“We’ve always done it this way…” A common enough refrain in many industries, and it is certainly true when it comes to the credit management function. But it’s time for credit managers to take a much more coordinated approach in the business, shifting focus from ensuring correct payment to driving profitability of the entire company. A major roadblock in this transition are the low-value repetitive tasks like reviewing credit-worthiness of customers, deciding credit limits, handling blocked orders which often consume most of their bandwidth leaving them with no time to focus on high-value strategic tasks.
Join Bill Weiss, VP Business Development – Credit & Collections, HighRadius in this webinar where he explains how AI is transforming the credit management process from speeding up the customer on-boarding process to predicting blocked orders along with best practices to help you as a manager and become a change leader in your credit department.
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.