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Credit control workflow

Best software solution

Hi, we are a limited company that collects c £5m per month, the majority by direct debit, however we are starting to have more customers who choose not to set up a DD but instead want to make manual payments.

We now need to start looking at a credit control workflow system that providers reminders, notes and dunning letters to help keep on top of the process.

Does anyone have any recommendations please? We don’t have a big team, only a couple of people will be credit controlling, so we aren’t looking for anything fancy or expensive.

 

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By tom123
20th Jul 2018 09:49

£60m per year and you are not looking for anything fancy?

The basics, surely, are reconciling your bank every day via your accounting software.

I then use ODBC connections as a means of pulling out aged debts that are live, rather than using system generated reports.

Email signatures for standard letters.

It helps that my software can email out statements and letters too.

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to tom123
20th Jul 2018 18:22

Thanks Tom, yes £60m per year, but 90% of this comes in nice and regular by direct debit, bank is reconciled daily. It’s just keeping control of the 1 or 2% who don’t pay to terms where we need to have some form of reminder system / diary system.

ODBC connections sound good to me, haven’t used these before, any good tips on where to swot up on these?

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20th Jul 2018 10:42

We use Sage 200 as out accounting software and have recently purchased an add on from our Sage software partner called Credit Hound. It links to our sales ledger in real time and allows you to design the parameters of how the system 'chases' debt to suit your own organisation. So far, it is working very well as it structures our credit controllers day and enables me to see at a glance where our cash is and what the credit controller has been doing in order to recover that cash.
It is my first experience of using credit control software and after the initial set up process it has proved to be simple to use and was inexpensive (circa £1,000 + development time).

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By tom123
to RuthFraser
20th Jul 2018 11:05

Always nice to see another Sage 200 user!

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to RuthFraser
20th Jul 2018 18:24

Thanks Ruth, unfortunately we aren’t a Sage user, our system is a contract management system that has integrated ledgers, we will need to find a non Sage related product.

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to RuthFraser
26th Jul 2018 10:34

does the addition of credit hound allow your credit control guys to takeCREDIT CARD payments now whilst chasing ? ie is this also integrated or a sage pay function ?

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08th Aug 2018 13:30

Hi
At Fluidly we do credit control software for automation and debtor CRM with all the features you mention above that you need. We currently integrate with Sage 50, Sage Business Cloud, QuickBooks and of course Xero. Any use to you? Contact us via the live button on our website -https://fluidly.com if you need any help/ have any questions..

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