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After the Credit Application: Getting to Know Your Customers Even Better

Your Virtual Credit Manager

(Photo by Markus Spiske on Unsplash ) When there are time constraints that forestall additional research, denying credit or requiring collateral or some other security is the best way to avoid a decision that results in delinquency and a potential bad debt loss.

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How Are Your Customers Doing?

Your Virtual Credit Manager

We don’t, however, want to minimize the importance of the credit side of the equation. As discussed in a recent post , gathering customer information doesn’t stop with the credit application. You put your firm at risk by limiting credit assessments to only new customers, which is too often the case.

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Revolutionize Your Credit Application Process: A Compelling Case for Digital Transformation

Credit Research Foundation

Transforming your credit application process through digitization not only enhances credit extension capabilities but also significantly elevates the overall customer experience. Evaluating Your Current Processes: To begin, take a critical look at your existing credit application processes.

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Due Diligence Doesn't End with the Credit Application

Your Virtual Credit Manager

Learn More About YVCM Consulting Case Study: Portfolio Monitoring Pays Off Big-Time About 25 years ago, a credit manager I know saved his company from a seven-figure bad debt loss by monitoring the Internet on his biggest customers. request for substantially more credit, change in leadership, merger or acquisitions, etc.).

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Top 10 Strategies for Reducing Days Sales Outstanding (DSO)

Your Virtual Credit Manager

While automating things like remittance processing, credit application processing, and portfolio monitoring and analysis will help you improve DSO, there are two types of automation solutions that are proven to significantly improve cash flow. This leads to quicker payments and improved cash flow.

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A Focus on Collections & Credit Fraud

Your Virtual Credit Manager

Bust-Out Schemes : Criminals establish fake businesses, submit fraudulent credit applications, make small payments to build trust, then divert large orders and dissappear, turning receivables into bad debts. Preventing email comprpomise requires verification of changes (payment details, shipping address, etc.)

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Introducing: Cash Application, Credit Application Management, Integrated AI and Much More

Gaviti

Contact your customer success manager or email us at info@gaviti.com Join our webinar on Sep 13th to learn more about the new Cash Application module >> Credit Application Management: Empowering Risk Management and Visibility Avoid high risk customers from the start and monitor ongoing risk as they build a relationship with you.