As the Chief Financial Officer (CFO), your role is to guarantee the development and the durability of the company. To achieve this, in the current economic context, it is essential to be equipped with automated and integrated tools.

One of the critical elements concerning the financial health of a company is undoubtedly the management of the customer account. Indeed, cash recovery and customer risk management are at the heart of financial concerns. It is also necessary to limit and optimize the collection procedures of customer receivables.

For an efficient credit management policy to be deployed, it is essential to rely on the right resources: qualified personnel associated with robust financial software capable of managing your invoices, regardless of the volume, monitoring the right financial indicators in real time (DSO, aged balance of payments, etc.) and facilitating the procedures related to collection.

11 reasons to choose ELOFICASH

1. Reduce your DSO by 20%

On average, thanks to the ELOFICASH debt collection software, our customers, such as Toshiba, La Générale de Santé or Groupe Nice Matin, have reduced the average payment term of their customers by 20%!

2. Follow your indicators in real time

Thanks to its operation and its integration in the existing information system, ELOFICASH offers the Financial Director and his team a precise vision of the financial health of the customer item thanks to the update, in real time, of all the monitoring indicators.

 3. Create macro, micro and customized indicators

At the outset, ELOFICASH provides you with the usual indicators needed to monitor receivables: DSO, aged balances, forecasted balances on payment promises, unpaid invoices… Then, you can analyze these indicators in detail and identify improvement levers.

It is also possible to create your own indicators, either according to business specificities or a specific segmentation.

4. Manage the customer’s account

The decision-making tool integrated into the ELOFICASH solution provides you with a global view of the customer base and the entire company. Thanks to this tool, you are able to manage your company’s receivables in a healthy way.

5. Customize your interface

Each user has different needs. This is why ELOFICASH offers default interfaces specific to each user group. Then, each user, whether he works on dunning, litigation or amicable collection, can customize the interface of his workstation to gain in efficiency.

6. Set up your own dunning scenarios

Like the user interface, the ELOFICASH collection software package offers standard dunning scenarios that you can fully customize, in terms of message content, rhythm and recipients. Indeed, it is not uncommon to segment your customers according to their importance, their solvency and their payment habits.

7. Create personalized ratings and scorings

Personalization is certainly the key to success for the simple reason that all organizations are different and there are multiple ways to calculate customer scoring. It was therefore only natural that ELOFICASH should allow you to transpose the scoring you use in your company into an indicator updated in real time.

8. Save time by automating

Thanks to the customer reminder scenarios, it is possible to automate a more or less important part of the process: sending emails, scheduling tasks, sequencing reminders… Save time and focus on value-added actions!

9. Improve dispute management

Make it easier to manage disputes and improve your rate of successful out-of-court collection thanks to a precise follow-up of outstanding invoices. And thanks to a complete access to the customer file, grouped on the same screen, you improve significantly the performance of your negotiations, whether by email or phone.

10. Track and manage your team’s tasks

In the workflow, tasks are assigned to the different team members in order to complete the collection process. A task management and tracking tool is therefore integrated into ELOFICASH. Each claim can therefore be managed in “project” mode with milestones and deadlines.

11. Streamline exchanges

The cash culture becomes a real advantage to accelerate collections. This culture must be shared by the entire company. ELOFICASH is therefore equipped with collaborative tools that increase the speed of decision making and fluidity of information that is at the heart of the collection process.

Want to know more about how ELOFICASH works?

Fill out the form below to make an appointment with one of our experts and attend a detailed presentation of ELOFICASH that will allow you to optimize the management of your receivables now.

Reduce your DSO by 20% too!