Due to the relatively large fixed assets – e.g. vehicles, buildings or machines – many transport and logistics companies have a high capital commitment. For this reason, liquidity and equity ratio are often under pressure. Experience shows that companies that optimise their workflows and processes and map them digitally dramatically improve cash flow and days sales outstanding (DSO).
In contrast to receivables management via Excel spreadsheets, the outstanding advantage of a professional solution is that often even complex processes can be automated. Personnel resources can also be saved through automation. When choosing your solution, make sure that dunning intervals can be automated individually.
Mobility is the foundation of every transport and logistics company. This should also apply to receivables management. Modern software solutions offer apps that enable the administration or viewing of the dunning process even when on the road. This functionality is very interesting for employees from the sales department, for example, as they are often out of the office and can check current customer data on the road with their smartphone.
Structure (location, business areas, company constructs)
Professional receivables management is essential, especially for logistics companies that operate from different locations. If payment reminders have to be printed out for each location and decisions have to be made per case as to which document goes out and when, this quickly leads to chaos. Receivables data should therefore be structured according to location and possibly business area and collected and sent in a targeted manner at the push of a button or as a workflow. This is not possible with an Excel spreadsheet.
It becomes even more difficult when not only different locations but also different company constructs are involved. A modern solution should allow these to be mapped via different administrations – i.e. different “invoice-writing companies”. It may also make sense to separate B2B and B2C workflows.
A good overview of the receivables portfolio is the be-all and end-all for successful receivables management. This should be possible via a clear dashboard that creates transparency at all times and serves as a basis for decision-making. In addition, a modern solution should include the option to draw individual reports. After all, the famous sentence of the management mastermind Peter Drucker also applies here: “You can’t manage what you can’t measure.