Credit Control Robot - Automated debtor chasing programme

I work for a Business Consultants and we have developed a piece of software that links with accountancy packages, such as Sage, to automate the debtor chasing process. 

At the click of a button 'Due in a week' emails can be sent, 'Now due' letters, 'Overdue' letters so on and so forth. These can culminate in the automation of CJJ application and solicitor action letters. 

The chase process can be tailored to suit the user depending on their payment terms. The emails and letters are generated automatically, saving huge amounts of time. 

This software has was designed for a client of ours, and it has saved them a huge amount of time and stress. Their debtors balance is now under control and the finance team can concentrate on other aspects of their job. 

It would be great to hear as many opinions as possible, such as do you think there is a market for this kind of software? If so, how much would business be prepared to pay for it? 
  • Hi Luke,

    I think on the surface this is a great idea - in an evermore automated world I would welcome it, and if it saves the cost of an extra credit controller then it would pay for it self.
    The main problem I think is Sage already does this to some degree, no? asides from someone physically clicking the button it already has reports built in for Credit Control, granted you have to take time to set this up for each customer and you have to click on the button too.
  • Hi John, 

    Thank you for replying. 

    Does Sage generate and send the emails automatically? Our software also generates and prints the letter, which then just need someone to put them in the envelopes. It is an automated process so it will generate the chasers the day they fall due, the one requirement is that Sage is kept up to date daily, so chasers are not sent when they shouldn't be, but for many large companies this will be the case.  

    There is also a dashboard which quickly provides data on how many debtors are at each stage (first reminder, second reminder, solicitor action etc etc) and you can drill down to see the audit trail of each debtor. 

    I would appreciate any more thought or opinions that you may have, whether positive or negative.
  • Hi Luke,

    I'm no expert on Sage, although what I tend to do on one of our clients when running
    credit control is hit "Letters" under Customer (the accountant before me had setup a range of letters ranging from 1st reminder to final notice and legal intent), select the letter you want and either hit email or print.

    As Sage is linked to Outlook it would automatically spool and send the email with a pre-formatted verbiage and cover letter - i.e. as soon as you hit email it would appear in your "sent" items in Outlook.

    I would keep track of which letter I was at by updating the "communications" tab under the customer record. It wasn't a lot of work, but I guess the setting up of all the letters and mapping Sage with Outlook can take some time, although once its done it can work on many things other than credit control including invoicing, remittances, statements etc.

    What would take me a few hours was narrowed down to about 5 mins.

    Hope this helps :)
    John
  • Quite interesting tool! I think it will be quite useful for many people.

  • Looks good. There are so many different software available now. Also there are many new credit products and financial organizations. For example online loans are very popular nowadays. By the way if you have bad credit score I can share tips how to improve it, here is an article about this - https://cashwagon.ph/blog/how-to-improve-bad-credit-score/