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185 Nicole Dwyer The Accounts Receivable Team That Asks, "What’s the Customer Story" Wins
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185 Nicole Dwyer The Accounts Receivable Team That Asks, "What’s the Customer Story" Wins

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I bet you’ve never connected the dots that accounts receivable is a business process that is so tightly connected with customer success. I don’t think I’ve ever thought about that. Sure, we know that collecting money on invoices is important, and we know cash flow is what makes our companies run and what makes the payroll happen. But don’t most of us think that invoices just go about and customers mostly just pay them? 

Be honest. 

I promise, after you listen to this discussion with YayPay chief product officer, Nicole Dwyer, you will have a new appreciation for the  link accounts receivable has with customers and a new way of thinking about how you work with your customers in whatever business process your software addresses. 

Let’s just talk about one example that we talked about with Nicole and one of her customers. 

Accounts receivable is not just about looking at a receivables aging reporting and asking, “Why is this customer 3 days late on paying this invoice?” 

That’s a transaction question. And prompts the company to reactively  send a reminder. 

Nicole wants us to understand that this is not a transaction. There’s a story behind that late payment, and we have to find out what it is so we can help. 

Pause.

Can you imagine an accounts receivables team thinking that way? What’s the customer story and how can we help? Wow. This is how YayPay helps its customers think. This is what Nicole’s customer is telling her. That when they started thinking about why payments are late and how can they help, they discovered (for example) that a customer is opening up a new store and order more inventory, and frankly, their focus is on that, so they let some invoices slip. 

Nicole’s customer says to Nicole (I’m paraphrasing), “If we know this, we can ask, “If we know the story of our customer's expansion, we can be proactive, and work with the customer to help them."

Accounts receivable as customer success? 

Indeed. 

More about Nicole:

  1. On Linkedin

  2. One of Nicole’s blog posts that will blog you away. It’s called, How Smarter AR Can Fix Customer Churn for Your SaaS Business? See what I mean?

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Helping Sells Radio
Helping Sells Radio
Helping Sells Radio is the enterprise software podcast for people who want to help customers achieve outcomes with software. We talk to technology professionals who work all over the customer journey, from marketing and sales to customer success and professional services, to unpack innovative ways people are taking a helpful approach with customers. Brought to you by ServiceRocket Media.