OnePosting Accounting Automation Software Services Streamlines Retail Operations

TORONTO, May 31, 2017 — Enterprise Ireland, the Irish government agency for the promotion of international trade by Irish companies, today hosted the visit by Irish Minister of State, Seán Canney T.D. to its exhibition at the Store 2017 conference showcasing Irish retail technology companies.

OnePosting is an Irish company providing comprehensive accounts receivable and accounts payable automation software that integrates with a retailer’s existing ERP and accounting software. It streamlines processes, improves accuracy, reduces data entry and provides greater visibility into the enterprise. Over 50,000 members are using the OnePosting service across 29 countries.
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time spent debt collecting

16% of Time Spent Debt Collecting

Those who don’t work in Credit Management have the perception that the credit control team spends all of its time chasing debt. However, this is not borne out by the results of the information gathered as part of the Credit Management Benchmark.

One Credit Manager interviewed during the process said that management in her company expects her team to be on the telephone calling customers from first thing in the morning to last thing in the evening and would be shocked if they discovered that so little time was actually spent chasing monies due.
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sales team cost

How much does the Sales Team COST the Credit Team?

Before anyone clicks on the comment option to say that a business would not exist without sales, let me say that you are absolutely right. Sales is the engine of business, but the credit team manage the fuel (cash) that enables it to drive forward.

My question is really aimed at identifying where sales processes could be improved to reduce costs and eliminate wasted time for credit teams. The rationale for asking the question comes from data captured in the OnePosting Credit Management Benchmark.

Hard facts from the benchmark are combined with feedback from benchmark participants in this article to identify areas where small improvements in the sales process could have a beneficial impact on credit management.
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