James Weaver
James Weaver
Head of Marketing and Digital

Late payments are increasing. How does that affect your clients’ debtor health?Find out for free with Satago.

August 16, 2022 |

Since its launch in 2012, Satago has evolved an entire suite of tools specifically for accountants and bookkeepers to allow them to support their clients with their cash flow management.

Of all the tools developed for accounts and bookkeepers, the biggest impact tool is the Portfolio Overview.

Satago Portfolio Overview, what is it?

We created the Portfolio Overview so that trusted advisors can keep a watchful eye their clients’ debtor, keep tabs on how well those clients collect what they’re owed and monitor the levels of risks that their clients may (often unwittingly) be exposed to.

For every client connected to the Satago platform (connecting clients is free), advisors can see the following details at a glance:

  • Client Name
  • Client’s Industry
  • Weighted Average Days Overdue (WADO)
  • Value of Open Invoices
  • Number of Open Invoices
  • Value of Late Invoices
  • Number of late invoices
  • Percentage of customers who have not been matched
  • Total debt, segmented by age
  • Total debt, segmented risk levels

This table can be sorted by any of the text fields. After sorting the portfolio overview table, you can then click on each of the clients to reveal their risk insights page.

Going deeper into those insights

Satago users can see what the current credit score of the customer is, what their average days sales overdue are, and what the potential credit limit to offer them should be.

Combined with information from their accounting software, Satago can provide users with a dashboard with includes colour coded reports such as:

  • Total debtors, segmented by age
  • Total debtors segmented by risk levels
  • Total debtors segmented by age AND risk levels
  • Largest & Oldest Open Invoices
  • Customer Credit Score Summary
  • Industry Concentrations
  • Highest Risk Active Customers

For a single business these can provide invaluable insights and help the company to understand who owes them money, and how long they take to pay. It also allows them to identify clients that are low risk and good payers and those who represent higher risk and are worse payers.

For an advisor, these insights can generate another level of insights about the performance and health of the clients’ business. They can trigger a wide range of conversations a about the businesses performance and how they compare against the owners’ goals.

Getting Started with Satago and the Risk Insight Tool

To start drawing the data that feeds the Portfolio Overview tool, your first step is to connect your accounting package to the Satago platform. We currently support accounting packages from the likes of Sage, Xero, QuickBooks, Microsoft and more. You can see the list of accounting apps we connect to here: https://help.satago.com/en/articles/13226-what-accounting-software-does-satago-support

Once you have created the connection from your accounting software to your Satago account, it will start to pull your client data into the platform to help you manage your own debtors.

After matching as much of your client base as possible, your own Risk Insights dashboard will be populated with your own clients, showing you a complete risk overview for your practice.

You can then use the risk insights of your own practice, which is a great opportunity to get used to the reports with some real data. It’ll also allow you to identify and prioritise the risk clients who’re presenting the greatest risk to your practice. These could be good candidates for assistance with cashflow, if only to reduce your own risks!

Populating Your Portfolio Overview

To get clients to the point where you can really start helping them, you will need to add them to the Satago platform. As a Practice partner, any clients that you add to Satago will be added to the free plan and with reminders turned off – so there’s no downside to connecting large groups of clients.

You can connect clients one at a time by heading to Accounts, then Customers to see a list of the clients you’ve imported.

  1. Click the “Add Organisation” button next to the appropriate client. This will create a new subscription inside Satago.
  2. Next, you’ll need to connect this record to an accounting software product. Select the appropriate product to connect to and log in.
  3. Choose the accounting software record which matches to the client you selected in step 1.
  4. Click continue and wait for the import to complete.
  5. Once the import is complete, you’ll be shown the Taskboard for the client you’ve just added to Satago. From here you can check the setup of this client or or switch back to your practice using the Switch Organisation option in the sidebar.

For connections to Xero, Sage Business Cloud and Sage 50, you can also bulk upload clients.

To do this, follow the steps 1) and 2) above.

  1. When logged into your accounting software, select all of the clients you’d like to add, ensuring you don’t miss the client you picked in step 1. Hit Next.
  2. Satago will tell you which accounting software record will be matched against the subscription you created in step 1. Double check that is correct.
  3. Ensure the box which says “Also create new organisations for the remaining companies” is ticked.
  4. Click continue and wait for the import to complete.
  5. Once the import is complete, you’ll be shown the Taskboard for the client you selected in Step 1. From here you can check the setup of this client or switch back to your practice using the Switch Organisation option in the sidebar.

Once a client’s accounting software is connected to Satago, they will automatically appear on your Portfolio Overview. As they go through the client matching process, with auto-matching working for most of their clients, your portfolio overview will be updated, giving you greater insights and opportunity for them to work with you as a CCaaS provider.

Identifying Clients who need help

Once you have your clients connected to your practice through the Satago platform, and your portfolio overview has been populated with your clients, you can easily sort the table using any of these 3 columns:

  • Number of late invoices
  • Weighted average days overdue
  • Value of overdue invoices

By sorting by any of these columns (descending) you will be presented with clients who have the most to gain from some assistance with their credit control processes. Depending on the sorting column, and the client size, you will be able to determine which of your clients will see the fastest impact on their cashflow.

With ‘selling’ still being an uncomfortable activity for many accountants and bookkeepers – being able to proactively spot a problem and recommend a solution to exactly the clients who would benefit the most may be a much more comfortable approach.

The Portfolio Overview tool is a powerful way of opening conversations with your existing clients, offering proactive support and grow your practice.

To get started with the tool, either log into your Satago account, or if you are not currently registered on Satago, you can register here for a 2 week free trial.

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