions between teams.
All of this allows the administrative staff to better and faster manage each customer’s financial situation. Furthermore, the department itself can block the sale to certain problematic customers, so that agents refrain from visiting them and they can optimize their day and increase productive visits.
Advantages for management
Thanks to inaCátalog’s management of payment collections and the features of this sales app, a company’s management can make sure that agents do not sell to clients that have solvency issues, minimizing the risk taken and ensuring a better invoice collection.
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Now that you know how to properly manage the collection of debts and receivables with inaCátalog and the benefits offered by the tool for this activity, keep increasing your knowledge and learn how to sell more and better thanks to business intelligence.