The introduction of Vopak Shared Services (VSS) introduced more structure to the tank storage company’s credit management. VSS singled out OnGuard’s credit management software as the right product to take the professionalisation and optimisation of the credit management process a step further.
- The DBO decreased substantially from 178 to 38 days
- The average age of the receivables went down
- Decrease in average age of outstanding invoices (>365 days from 12% to 2%)
- Correct information available for each account and each invoice
- Highly qualified and motivated personnel
- Use of the correct profiles
- Standarisation of procedures and work processes
- A profile for each account group
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