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Steps to Debtor Management Success
#1 Debtor Management Software in SA ●
1. Are you a Match?
One of Jumping Fox Software’s unique features is the inclusion of an audit phase in our sales process. This is how we ensure that we are the right fit for every new client that walks through our doors. That’s because it is important to us to know that we can add value to your current internal debtor management processes from the outset of our relationship.
But if you want to be absolutely certain that Jumping Fox Software is the right partner for you, start by asking the right questions. ● Does your organisation view technology as integral to your future development, progress and debtor management success? If you have a website and you use technology in your business or school, chances are that your answer will be “yes”. ● What financial software does your company use? Effective accounting systems and processes are essential, and having the right software shows that you’re serious about growth. ● Do you believe that workflow automation can improve your internal debtor management and collection processes? ● Is legal compliance a priority for you? ● Do you already have some technical capabilities in your organisation? Having a few tech-savvy people on your team certainly makes adopting new technology much easier. ● Is your debtor management team committed to actively participating in onboarding and training sessions and collaborating with a team of experts to maximise your benefits? That truly is the best way of ensuring your business or school gets the value they pay for. ● If you answered yes to these questions, and debtor management is a major part of your business, Jumping Fox Software is the solution that you need.
Debtor management software helps businesses and schools to efficiently manage and track their outstanding debt. This software automates the process of monitoring, collecting, and reporting on debts owed to an organisation, ensuring timely payments and reducing the risk of bad debt.
What this means for you is that all your work becomes valuable because it is done at the right time, sent to the right people, with the correct balance, and in the required legal format and steps.
Another important advantage is improved cash flow. By ensuring timely notifications and follow-ups on outstanding payments, you can maintain a steady cash flow -crucial for operational stability. Our software automates reminders and legal notices to debtors, reducing the manual effort required for collections and maintaining consistent communication.
Reporting is typically a demanding manual process, and the risk of making errors is relatively high. However, with the right software , the entire process is automated - which not only saves countless hours but also provides accurate collection reports with in-depth insights into outstanding debts, payment histories, and debtor behaviours. This enables businesses to make informed decisions and strategic debt recovery efforts.
What about a detailed and efficient collection paper trail? Using a system that tracks every action taken on an account and maintains a comprehensive history, makes it much easier to provide proof and support your case.
Debtor management software also makes it much easier to maintain strong relationships with your customers. It ensures professional and consistent communication with debtors, enhancing relationships and potentially improving future business dealings.
Additionally, the right debtor management software ensures compliance with regulations and standards, offering crucial documentation and support in case of legal disputes over unpaid debts—an area where standard automation software often falls short.
In summary, the right debtor management software streamlines the process of managing outstanding debt, enhancing efficiency, and reducing the risks associated with debt recovery, keeping the process legally compliant ultimately contributing to the financial health of a business or school.
When a business or school signs up for our software, an initial setup fee is required, after which we begin the setup process. Once the setup is complete, there is a 10-week onboarding program during which users gradually integrate the debtor management software into their daily routine.
All in all, it usually takes up to three months for users to become fully acquainted with the system and utilise its best features - all while receiving support from our customer success team.
Our contracts operate on a month-to-month basis. If at any point one of our clients feels the system isn’t meeting their needs, they can cancel by providing one calendar month’s notice. However, we always recommend completing the onboarding and using the system for at least three months before making a cancellation decision. To date, no business or school has cancelled early in the process.
Our software’s unique advantage is its built-in legal compliance, setting it apart from other debtor management solutions and resulting in very few cancellations.
It should be made clear that Jumping Fox Software is not a replacement for attorneys or debt collectors. Our solution automates debtor management and collection tasks, with the focus being on work efficiency with the built-in confidence that all actions comply with necessary legislation and requirements.
Debt collectors and attorneys focus on collecting outstanding debts. They contact debtors and try to arrange payment plans, with attorneys also proceeding with formal legal actions, such as summons and judgments, which come at additional costs.
Jumping Fox Software’s versatile debtor management system is designed for any business involved in collecting outstanding accounts or selling goods and services on credit.
It manages data specific to each business type and allows for workflow customisation.
For example, a homeowners association can create a workflow that aligns with its constitution, while a sectional title scheme can customise workflows according to relevant legislation. Similarly, rental workflows can be adjusted to match the contract terms between owners and tenants.
Overall, the system is fully customisable to support any business in effectively managing and collecting outstanding accounts.
2. System Setup
What do we need to complete the setup phase?
We require access to your master file (client information), detailed ledger, and age analysis. This can be shared via an API (Application Programming Interface) or through exporting and importing (excel spreadsheets) the data onto our debtor management system.
Our focus is to make the process as easy as possible for our users. If your financial software has an available API, we prioritise using it. If an API is not available, we build the necessary importers. Ultimately, we are committed to ensuring a seamless user experience, minimising the time and effort required to use our system.
The setup phase typically takes between 7 working days and 3 weeks, depending on the quality of the client's data, the availability of an API for the financial software system, and the development of the master file, detailed ledger, and age analysis importers if needed.
If Jumping Fox Software is already integrated with the financial software that you use, or has the necessary importers available, the setup process is much quicker. In this case, it primarily involves discussing and finalising the data, workflow steps, and setup rules.
Jumping Fox Software is integrated with multiple financial and other software systems, and we have developed importers where APIs are unavailable. Our APIs include Xero, TransUnion, Registered Communication, Edupac, Clickatell, VCCB Credit Bureau, Jonker Vorster Attorneys and more.
To run the system effectively, we need specific information, including account holder details, email addresses, mobile numbers, and employee details - all crucial for collecting outstanding debts. For schools, it’s important to have parent and learner details, as well as the parents' employment information, for collecting outstanding school fees.
The system uses either the age analysis or the detailed ledger to send correspondence to defaulting parties with the correct balances. Additionally, debit order payment dates and accounts with special arrangements are part of the setup process.
Our development team dedicates significant time to assessing the data and setting up the system to meet each client's unique needs. Customisation is a key feature of our system, ensuring it is tailored to suit your specific requirements.
Setting up a school's billing system can sometimes be more complex than other businesses due to the intricacies involved. Schools often deal with multiple billing scenarios,such as the processing of parent exemption credits, offering discounts for additional learners, and handling invoiced fees that are payable later or in instalments.
By comparison, business billing tends to be more straightforward, though it may include different client categories, such as standard and VIP clients. Generally, a business setup and workflow are simpler, with workflows sent out according to the debt's age analysis period. Jumping Fox Software also supports fully customisable workflows for businesses, ensuring that steps can be tailored to meet specific needs.
3. Onboarding & Training
Jumping Fox Software has built a strong reputation for offering exceptional support to its users and the debtor management community. Our support includes a comprehensive onboarding program and training sessions. By fully engaging with these resources, you'll quickly become proficient and able to manage outstanding debt independently like an expert.
The onboarding sessions are included in the once-off setup fee, and the training sessions are included in the monthly subscription fee.
Our team works diligently to ensure our users are comfortable with the system, enabling them to work independently and enjoy all the features we offer.
The better our users know the system and how it works, the more value they will get, the more time they will save, and ultimately, they will receive great value for their money - and increase their collection success rate.
During the onboarding program, we comprehensively cover all system features and functionalities. Sessions 1, 3, 5, 7, and 9 focus on workflows, specifically detailing the processes for exporting and importing data (in the absence of an API). These sessions include running workflows, verifying setup settings and account balances, and sending email and SMS notifications. Additional workflow activities include phone calls, listing notifications and listings with the credit bureau, legal notices, and electronic handovers to Jonker Vorster Attorneys, our panel attorneys.
The remaining sessions are dedicated to training on other system features, such as uploading arrangements, managing account categories, utilising the debt restructure tool, navigating the exemption module (for schools), and using the registered email functionality, among others.
Upon completion of the onboarding program, users gain significantly increased comfort and proficiency with the system. Session manuals, containing detailed information covered during the onboarding program, are also available in our system's knowledge base.
Our training sessions build on the topics covered during the onboarding program, offering more detailed insights as users become familiar with the system and start asking more in-depth questions.
We recommend that new users schedule at least one workflow session and one training session after completing the onboarding program.
4. Workflow Sessions
We know that selling any software solution to a business or school without guiding them through the significant changes experienced by their debtor management team, leads to a challenging transition. This ultimately results in underutilisation and dissatisfaction with the new system. To ensure a smooth adoption process and help users fully benefit from the system, we offer monthly workflow sessions to all our users.
Workflow sessions are included in the monthly subscription fee, at no additional costs.
As part of the onboarding program, we encourage new users to take advantage of workflow sessions until they feel comfortable using the system and managing tasks effortlessly.
Our top users typically schedule around 2 workflow sessions per year and may book a refresher course as needed to stay up-to-date with the latest system updates.
When users are new to the system, a workflow session may last between 45 minutes to an hour. Once users become more familiar with the system and book a session with the support team to review account balances before initiating tasks, the session typically takes 15 to 30 minutes. On average, most users run a single workflow per month, so the overall time spent on completing all tasks is generally around 30 minutes.
The more refined your setup and workflow steps are, the less time you'll need to spend reviewing your workflow actions.
Firstly, workflow sessions save you time by having our skilled support and customer success team guide you through the data import process (if the API is unavailable) and help you check your to-dos. This ensures that notifications are sent to the right people with accurate balances.
Secondly, the support team provides valuable suggestions to refine your workflow and optimise the system’s performance.
Overall, workflow sessions are designed to enhance efficiency and accuracy while encouraging greater engagement with the system. This can also help users earn a golden badge for completing value-adding actions each month.
5. Legal Compliance
We truly believe that involving legal experts in your team is far more effective for managing the complexities of legal compliance than attempting to cut costs and navigate it on your own, which often leads to greater financial losses. That's why we've included credit and education law experts as integral members of our team.
Ensuring legal compliance in debtor management and collections is crucial for maintaining fair, ethical, and lawful practices. Failure to adhere to prescribed rules and requirements can render your efforts futile, as courts will not entertain cases where procedures have not been properly followed.
For businesses and schools, following the required rules is in their best interest, as it saves both time and money—two of the most valuable commodities. Legal compliance ensures that all parties understand their positions, making the debtor management and collection process straightforward and cost-effective, and fostering trust among all involved.
Don't let your efforts go to waste. Partner with experts like Jumping Fox Software and Jonker Vorster Attorneys, who specialise in managing debtor accounts and streamlining internal processes through technology and automation. We can help you stay legally compliant while focusing on cost and time efficiency.
The founders of Jumping Fox Software are experienced legal practitioners who have been working with schools and debtor management teams across the country since 2002. Their daily interactions with courts have given them in-depth insight into what it takes to succeed at collections.
Their extensive knowledge has been built into our system, helping debtor management teams stay compliant.
Our System is also highly customisable. If any of our clients needs a custom workflow, our legal team is always available to assist and ensure it remains legally compliant.
If your debtor management and collections processes are not compliant, you may find yourself unable to collect debts. This is especially true if the account holder or parent refuses a payment plan or when legal action is necessary.
Courts are strict, and if legal compliance isn't met, the case won't be entertained.
Keeping your debtor management team compliant can be time-consuming and complex, which is why you need the right team and tools on your side. Jumping Fox Software and Jonker Vorster Attorneys have the skills and experience to make staying compliant both easy and achievable.