CFO Advisors offers a unique variety of services and software to assist you in managing the entire order-to-cash cycle, i.e., improving account handling from the point of sale on through to the check clearing the bank. Should you find any particular service to be of interest, click on the Respond Button at the end of each section and we will be in touch.
CUSTOMER SERVICE AND RECEIVABLES STAFFING
"Outsource" Staffing - This consists of bringing in a third-party to handle a role or function considered to best be performed (faster, cheaper or better) by a third-party. Fees are based on such variables as the number of accounts to handle, the average monthly A/R, or a flat sum.
In one case over the last several years, CFO has five of its staff placed onsite at a major firm in Piscataway, NJ, where they manage a small, but significant portfolio, of our client's A/R. In this role, CFO is seen as "transparent" and in all calls and correspondence we identify ourselves as being our client. The results desired and achieved: the client's staff was freed up to work larger and more complex accounts while small-balance customers received time and attention heretofore unavailable. DSO went down; customer satisfaction went up.
"Insource" Staffing - In this scenario, CFO Advisors provides on or offsite temporary and/or permanent outsource support that goes into action after an account is proving to be unresponsive and before it is considered a candidate for assignment to a collection agency. The purpose at this point is to intercede as a problem-solving third party "intervention" as a final, customer-centric attempt to resolve disputes and misunderstandings and bring this customer back in relationship with our client.
As example, over a period of some ten years CFO has successfully supplemented the best efforts of a major urban newspaper in this "sifting and sorting" team approach to slow-pay (or no-pay) accounts. The results desired and achieved: customers appreciate the extra time and attention paid them, the credit staff appreciates our attention to detail and account reconciliation, and worthwhile clients are retained. The best example of helping to "get the money and keep the customer."
Results to expect - Twice the recoveries at half the cost of agencies or internal staffing -- and with customers brought back as good payers.
For those requiring off-site services, our series of Internet, email, phone and letter contacts combine the speed of the Web with this same impact of positive, third-party intervention.
TRAINING AND ORGANIZATIONAL DEVELOPMENT
Tailored workshops enhance the three key elements to collection and customer service successes: customer satisfaction, employee satisfaction, and net cash recovery.
"Total Quality Relationship Management" (TQ R M) emphasizes the communication skills necessary enterprise-wide to build and maintain outstanding customer relationships from the initial sale through final collection. Additional, tailored workshops focus on improving the productivity of your credit and collection staff by training them in the use of Internet-enabled software tools for contact and credit purposes.
Our work with hundreds of companies over the past decade has shown that our trainings result in less customer "churn," improved staff retention, and teamwork between sales and credit that is the envy of others in any industry.
MULTI-LINGUAL AND TRANSLINGUAL INTERNET TOOLSIf the idea of communicating over the Internet in a multi-lingual and translingual fashion appeals to you - without the expense of hiring an army of interpreters and specialized IT talent - you have come to the right place!
In partnership with WebViews, Inc. (www.web-views.com), a company which has developed web-based business technologies based on an LTOE (Language Transparent Operating Environment), we can offer our clients both online, email and print services in English which clients, customers and users receive tailored to their preferred language.
As an example, using "Borderless Mail" (B-Mail) you can send an email to France (Germany, Italy, Japan, etc.) in English and have it received in the language of the recipient. Moreover, should you include attachments in your language, they arrive in the language of the intended audience.
As a second example, websites can be created and viewed in any preferred language. Your Source Site in English is "localized" into a destination web page which could be in Western European languages, Eastern European, Asian and middle eastern (including Farsi, Arabic and Hebrew).
Described in as simple terms as possible, this is an on-demand "utility" technology - not a software, nor a "machine" translation subject to misinterpretations and misspellings. It is a sophisticated and well-engineered process that is already in use.
Ready to go Global?
ORDER-TO-CASH CONSULTING
Let's deal with the disease…not the symptoms! It should be obvious that, what many companies see as a collection "problem," we at CFO see as a process flaw "symptom." Somewhere, somehow, further upstream from the collection process, something did not function to maximum effectiveness. This often cascades into a time-consuming and vexing project. Oh, and let's not forget the finger-pointing that inevitably shows up.
CFO's staff is comprised of an interesting amalgam of MBA talent (two-thirds of our management staff) and strong experience (averaging 20-plus years of real-world experience). Accounts are not "handed off" to junior level execs, but handled in full by the senior consultant(s) selected by our clients.
CFO people have worked with some of the largest companies in the U.S. This knowledge and wisdom is put to work for you in determining the "Best Practices" that are applicable to your company's management of its receivables from the point of sale on through to the check clearing the bank. CFO's expertise in dispute management enables identification of the internal "root causes" that delay cash collection and how these causes can be resolved with customer satisfaction and improve cash flow as the goal.
Results to expect: Procedures that make sense, Policies that are grounded in reality and Best Practices, and an enrolled staff that will commit to the follow-through needed.
