When heating and air conditioning giant Trane Commercial Systems decided to implement Credica across its European operation, it was aiming primarily to improve its receivables processes. It hasn’t been disappointed there – since implementing the system one office has reduced its DSO by 27 days.
Even better, though, Credica has helped Trane fine-tune its customer service.
When it comes to communicating with customers, Trane has become more proactive without any extra effort. For example, it sends out a letter a specified number of days before an invoice becomes due to check that the customer has received it and enquire about their intentions regarding payment. “Beforehand, we were unsure about how effective this would be, but in fact the reaction has been excellent – in Poland the response to the letters has been close to 100%.”
The sales force, too, are able to refine their approach to customers now that they are equipped with Credica reports customised to their needs. Kees Lugthart says: “When a sales person is talking to a customer it’s vital they have a complete picture of the account – all open invoices, any outstanding disputes. It creates a more professional impression and also allows the sales team to provide essential help with the process of debt collection.”
We want our customers to see us a partner, not just a supplier, and Credica is helping us to show that we are a reliable and serious partner.
We know that whatever direction we want to go in future, Credica has the flexibility to adapt.
A major benefit of implementing Credica is the substantial reduction in outstanding debt – for example, the office in Lyon has reduced DSO by 14%. While Credica was not the only factor in this achievement – Trane has also been introducing the Six Sigma Quality Improvement methodology – Kees Lugthart has no doubt that it has made a significant contribution.