FRM has brought to the back office, what CRM has brought to the front office. Companies have invested a lot of focus into automating sales, marketing and fulfilment, but little has changed in the way businesses bill customers and collect payments. Studies have shown that customers will respond quicker and pay on time with fewer queries, if the bill is clear, easy to understand and most importantly delivered in the preferred manner in which the customer wishes to receive. Providing the customer with on demand channels to pay or query bills. Businesses that continue to rely on manual processes and antiquated systems are not only exhausting AR resources, but are often unable to handle delivery offering zero flexibility to respond to the customer.
Quadient FRM, powered by OfficeTorque, automates most of the workflow and communications associated with bill presentment, payment, collection reminders, disputes and reconciliation, not only reducing costs and debtor days, but also improving the end customer experience. Managing the post transactional relationship with your clients is a critical part of any business. For companies that provide credit to their customers, the big challenge is to get paid and in a timely manner. Quadient FRM powered by Officetorque, has been specifically designed to automate a large portion of the manual processes and communications associated with AR Management.