Traditionally, finance teams are looked upon as bookkeepers and budget controllers, who rarely bother about customer experience. But this isn’t true.
We talked to several finance and marketing leaders across the globe to study how finance teams influence customer experience. These leaders talked about the measures their businesses take to offer ‘awesome’ customer experiences.
In this blog, we look at the top 5 ways finance teams influence customer experiences, with excerpts from finance leaders across industries.
Invoicing is a key responsibility of finance teams. The majority of our respondents mentioned billing and payment processing as the top area within the finance team’s purview that impacts the customer experience.
Accurate and prompt invoices are a must if you want to improve customer loyalty and retention. eInvoicing solutions help generate and send bills automatically to customers, without undue delays. Offering multiple payment options such as credit cards, debit cards, bank transfers, PayPal, etc. makes invoice closing faster and easier for your customers as well as for your team.
Tracey Cauley, CFA at VEM Medical, expounds:
Strong customer relationships are crucial for growing your revenue and market position. All units within a business must do their share to ensure customer satisfaction and loyalty.
The finance function must also ensure that customers have a seamless experience at all touchpoints (invoicing, dispute resolution, credit management, payment processing) with their teams.
Marcus Arcabascio, CFO, GIS Maps, says:
eInvoicing, automated dunning, AI-based cash application, and real-time credit management are some ways technology helps finance teams meet customer expectations.
HighRadius offers AI-powered autonomous solutions for the office of the CFO. Our key offerings are Autonomous Receivables, Autonomous Treasury, and Autonomous Accounting.
Automate invoicing, collections, deduction, and credit risk management with our AI-powered AR suite and experience enhanced cash flow and lower DSO & bad debt
Talk to our experts