Quantforce Software B.V.
Prins Mauritsplein 1a, 2582 NA Den Haag
The current way of working
You set out actions when invoices have become overdue, and you try to collect your money. Unfortunately, it is quite common that it may take a while before you notice that it may be very difficult to collect your money, and in some cases the invoice may not even be collectible anymore. In that case, for this customer, you may have a combination of overdue invoices, invoices which are not yet due, shipments you have sent out but not invoiced, and commitments. As soon as we see that insolvency is on the horizon, we then revert to very strict actions.
To Foresight is To Govern
Being informed beforehand that future problems are underway at you customer, enables you to take suitable actions much sooner. You can even get a signal when the invoice is not even overdue. This signal takes the form of a score, based on which you can take appropriate cautionary actions such as e.g. following-up the customer closely on payment, and/or reducing the credit limit and/or blocking orders so you keep control. As the scores are fact-based (i.e. present and past payment morale), you have a solid case to effectively reduce your losses.
The value of invoices decrease as time passes by
It has been proves statistically that the cash value of an invoice decreases as time passes by. Three months after due date rate of success in collections has been reduced by 25%. After 6 months, the reduction is by 50%, and after 12 months it is even reduced by as much as 75%. It is therefore essential to move fast and avoid an invoice to become severely overdue, and avoid overexposure on customers with poor payment morale all together.
The QuantQollect predictive scoring software provides you the essential tool to manage your collections in a future-proof manner. Why wait any longer? Simply visit our web site, order QuantQollect, and start today!
Wed, 06 June