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Good credit management supports consistent cash flow, smooth payment collections, customer satisfaction, and much else. It matters even more for companies working in the business-to-business (B2B) space. At its core, credit management is the caretaking of a company’s financial health. What is B2Bcredit management?
For B2B businesses, credit management is essential for accounts receivable (AR) management success. Proper, healthy credit management allows for steady cash flow, better collections management and a manageable dayssalesoutstanding (DSO). . External and Supporting Data .
Most recently that meant talking with a group of leaders in the B2Bcredit industry as part of NACM South Central’s annual “Day at the Races” event in Louisville, KY. How can AI help decrease DSO (DaysSalesOutstanding)?
The massive influx of data from various sources around the globe – and do to so with fewer employees, especially in the B2Bcredit world – has made it imperative for companies to adopt AI to analyze and act upon this information efficiently.
This technological advancement represents a significant departure from the manual, relationship-based credit assessments of the past, offering a more efficient and inclusive financial landscape.
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