How To Reclaim Your Time and Money with Draycir Credit Hound

Credit Control Software for Sage

Each year, late payments cost businesses approximately £7 billion and force 140,000 businesses to close (According to research conducted for The Department for Business and Trade.)

This ‘late payers’ epidemic isn’t just annoying; it puts your business at risk. SMEs are hit the hardest, causing serious cash flow disruption and even increased risk of insolvency.

That’s where Credit Hound comes in. It’s a credit control and collections management tool designed to help you get paid faster, without all the faff involved in traditional credit control processes.

In this article, we’ll show you how the tools in Credit Hound help you reclaim your time and money.

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The Problem with Manual Credit Control

Late Payers – you probably already have a few of those in mind. They never pay unless you chase, and even then, it takes a few nudges and a lot of patience.

Sending emails to each of those customers sounds simple, but manual credit control is inefficient for multiple reasons:

• Writing each email with the relevant invoice details is time-consuming
• Digging through inboxes for past conversations isn’t always reliable
• Checking to see if someone has paid before you chase is tedious
• Aged debt reports are only up to date at the time you export them

Most finance teams don’t have the time to stay on top of it all, so the late payments continue.

That’s why Draycir developed Credit Hound to do the chasing for you.

1. Let The Chasing Take Care of Itself

One of the biggest features in Credit Hound is automated collection paths. These allow you to automate payment reminders, escalation procedures and call lists.

Here’s how it works:

• Build personalised emails with custom fields such as due date and amount
• Schedule tasks or emails before, on, or after the invoice due date
• Tailor paths for different groups of customers, such as late payers
• Auto-create tasks to check accounts, call customers or other admin tasks
• Use the built-in AI assistant to craft perfectly worded emails in no time
• Pause automatic chasing for key accounts you prefer to chase manually

This means you can finally get overdue accounts back on track and proactively chase customers before their invoices are overdue, without spending all your time sending emails.

2. Keep All Your Communications in One Place

When you’re chasing a customer for an invoice, having all the relevant information to hand makes it easier to be effective with your chasing, while protecting your relationship.

However, it’s not always easy to find emails in inboxes and we’ve all spent longer than we’d like to admit looking for an email before.

Credit Hound stores everything in one place:

• Emails can be sent and received directly within the platform
• Each customer has a timeline where you can see all communications
• Record when a customer makes a promise to pay and track if they keep to it
• Log disputes to avoid chasing disputed invoices and protect relationships
• All your email templates are in one place to use in paths or standalone emails

Having all your communications to hand means the whole finance team works together and can easily see an accurate picture of a customer’s account at any time.

3. Track Credit Control Efforts in Real Time

It can be difficult to track your credit control efforts and see what’s working as it’s often spread across different inboxes and systems.

Credit Hound gives you a clear view of what’s going on:

• Check what emails are due to go out before they’re sent
• The dashboard shows at a glance what’s outstanding, what’s overdue etc.
• Reports show how your debt recovery efforts are performing and help you understand historic customer payment behaviour
• Integration with your accounting or ERP system (including Sage 200 and Sage Intacct) ensures both systems are up to date without manual data entry

Plus, the built-in to do list keeps everyone on track with tasks like follow up calls or admin.

4. Make it Easier for Customers to Pay

Want to remove one more excuse for a late payment? Start adding a “Pay Now” button to your invoices.

Draycir’s PayThem solution integrates with Credit Hound and allows you to add “Pay Now” buttons to your invoices and emails, providing customers with a quick and easy way to pay by card.

Plus, with PayThem all your invoices are stored in a portal where the customer can access them if they need a copy invoice. That means less queries and faster payments!

See Credit Hound for Yourself

Draycir designs and develops document management and credit control software solutions for over 14,000 users worldwide. As an accredited Draycir partner, we support and install all their products.

Credit Hound is available as an on-premises or cloud-based solution. To find out more and compare which one is best for your needs, watch our on-demand webinar ‘Credit Hound Professional vs Credit Hound Cloud’.

If you’d like a personalised demo, contact us and we’ll arrange it for you. There’s also a 30-day free trial for Credit Hound Cloud, so you can see how easy it is to use without paying a penny.

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For more information about Draycir Credit Hound, complete the enquiry form.