1000s of trade and B2B credit managers leave money on the table by not doing business with SMBs because of the higher risk perception and unavailability of credit data.
However, according to the small business credit survey conducted by the 12 regional Federal Reserve Banks, 50% of small businesses reported to be profitable and at least 70% expect revenue growth.
So how could credit management teams onboard more SMBs without increasing exposure to receivables risk?
In the upcoming webinar, join Creditsafe and HighRadius as we discuss how the latest innovations in credit data aggregation initiatives and technology such as artificial intelligence could alleviate small business credit risk and unlock opportunities for revenue growth while not hurting profitability.
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.