It all starts with the proper analysis and monitoring of your customers and prospects.
Make sure you ask the right questions. Is my customer creditworthy? What risks exist in my portfolio? How do I find the best prospects? Where are the opportunities for growth?
Answering these questions allows you to take decisions based on knowledge of the facts. Estimating the risks associated with new and existing customers is essential for your business.
At Euler Hermes, over 1500 risk analysts in 50 countries perform these analyses every day.
Good insight into changes in your debtor profile enables you to react quickly and appropriately, take the right steps and prevent losses.
The four most important benefits of proper analysis
- Reduced bad debts
Continuous monitoring of your customers prevents bad debts, because you will always be ready to take the right steps in the event of a change in risk or payment behaviour.
- Faster payment from your customers
Reduce your outstanding balance. Analyse the creditworthiness of your customers. Use these valuable insights as a basis for your credit terms and dunning activities.
- Optimized credit management
Accurate, up-to-date information about your customers makes your credit management more effective and efficient.
- Segmentation of your portfolio
Segment your customer portfolio based on turnover and risk. Use this as a basis for your dunning procedure.