Automated credit limit setting and real-time risk monitoring, enable finance teams to proactively manage credit exposure and reduce the risk of bad debts.
Trade credit limit setting is a critical aspect of managing accounts receivable and cash flow.
Without standardized practices for evaluating a customer’s creditworthiness, finance teams may either extend too much credit, leading to increased risk, or too little, stifling business growth opportunities.
Manual processes to review credit applications and monitor customer payment behavior are time-consuming.
Changes in a customer’s financial health or payment behavior are not always caught in real-time, leading to missed opportunities to adjust credit limits and prevent bad debts
Streamline credit management processes by aggregating customer records with data from credit agencies, financial records, and payment history. Automated real-time analysis ensures a rapid response to emerging bad debts and highlights any opportunities to increase credit lines for customers that are consistent good payers.