Credit Control – Live management of within terms credit
CMOS can provide you with a best in class Credit Management and Credit Control function. CMOS will offer support during your customer journey. Your customers will receive a more professional service at a lower cost to you and experience the best possible payment journey. This service will be delivered under your company branding name. Our service quality model is based on maximising collection and minimising cost to you. Protection of reputation and retention of customers are always our top priorities.
A CMOS-provided credit management and credit control solution will be more effective in converting your invoices to cash e.g. by reducing working capital and lowering DSO, will need less FTE than comparable in-house solutions. Our experience shows that this model can deliver substantial cost savings, particularly on headcount-related costs as well as improved performance.
Our solution can be provided on an outsourced basis from our contact centre or by placing staff at your site on a full-time or hybrid basis. Retention of your legacy credit control staff by CMOS may also be possible as part of the solution, depending on circumstances.
Service features include:
- Use of your collection platform in conjunction with the CMOS platform
- Pre-agreed chase path and communication protocols
- Training of our staff on :
- Understanding your business
- your systems, and
- on your customer relationship management culture
- on answering the most frequent queries raised by customers
- Online Query Management Portal
- Payment directly to your bank account
- Management of instalment plans
- Working to agreed qualitative and financial KPIs.
- Assignment of a CMOS project manager to oversee service set-up.
- Assignment of a CMOS Operations Manager to oversee staff performance and liaise with your business day to day as necessary.
- Regular performance reports against KPIs, and reviews with your management
- Assignment of an Account Manager
- Provision of contact escalation paths
- Full compliance, including with GDPR
Our Geniusppt platform and dialler has permitted us to develop and operate a dynamic collection system which optimises communication and collection while minimising labour costs. Over time, experience has allowed us to build dynamic features into the system’s customised chase path-building process based on debtor behaviour, such as debtor status, optimum time to call, preferred communication medium etc.
