To communicate data regularly to management, Editis has computerized its payment recovery process.
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A Workflow to evolve from passive to active mode
At Editis, the continuous importation and delivery of literary works can mean that relations between customer base and the sales or fi nancial departments are staggered over a long period. Good knowledge of one’s contact and their weaknesses are pre-requisites for a clear, constructive long-term relation. This applies especially to the recovery service who see their work as a bit of a burden and feel powerless in the face of all the internal as well as external «grievances».
Up and running in 4 months
Today, the W4 solution automates all the following activities: Customer contact, payment rescheduling, payment reconciliation, internal and external notifications, final demands, solicitors’ letters and files, bankruptcy or creditors’ agreements.
Results
Improvement in internal coordination
Working capital savings of €560K
Average payment time by customers reduced by 20 days
Big drop in the risk of non-payment
Increased operating profit
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