Time to stop pedalling squares and souplesse into a better Collections process

<p><em><strong>Learn how Esker can help your business to transform your Collections process.</strong></em></p>

<p>I wonder if, many years ago, the way of collecting payments from customers involved someone riding their bicycle from customer to customer to ensure payment was received in full? Or have I just been watching too much Call The Midwife?</p>

<p>Even now&nbsp;<a href="https://www.esker.co.uk/cloud-business-solutions/order-to-cash/accounts…">Collections Management&nbsp;</a>can still be a&nbsp;long, complex and frustrating process. Unpaid invoices, late payments, time wasted on collection calls and emails are a cyclist’s equivalent of&nbsp;<em>pedalling squares</em>¹; punctures, gear issues and the ultimate pain of falling off your bike!</p>

<p>For&nbsp;<a href="https://www.esker.co.uk/trek-bicycle/" target="_blank">Trek Bicycle</a>, the largest bicycle company in the US, the Global Director of Financial Services, Andrew St Clair, said, “We didn’t have a standardised collections tool before Esker. Everyday tasks, like sending reminder letters, were all done manually… there was no real consistency in our process.”</p>

<p>With automated Collections Management, Trek Bicycle achieved:</p>

<p>- Reduced past-due percentage by 4%<br />
- Improved productivity; several staff members were able to be reallocated to more business-critical positions<br />
- Higher satisfaction; customers now have access to a self-service portal to make payments, manage preferences and more<br />
- Reduced Days Sales Outstanding (DSO)<br />
- Improved collaboration; users can now go into Esker, choose an invoice and assign tasks to other departments (e.g., cash application, etc.)<br />
- Enhanced visibility; customisable monthly management reports can be accessed directly from the dashboard</p>

<p>Automating the management of the collections process is the cycling equivalent of&nbsp;<em>souplesse</em>²; to cycle with high cadence and ease. Or perhaps, even, for those of us who are slightly lazy, a ride on the back of a tandem with someone else pedalling extremely fast in front, or an electric bike?</p>

<p>Summed up by Andrew St Clair at Trek Bicycle, “The discipline that Esker drives in the credit and collections process is phenomenal. In my 20-plus years, it’s the best product I’ve ever used based on its simplicity and ease of navigating.”</p>

<p>You can find out more about Esker’s Collections Management solution&nbsp;<a href="https://www.esker.co.uk/cloud-business-solutions/order-to-cash/accounts…">here</a>. Or alternatively,&nbsp;<a href="https://www.esker.co.uk/contact/">I’d love to hear from you</a>, and to help you on your journey to Collections success.</p>

<p>^{1&nbsp;Pedalling squares&nbsp;means the cyclist is floundering, pushing a big gear with no élan and generally struggling,&nbsp;https://cyclinguphill.com/cycling-terms-explained/<br />
2&nbsp;Souplesse&nbsp;means to pedal at a high cadence and with seeming ease,&nbsp;https://cyclinguphill.com/cycling-terms-explained/}</p&gt;