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"Hello, my name is Michael. As the founder and managing director of a medium-sized company in the household goods sector, I have already mastered many challenges. Today I would like to share a very personal story with you: It's about coping with payment defaults, an experience that not only changed my company, but also my view of receivables management for good.
The challenge: A growing problem
As my company grew, so did the problem of payment defaults. My employees and I were increasingly losing track of the situation, and processing the reminders was taking up so much time that our actual work was suffering as a result. My company's liquidity was in serious danger. I felt like a captain whose ship was in danger of sinking without knowing how to plug the leaks.
The first attempt at a solution: external service providers
In an attempt to turn things around, I decided to commission external service providers with the dunning process. Initially, this strategy seemed to work, but I soon realized that the repayment rate had hardly improved. Worse still, the impersonal and sometimes harsh language used by the service providers in the reminders led to negative customer reviews, which damaged my company's reputation.
"In that dark moment, I felt lost, as if every action taken was just another step in the wrong direction."
The turning point: The collaboration with the DIAGONAL Group
When I had almost lost hope, I came across the DIAGONAL Group. Their empathetic and professional approach to receivables management was fundamentally different from anything I had known before. Skeptical but desperate for a solution, I gave them a chance.
"The DIAGONAL Group was like a lighthouse in the stormy seas of my everyday business life. A sign of hope when everything seemed lost."
By working with the DIAGONAL Group, I was not only able to significantly increase my repayment rate, but also improve my relationship with my customers. The negative reviews went down and trust in my company was restored.
What particularly impressed me was the DIAGONAL Group's individual approach. Not only did they develop a tailor-made solution for our specific problem with payment defaults, but they also revolutionized our approach to customer relations. I was really surprised at how effective the empathetic approach to receivables management can be, which I was a little doubtful about at first. This enabled both an increased repayment rate and a strengthening of the customer relationship. Their transparent way of working also gave us a clear overview of the status of our receivables at all times and enabled us to make informed decisions.
The insight: More than just receivables management
This experience taught me that effective receivables management is much more than just collecting outstanding debts. It's about showing understanding and respect for customers while at the same time ensuring the company's liquidity. Thanks to the DIAGONAL Group, I have been able to focus again on what I do best: running a successful business and making my customers happy.
A clear recommendation for your company
My story is an example of how important it is to choose the right partner when it comes to receivables management. The DIAGONAL Group has proven to be the partner I can rely on. If you find yourself in a similar situation, I would like to encourage you to take the plunge and get in touch. I am sure that you too can benefit from working with the DIAGONAL Group and thus take your company forward.
Your Michael"
We hope that Michael's story has given you an insight into the opportunities that the DIAGONAL Group can offer companies like yours. Please note that while Michael and his experiences are fictional, the problems and solutions presented are based on real-life scenarios that we at DIAGONAL Group experience and deal with on a daily basis.
If you would like to find out more about how the DIAGONAL Group can help your business, don't hesitate to contact us. We are here to help:
https://diagonal-gruppe.de/kontakt
Questions & answers about receivables management
What is receivables management and why is it important for my company?
Receivables management encompasses all the measures companies take to effectively manage outstanding receivables and receive outstanding payments from customers. It is crucial for maintaining liquidity and therefore for the financial health and stability of a company.
How can the DIAGONAL Group help my company with payment defaults?The DIAGONAL Group offers individual solutions in the field of receivables management that are specifically tailored to the needs of your company. Our empathetic approach not only improves the repayment rate, but also strengthens the relationship with your customers.
What sets the DIAGONAL Group's approach apart from other receivables management providers?
In contrast to many other providers, the DIAGONAL Group focuses on an empathetic and customer-oriented approach to receivables management. We understand the importance of good customer relationships and work hard to maintain and strengthen these in the dunning process as well.
Can the DIAGONAL Group also deal with very specific or difficult cases of payment defaults?
Yes, the DIAGONAL Group has extensive experience in handling a wide range of receivables management cases, including particularly difficult or specific situations. Our experts develop customized strategies to achieve optimal results even in complex cases.
How do I start working with the DIAGONAL Group?To start working with the DIAGONAL Group, you can simply contact us via our website. A member of our team will then get in touch with you to discuss your specific needs and how we can best support your business.
Book your free consultation here:
