The challenge
In 2009 707 implemented SAP Business One and WR1, which provides a fully integrated software solution for their end to end business process. Soon after, 707 implemented Spindle Document Distribution, an electronic document distribution solution, which allowed 707 to become more efficient, paper-free, environmentally friendly and customer-focused. 707 continued their excellent growth however, effective credit control was becoming more critical for the business. Dealing with a large number of accounts, keeping track of credit exposure, credit limits, and communications with their customers was a complex and time consuming process. Recognising the growing challenge, 707 asked ISB Global for a solution to improve and streamline their credit control.
The solution
ISB Global recommended another Draycir product, Credit Hound. 707 were more than confident about its credibility and were sure it would offer their organisation exactly what they were looking for. Fully integrated with SAP Business One WR1, Credit Hound has proved to be the perfect solution to the challenge. This user friendly software package manages credit control and simplifies the debt collection process. The automatic chasing feature sends alerts about invoices, letters, statements or final reminders, providing detailed information and status updates about individual overdue accounts. Credit Hound has improved organisation, consistency and accuracy, The results which enables 707 to collect debts quicker and improve cash flow. David Adams, Managing Director at 707 Resource Management, said: “With Spindle Document Distribution, we are already saving around £25,000 a year in reduced postage, admin, archiving and stationary costs from paperless invoicing. When ISB Global recommended Credit Hound, we had no doubt that another Draycir product would do exactly what it promises. We have been using Credit Hound for three months and have already started seeing the benefits. Each of our credit controllers save over 5 hours every week in prioritising tasks and scheduling chase reminders. It’s also convenient for our credit control staff to have visibility of every query on the screen, including date and time of a conversation. It brings more accuracy, credibility and professionalism to the way we handle our daily credit control tasks. We are very impressed with the little time it took to implement Credit Hound, we were up and running within 1 month from purchasing the product.”
The results
Credit control is more efficient and accurate
5 hours a week saved, per person
Monies overdue reduced by 20% in the first three months
Debtor days reduced from 60 to 45 in three months
Products
Credit Hound
