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.” The Role of Credit in a Commercial Enterprise If you grant credit to your business customers, it is also imperative that credit, collections, and AR management issues be addressed. Creditmanagement takes center stage when: New customers apply for credit terms. There are invoicedisputes.
Having an effective creditmanagement function is vital to any business in maintaining and improving cash flow, as well as reducing a business’ risk to bad debt. Sales and credit control in particular should work closely together as these are the two-main customer facing roles.
The trick is to identify disputes early so resolution is found quickly, and ensuring that you are still paid on time. The Order to Cash Process. Continually ensuring the smooth running of your order to cash process is vital to dispute resolution in business. What can be disputed?
A solution like TreviPay, can combine payment automation with creditmanagement and B2B financing to complete order-to-cash automation. B2B financing solutions address common challenges in B2B transactions, such as long payment cycles, cash flow constraints, and the need for working capital.
From an accounts receivable (AR) perspective, digitization began accelerating in the late eighties with the introduction of tools that could help with financial analysis followed by collection, deduction management, and remittance processing software in the nineties. Your Virtual CreditManager is a reader-supported publication.
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