This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
We often talk about the importance of having an efficient and effective collection process and how, from a process improvement perspective, collectionsautomation provides substantial benefits. We don’t, however, want to minimize the importance of the credit side of the equation.
With the rapid advancement of digital technology, businesses can no longer afford the inefficiencies of slow creditapplications, validations, and approvals. Empowering the credit team with intelligent Order-to-Cash (OTC) digital solutions is essential. Conducting reference checks online instead of through paper applications.
Do not match unapplied credits with open deductions and debits unless there is documentation to relate them or you will be in violation of escheatment laws. Refresh the creditrisk ratings and credit limits of customers that have not been updated within the past two years. Update your customer master file.
For example, finance teams might apply it towards cash flow forecasting, creditrisk assessment and identifying the best investment opportunities. Many of its modules include autonomous elements, including: A/R Collections. Credit Management and Monitoring. Predictive analytics.
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content