Why should you revisit your debt collection process?

Our World crashed and burned about one month ago. All our plans have been cancelled by the pandemic caused by the corona virus.
Reduced analysis time through comprehensive reporting in the Cloud

Business during pandemic times and beyond

After the pandemic hit, now we stay home or go to the office traveling through largely deserted roads in the middle of a recession that nobody sees as less drastic than the 2008 recession and some see as greater than the Great Recession of 1929.

The Legendary American baseball coach, Yogi Berra said once: ““It’s tough to make predictions, especially about the future.” True. We really don’t know how bad it will be, but we all agree that it is bad already. Companies will get out of the crisis with less cash in the bank, with debt, lower sales and all sort of supply chain issues. For some of them the demand will never be restored, or it will take a long time to reach to the pre-pandemic level. Every dollar or Euro owned now and a few months from now will be a lot more valuable than it used to be. With mounting commercial debt, it will be as important to get your invoices paid, as it will be to generate new sales.

Now, let’s suppose that one month from today, the restrictions will gradually lift. People will go again to work, while shops, barber shops, car wash, etc., will start operating again. What do you expect is the level of debt to be collected,one month from now? Or 3 months from now?

Can you handle the increased debt volume with your current infrastructure and people?

Do you think your current collection process will stand, or would you change it? Or maybe add different steps and procedures for some of your customers?

One month in the future and everyone will hunt for cash. Would you rather win or lose this race for liquidity?

Few months ago, we helped one of our customers to double the volume of processed collection cases by implementing SplashCollect, our debt collection software based on Microsoft Dynamics CRM. We automated many of the tasks previously made manually and the time spent with some operations has decreased from 1 ½ hours to 5 or 10 minutes. It is hard to switch fast to a different collection process. It is hard to handle 2-3 times the cases you had before the pandemic, it may be even impossible if you rely on mostly work being done with tools as MS Excel and Google Sheets.

Now would be a good time to invest in a professional debt collection software.

Why should you choose SplashCollect?

SplashCollect is a debt collection software solution that reduces the manual work needed for managing invoices and communicating with debtors by automating and optimizing collection operations and resources. You can get SplashCollect in Cloud or on Premise.
Request a free demo. Learn more here.

About our company
SplashDev is a business consulting and IT solution provider.

We help companies achieve performance excellence and make sure their investment in software brings real, measurable results. SplashDev recommends and implements the best CRM and ERP solutions on the market with solution stack on the Microsoft Dynamics 365 platform.

SplashDev designs, builds and maintains Custom Software Solutions on both the JAVA and .NET platform. We have the best developers around working with us.

Integrity. Innovation. Performance. Collaboration. Appetite for constant improvement.
These are our five strong drivers that help us set new standards when it comes to providing the greatest possible service to our clients.

Let’s start working together

Get in touch with us to discuss your project and get personalized advice on Microsoft Office 365 and Dynamics features and solutions, as well as software implementation and customization.