We read about the need for a settlement process:
https://faoblog.com/processes-ar-collections-settlements-2/
Another process which is similar, in terms of process handling, but is crucial to any business is “Customer Support”.
This process, as the name suggests is crucial for any business as the customers of your client will need support at all stages of a “buy” process.
To understand this, let’s revisit what a “buy” process will be and at what stages a customer will need support.
- Prospecting stage – A customer or a to-be customer will need to understand what your client has to offer. He needs to understand the product or service, map it to his requirements, understand technical and specification details, compare your client’s offerings to similar offerings in the market, do a cost benefit analysis.
- Order placement – Customer needs support during order placement stage as well, what would be the delivery timeline, any undefined terms to be clarified etc.
- Material delivery – Queries on billing, differences in order delivered and that placed, transit damages to goods, material receipts, specification verification and suitability to the customer’s requirements.
- Payments – Early payment discounts and other privileges, disputes, resolutions and settlements.
- Loyalty offerings – Repeated offers and execution, scope expansions
We will discuss each component a little more in detail in the posts to follow.
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