An effective system for your accounts receivable management is crucial to the success of any business. It allows you to optimise your cash flow, mitigate risks and maintain a healthy financial position. Within Credit Management Software, the accounts receivable portal plays an essential role. In this article, we are going to discuss why a debtor portal is an indispensable part of a good Credit Management Software.
What is a debtor portal?
CreditDevice ‘s accounts receivable portal is an online platform that enables customers to view and manage their open invoices and related information online to view and manage. It provides a streamlined and automated way for both businesses and customers to manage their credit management processes and it prevents unnecessary inbound email traffic.
Solution to common problems
One of the most common comments within accounts receivable management is: “I did not receive the invoice, can you send a copy invoice?” This can lead to delays in payments and frustration for both customers and businesses. Fortunately, the accounts receivable portal can solve this problem by making copy invoices readily available, allowing the customer to download them directly . It is also possible to let the customer pay directly via IDEAL or other payment options. By making copy invoices directly available via the debtor portal, customers no longer have to ask for copies and thereby delay their payment. They can easily log in to the portal, navigate to their invoice history and download the required copy invoice directly . This provides customers with easy and direct access to all their invoice data.
Benefits of a Debtor Portal
Besides solving the problem of missing invoices, the accounts receivable portal offers many other benefits. It improves the customer experience by offering customers self-service. They have 24/7 access to their invoices, payment history and other relevant information. Customers can easily make payments, set payment schedules, report complaints or ask questions through the portal. This reduces the need for telephone contact or e-mails, increasing efficiency and improving customer satisfaction. Moreover, customers are not bound to office hours and can also access information or take action in the evening.
A tool for efficiency and cash flow management
The accounts receivable portal plays a crucial role in making your credit management processes more efficient. It automates and streamlines tasks, saving both you and your customers time and resources. Your customers can access their invoices and payment information themselves, resulting in less administrative burden and more efficient handling of outstanding payments. Thanks to the direct link between the debtor portal and the Credit Management software, the process is seamlessly integrated. For example, for a payment arrangement, you only need to give approval; the software takes care of the rest. The advantage is that you can decide which functions you want to enable. For example, don’t want customers to be able to create a payment schedule? No problem, that option can be easily disabled. The same applies to functions such as making a pledge or changing contact details. It often happens that customers’ debtors do not pay their bills on time. The debtor portal enables them to communicate and pay outstanding items efficiently and easily. The effect is that our customers get paid faster which also has a positive impact on cash flow.
Accounts receivable portal: essential for any business, large or small
It’s obvious: the accounts receivable portal is an essential part of your Credit Management Software. It contributes to a better customer experience, increases efficiency and improves the management of your cash flow. With a debtor portal, you optimise your credit management processes and strengthen the financial health of your organisation. Moreover, the debtor portal proves to be a particularly useful tool for companies that do a lot of business with SMEs or sole traders. But larger companies and corporates also reap the benefits of the accounts receivable portal. These companies often ask for copy invoices or want to add a PO number, for example. This normally takes a lot of time, partly because invoices have to be approved internally before they are paid. By providing access to copy invoices and the ability to add PO numbers, you can speed up this process considerably. The accounts receivable portal thus proves its value for companies of all sizes. Another significant benefit of the accounts receivable portal is its positive impact on your cash flow management. By offering customers different payment methods and minimising payment delays, you can receive payments faster and thus optimise your cash flow. A reduction in the number of outstanding invoices has direct financial benefits and reduces the risk of non-payment.
Want to know more about the debtors’ portal?
Do you have questions about the debtors’ portal? Contact us online or call us on +31 71 36 400 60.
