The COVID-19 pandemic has been a major cause of increased average payment times and write-offs (2 to 3 times higher than in 2019¹). Also, companies are moving towards insuring receivables and customer credit risk. Prior to the pandemic, 50% of companies resorted to self-insurance, while today, that number has grown to over 80%1 .
For businesses looking to secure their cashflow it is essential that they optimise their credit and collections process and minimise customer risk. Even though it appears the worst is behind us, it's impossible to know what 2021 and beyond have in store, so now is a good time to review your company’s credit and collections management practices and take them to the next level. Read about:
5 key strategies to help you implement a best-in-class digital credit & collections process
11 tech tips to help you implement a best-in-class digital credit & collections process
How Esker can help
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Esker is a worldwide leader in AI-driven process automation software, helping financial and customer service departments digitally transform their procure-to-pay (P2P) and order-to-cash (O2C) cycles.
Used by more than 6,000 companies worldwide, Esker’s solutions incorporate artificial intelligence (AI) technology to drive increased productivity, enhanced visibility, reduced fraud risk, and improved collaboration with customers, suppliers and internally. Founded in 1985, Esker operates in North America, Latin America, Europe and Asia Pacific with global headquarters in Lyon, France, and U.S. headquarters in Madison, Wisconsin. For more information on Esker and its solutions, visit www.esker.com.sg. Follow Esker on LinkedIn @EskerAsia and join the conversation on the Esker blog at blog.esker.com.sg