The Analysis News & Opinions


Opinion


Where do I start? What do I chase? What am I owed?


“If you cannot see a problem, you have a problem.” I absolutely love this phrase and what it means to me, after many years within the credit industry, from the grass roots of sales ledger through to credit management both national and international. Having taken on the account management


of a major department store with over 100 locations, I went about looking at what was owed. To my sheer amazement I could not make head nor tail of it: there were aged invoices not paid, payments not allocated, debit deductions, and credit notes not taken. The thrill of recreating the account, meeting


the customers’ finance directors, and coming back with a payment resulting in a release of bad-debt provision, as well as adding funds to the P&L, was satisfying indeed, and was a feat repeated many times. As a consultant I was tasked with this


same challenge. The first case was a public- sector debtor, with over a years’ worth of missing and unallocated payments. I recreated the account, identifying and


recovering £600,000 as well as putting together a process to enable invoices to be settled on first presentation. The second was a bit more of a challenge as


the debtor traded with 16 different locations, and each location was doing things slightly differently. The account was consolidated, resolved, and a process put in place. Someone recently said: “Reconciliation is,


in my view, something that everybody hates,” but this is something I absolutely love! To me, it is like completing the Rubik’s Cube: you can spend hours and get nowhere or with the right strategy it can be cracked (or almost). The message is: if you do not have the


right process or cannot see what is owed, how will you reduce your DSO and build a strong business partnership with your customer?


Atul Vadher Credit collections professional


Arvato announced as headline sponsor


In association with


Arvato Financial Solutions has taken the opportunity to put itself at the very heart of the new Summer event for the credit, collections, and enforcement industry, which will now officially be known as CCRInteractive, in association with Arvato Financial Solutions. Stephen Kiely, editor of CCRMagazine,


said: “In making the bold move to move the event to June, to become a Summer event, we knew that we were taking a risk, so we are very pleased to have such a significant industry player to be taking this step with us to build a major new event for the industry. “These are exciting times. We know that


today’s credit, collections, and enforcement profession has become saturated with events, so we took decision to move to the Summer to allow professionals to learn from the unparalleled experience and knowledge on offer. “Certain aspects remain essential to our


success: innovation, value for money (both as a sponsor and a delegate), and the highest quality of content. “We all know that the industry has seen


the prices of its events rise ever higher, so that they have become affordable to only a small cross-section of the industry, generally suppliers. CCRInteractive seeks to buck this trend by giving creditors an incentive to bring more members of their staff: delegates will be able to purchase tickets in debate- session batches to encourage increased


6 www.CCRMagazine.com


participation – with an improved price with the more tickets bought. For example, if they buy three tickets, they can either have one person attend three debates, or three people attend one each. Arvato believes that it has the capabilities


to deliver full end-to-end financial solutions, with its main objective being to work with client partners where they can provide a complete service. Their vision is to be the backbone for seamless and secure financial transactions between commercial operations and their customers. In creating the most trusted and reliable


environment they aim to make life easier for its clients, whilst at the same time allowing them to grow their business not just today but far into the future. They work to optimise the financial


performance of clients through leading-edge credit-management solutions. By replacing uncertainty and risk with


structure and trust, Arvato aims to empower sound financial transactions all over the world. Its data-driven and process-obsessed


experts are dedicated to creating next-level solutions, enabling it to stand proudly behind businesses and provide them with the most effective platform for achieving growth. l To find out how you can be part of the industry’s most successful event, contact Gary Lucas on 07785 268404 or e-mail gary@ccrmagazine.co.uk.


February 2020


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