As you would agree, finance and credit managers face immense pressure in delivering on top-management expectations for credit KPIs in the face of increasing bad-debt write-offs and other hidden A/R costs.
While proactive and real-time credit management is the key, finance teams struggle with managing high volumes of credit reviews, credit applications, and blocked orders.
Leading companies including TechData, Air Products, and Huntsman are using technology to effectively scale credit operations thereby reducing credit risk exposure and bad-debt.
HighRadius Credit Software automates the credit management process, enabling credit managers to make highly-accurate credit decisions 2X faster and enable faster customer onboarding with 4 primary components: configurable online credit application, customizable credit scoring engines, credit agency data aggregation engine, and collaborative credit management workflow. Along with that, there are a lot of key features that should definitely be explored some of which are online credit application, credit information aggregation, automated credit scoring & risk assessment, credit management workflows, approval workflows, and automated bank & trade reference checks. The result is faster customer onboarding, better internal collaboration, higher customer satisfaction, more targeted periodic reviews, and lower credit risk across the company’s customer portfolio.