Automated customer communications is essential to improve office productivity and increase cash flow. However, it is not possible unless you have valid email addresses in your customer master data. If you are missing email responses to your automated communications it could be that you have invalid, incorrect or stale email addresses in your customer master data. You can discover and correct problems with email addresses in your accounting department. The place to start is with a thorough cleansing of your accounting data.
Cleanse Accounting Data
Invalid, incorrect and stale email addresses in customer master data can lead to operational problems, inefficiency, disputes, unauthorized deductions, chargebacks, and unhappy customers. It can also make it impossible to reach all your customers with automated customer communications. If you think you are missing email responses, then consider doing a data cleanse of your accounting data.
You could use a software tool like BriteVerify. It is an email validation solution. You can run your entire accounting data base through to discover which emails are bouncing because they are no longer active or valid.
Problem with Personal Email Addresses
It could be that your customer contact quit, or was fired or laid off. You may not always receive notification of a change at a customer, and if you provide a self-service portal for customers, they may not always update their account data. This is a real problem if there is turnover and you have personal email addresses for AP contacts, because you now have no email address.
You now have to invest the time and effort to obtain a new email address. When you are faced with this situation, be sure to get a company email address for your AP contact such as AP@XYZco.com. You can also get a personal email address for your contact if you choose.
There is no need to put up with the problems created by missing, incorrect, invalid or stale email addresses. You can cleanse your accounting data, replace inactive email addresses and fix invalid ones to keep your customer master data up to date.
Email is the single most important data you can have for accounting. Email addresses give you the power to go digital, be paperless and automate your accounting processes and communication. Automated credit and collection solutions make it possible to use email addresses to go paperless, optimize automation, and increase cash flow.
Lockstep Collect, a leader in cloud-based credit and collection platforms, can help you collect cash in 4 ways:
- Cloud-based solutions
- Automated vendor and customer communications
- Customer and vendor self-service
- Collections Activity Management
Lockstep Collect is an experienced software partner that can help you maximize your collections and cash flow in the new normal.
If you would like to learn more about how you can benefit from automated credit and collection solutions, please contact Lockstep Collect at www.anytimecollect.com.