Why credit management software?
Why should you start working with credit management software? As mentioned, for companies with more than 100 customers, software is actually indispensable. We want to be able to process more and more information faster and faster. We want to monitor open invoices and actions automatically and segment debtors. If necessary, we want to be able to trigger additional actions based on customer characteristics. In addition, it is nice if letters can be batch processed, printed and sent, actions and notes recorded and payment schedules correctly registered and monitored.
What does it deliver?
The benefits of good credit management software, appropriate to your organisation, are legion. By simply linking data, you can see at a glance the outstanding balance at a parent company and its underlying subsidiaries. You easily calculate credit limits and risk scores yourself based on your own data. Segmenting relationships based on self-defined parameters and the associated desired risks becomes possible. As does managing and controlling the workflow of disputes. This leads to faster resolution and payment.
Summary
Credit management software provides:
- better structure and efficiency in receivables management
- reduced labour costs through automated workflow
- easily taking over work in the absence of the credit controller
- faster payment and reduction of risks
- increase in cash flow
Xolv is a full-service provider of credit insurance, working capital finance and receivables management. We know better than anyone how to optimise the debtor process. And that is an important prerequisite when designing and implementing the software.
