Transcription by Rene Derhy :
Late payments and non-payments can undermine cash flow and jeopardize a company’s future. It is therefore essential for them to structure their trade receivables, which can represent up to 40% of their assets. To monitor the solvency of customers and prospects, receive compensation in the event of non-payment, and entrust debt collection to an expert.
Credit Power, for example, has taken credit insurance to a new level of efficiency. This solution enables companies to optimize their cover against non-payment, reduce their payment times and facilitate their access to financing.
[Jean-Marie Sellier, Chief Financial Officer]
“It’s a solution that goes further than credit insurance, since it integrates the entire accounts receivable. Secondly, it doesn’t just focus on customers in the insured zone, but on all our customers. Finally, there’s a highly sophisticated customer reminder module, and the premium is calculated on the basis of outstanding receivables. Secondly, it’s not a fixed software package, meaning that we can request specific developments for our company. Finally, it has enabled us to improve DSO thanks to the bonus calculation.
Credit Power is a web-based platform accessible via any browser. Developed in the cloud, it offers maximum simplicity, security and confidentiality.
[Amaury de La Lance, founder of Aston iTF].
“New technologies and in particular the Cloud and Big Data bring 3 innovative advantages to Credit Power.
The first advantage is simplicity. Simplicity of use, as the ergonomics are customized for each type of user and each job within the company.
The second advantage is power. The power of Cloud Computing. It’s the ability to equip companies of all sizes, from SMEs to the largest international groups.
The third advantage is provided by collaborative networks. The collaborative aspect is the ability to connect both in the office and on the move, on a phone or tablet.”
In a context of crisis, where payment times are getting longer and cash flow is becoming tighter, optimizing trade receivables management is becoming a priority in order to increase liquidity, reduce working capital requirements and protect profitability.