The changing face of customer satisfaction
No matter what industry sector, the way companies interact with their customers is changing. The way a product is sold and payment collected is dictating a customer’s buying habits. Get it wrong and companies risk alienating their customers. But get it right, and customers will buy more, pay quicker, and be much more satisfied— enhancing their overall experience.
In an ideal world, the collections function wouldn’t exist. There would be no disputes, no delivery issues, and no short payments— customers would pay for goods on receipt and the cash would be automatically allocated. But with new digital channels putting increased focus on the effectiveness of collections, how do companies resolve issues and disputes quickly, enabling timely collection of cash that delivers a positive experience to their individual customers? How do they ensure that their collections function is contributing to top-line growth and improvements in working capital?
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