10 May Reducing late payments with Aston iTF – Testimony of René Dehry
Transcription Rene Derhy :
Late payments and unpaid invoices can weaken a company’s cash flow and jeopardise its future. It is therefore essential for a company to structure its customer accounts, which can represent up to 40% of its assets. To monitor the solvency of these customers and prospects, to be compensated in the event of non-payment and to entrust an expert with the collection of its receivables.
Credit Power, for example, has taken a new step forward by making credit insurance more effective. This solution enables companies to optimise their cover against non-payment, reduce their payment times and facilitate their access to finance.
[Jean-Marie Sellier, CFO]
“It’s a solution that goes further than credit insurance because it integrates the whole of the trade receivable. It is not only interested in the customers of the insured zone but in all our customers. Finally, there is a very sophisticated customer reminder module and the premium is calculated on the basis of outstanding receivables. Secondly, it is not a fixed software, i.e. we can request specific developments for the company. Finally, it has allowed us to improve the DSO because of the premium calculation.
Credit Power is a web-based platform accessible via any browser. Developed in the cloud, it offers simplicity, security and maximum confidentiality.
[Amaury de La Lance, founder of Aston iTF]
“New technologies and in particular the Cloud and Big Data bring 3 innovative advantages to Credit Power.
The first advantage is simplicity. Simplicity in use because the ergonomics are personalised according to each type of user and each job in the company.
The second advantage is power. The power linked to Cloud Computing. It is the ability to equip companies of all sizes, from SMEs to the largest international groups.
The third advantage is provided by collaborative networks. The collaborative aspect is the ability to connect both in the office and on the move, on the phone or on a tablet.
In a context of crisis, where payment times are getting longer and cash flow is becoming tighter, being able to optimise the management of one’s accounts receivable is becoming a priority in order to have more liquidity, reduce working capital requirements and protect profitability.
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