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Credit management and monitoring. Send onlinecreditapplications to existing and potential customers to evaluate customer’s creditworthiness. Get alerts in real-time of which customers are going beyond a predetermined credit threshold and reduce your risk of bad debt.
This included a 100 percent increase in past due collected. For the full story, check out “ Power Collecting: Automation for Effective Asset Management ,” Piumelli and Schmidt (Wiley 1998), pages 11-14 & 129. During 1995, DSO was reduced by an additional 10 percent, and bad-debt write-offs cut in half.
This digitalization of creditapplications can accelerate credit management processes by customizing applications and setting required fields to complete creditapplications instantly and accurately. Conducting reference checks online instead of through paper applications.
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