| Global billing outsourcing service launched |
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Irish based company TheoFinance has launched a global invoice management service to help Irish companies involved in foreign export reduce the time of payment for their goods and services.
TheoFinance has promised to shave up to 15 per cent off customer bills through the use of the system which links cutomers in Ireland international offices.
Managing director of TheoFinance Ireland Bo Nielsen said ‘The opportunity to outsource the billing cycle is a small step for any finance department, but the potential impact on an organisation’s global capability can be enormous.’
The TheoFinance model creates a global extranet connecting client finance departments to its locally based credit controllers in 30 offices internationally. The service allows local contacts to take over the entire billing process on the client’s behalf. Through reduced headcount, reduced credit insurance premiums, minimised bad debts and improved cash flow, TheoFinance expects it service to achieve average savings for clients of between 5 and 15 per cent.
TheoFinance founder and ceo Sebastien Bouvet said ‘the internet allows our 30 offices around the world to access a centrally based invoice management production system.’
Bouvet added that ‘the reality is, no matter how good your products, services or your own billing and collection processes, all businesses involved in international trade are exposed to the problems of working with different time zones, languages and cultures.’
The service will also operate an early alert system to advise customers of any potential credit problems quickly. |
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| Article appeared in the April 2001 issue.
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