In an insightful interview with SafetyDetectives, Bertrand Mazuir, Director and Co-Founder at My DSO Manager, delves into the inception and impact of his revolutionary credit management platform. With a deep-rooted passion for credit management and a keen interest in IT and digital solutions, Mazuir shares how his journey began in the scenic French Alps of Meylan and evolved into a mission to transform the industry through technology. My DSO Manager, co-founded with Thomas Pequet, emerged from a desire to inject high-tech efficiency into traditional credit management practices. This platform distinguishes itself by offering seamless integration with various systems and empowering credit managers with real-time data and analytics, facilitating rapid and informed decision-making across global markets. With over 1500 clients in 85 countries, the platform’s success is a testament to its effectiveness and the trust it garners from its users. Mazuir’s narrative not only highlights the challenges of the industry but also showcases the innovative solutions his team has developed to tackle them.
Can you introduce yourself and then talk about what motivated the creation of My DSO Manager – what was the vision behind it?
I’ve been in the credit management industry for around two decades; I’ve been smitten with this profession since day one. I started by carving out my own little corner on the internet, a website called creditmanagement-tools.com, where I geeked out over everything from collection to credit risk management and late payment penalties. But alongside my enthusiasm for this job, there was always this nagging curiosity about IT and digital tools. So, I pondered, how can we jazz up the credit management game with some high-tech wizardry?! That’s where the vision for our platform was born. My team-mate Thomas Pequet (CTO of My DSO Manager) and I embarked on this journey back in 2015, fueled by our shared passion and a healthy dose of Alpine inspiration from our mountainous French abode in Meylan!
What industry challenges does My DSO Manager address, and how does it differentiate itself from competitors?
The credit management world isn’t exactly a leisurely stroll in the park; it’s more like a marathon through a bustling marketplace. Businesses face myriad challenges, most importantly time constraints and the need for seamless integration across systems and departments. Our platform swoops in like a caped crusader to tackle these challenges head-on. It’s like the Swiss Army knife of credit management solutions, seamlessly integrating with diverse systems, ERPs, multi-currencies, multi-languages, and multi-time zones while offering plenty of functionalities in our field.
With real-time access to data, automated processes, and comprehensive analytics, it empowers credit managers to collaborate with unlimited internal and external stakeholders and make lightning-fast decisions.
We prioritize expertise and cultivate relationships with our platform users; that’s why one of our most significant achievements is our organic growth without employing any commercial efforts so far. With over 1500 clients across 85 countries joining us through word-of-mouth referrals, it speaks volumes about the trust and satisfaction our clients have in our platform.
Furthermore, we are proud of our agility and efficiency in implementation, mirroring the precision and swiftness of the Alpine approach to operations. We seamlessly integrate for companies managing fifteen or more entities with diverse ERPs and credit management systems worldwide in just one month on average, with no lengthy project timelines. This swift turnaround ensures minimal disruption to our clients’ operations, allowing them to reap the benefits of our platform without delay.
And just like the Alpine landscape adapts to the changing seasons, our platform bends and flexes to meet the ever-evolving needs of our clients. With unmatched flexibility and customization capabilities, we tailor our solution to fit like a perfectly crafted hiking boot, ensuring a snug fit for every credit team’s requirements.
My DSO Manager is not just another player in the field; it’s the go-to solution for businesses seeking efficiency and reliability in credit management.
How do businesses typically approach credit management, and what are the potential pitfalls of these approaches?
Businesses typically approach credit management with a pragmatic outlook, understanding that, regardless of their size or industry, effective cash collection is essential for survival in today’s competitive landscape. However, historical limitations in data access and companies’ communication channels often prolong decision-making processes, hindering the efficiency of credit management practices.
With the advent of new technologies, there’s growing optimism surrounding the future role of credit managers. By leveraging technology effectively, businesses can streamline processes for credit managers, enhance data accessibility for them, and improve their decision-making efficiency through real-time analysis of the KPIs.
Yet, the potential pitfall lies in the failure to adapt to these technological advancements swiftly. Without embracing the right and appropriate modern tools and practices, businesses risk falling behind competitors, facing increased challenges in cash collection, and ultimately jeopardizing KPIs.
How does predictive analytics help businesses anticipate and address cash flow challenges before they escalate?
By centralizing data and unifying it on one platform, businesses can analyze the payment history and commitments of their clients, enabling them to tailor operations based on client behavior. When you have each client’s payment profile and behavior, you can also predict the cash flow, allowing for more accurate forecasting and strategic planning. This can also include setting up alerts and assessing credit risks more effectively. Moreover, integration with financial information providers and insurers enables businesses to monitor client credit limits and risks in real time, facilitating proactive cash risk management.
In your experience, what are some common pain points businesses face in managing their cash flow effectively?
The most critical challenge often lies in the absence of appropriate tools. Accessing timely and relevant information and effectively engaging with stakeholders can be a daunting task across various industries. However, the significant consequences of data mismanagement magnify these challenges in credit management. Spending excessive time on repetitive tasks further compounds the issue, limiting credit managers’ capacity to delve into the analytical aspects of their role and cultivate meaningful relationships with internal and external stakeholders. This not only hampers operational efficiency but also jeopardizes client relationships and incurs additional costs. Therefore, addressing these pain points is paramount for businesses striving to manage their cash flow effectively and sustainably.
What advice would you give to businesses looking to improve their accounts receivable processes and overall financial health?
I would advise taking advantage of digitization to implement the best credit management practices using the right tools. Indeed, there are only benefits that can be derived from doing so: increased efficiency, financial gains, and heightened customer satisfaction. However, it’s crucial to understand that success lies in the synergy between advanced tools and skilled users.
While powerful software solutions like My DSO Manager can handle a lot autonomously, human interaction remains pivotal in effective accounts receivable management. Furthermore, adopt a broad perspective and be open to innovative possibilities.
Digital tools redefine the game and challenge traditional concepts or thinking. Embrace this shift, and be open to rethinking your beliefs!