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Credit management software helps you get your money in faster. It's as simple as that. You save on costs and can improve your cash flow. With this financial management tool, you can optimise your credit management and reduce your debtor risks. This way, your invoices are paid on time and you maintain cash flow.
Credit management software or also called debtor management software, is a management tool to streamline debtor management workflow. It enables you to manage issues. Actions are prepared automatically and are continuously in view.
The world around us changes at lightning speed and we receive more and more information that we also need to be able to process faster and faster. To consistently and carefully execute debtor management good software is indispensable. It allows you to automate where possible so you can focus on the debtors that require attention.
Receiving money faster from outstanding receivables is always good for your business. It means optimising your working capital. This involves making sure your DSO (Days Sales Outstanding, the number of days invoices are outstanding on average) is as low as possible. There are two sides to the game around working capital optimisation. On the one hand, you pay your creditors as late as possible and, on the other, you try to get your debtors' money in as quickly as possible. For the latter, credit management software is almost indispensable. Financial accounting systems almost always lack good credit management functionality.
We often see companies not using debtor management software, but instead performing their debtor management by downloading an Excel file and manually editing this file. As you can imagine, with more than 100 debtors, this quickly leads to clutter. Moreover, all actions have to be picked up manually, which increases the likelihood of tasks being forgotten. If several people work on the same Excel file, this further increases the risk of error.
Moreover, it is possible to extend the credit management software with the modules credit information and credit insurance. With credit information, you can instantly check the creditworthiness of prospects and customers. Also read more about what you can do to improve your optimise receivables management.
We know better than anyone how to optimise your credit management process. This is an important condition when designing and implementing credit management software. We negotiate the best conditions for you and guide you during implementation and during the lifetime of the software.
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Xolv BV is part of of the Ecclesia Group
