With credit management software, you digitise and automate your accounts receivable management. You get paid faster, reduce the risk of non-payment and keep a constant eye on your cash flow. Discover the benefits, costs and possibilities of this software for your organisation.
Credit management software, also known as accounts receivable management software, is a management tool that helps streamline the workflow of accounts receivable management. It provides insight into outstanding invoices, customer creditworthiness and enables you to respond to issues in a targeted way. Actions are prepared automatically and remain continuously visible.
The world is changing rapidly and the amount of information continues to increase. To stay careful and consistent, you can use credit management software to automate laborious and error-prone tasks. This allows you to focus on the customers that deserve extra attention, while the software helps you collect outstanding receivables faster. Here is a brief overview of some benefits of credit management software:
Read how to make money with credit management software.
It is essential for healthy operations and stronger working capital that invoices are outstanding for a short time. Whereas you want to delay payments to creditors as long as possible, you want to receive payments from debtors as soon as possible. Credit management software offers a solution here, where traditional accounting systems often fall short.
Many companies still use Excel for their accounts receivable management. However, this is error-prone and quickly becomes cluttered, especially with a large number of debtors. Manual actions are time-consuming. They also increase the chance that important tasks are forgotten. Credit management software structures your processes. So you can rely on accurate and effective credit management.
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Moreover, it is possible to extend the credit management software with the modules credit information and credit insurance. With credit information, you can instantly check the creditworthiness of prospects and customers. Also read more about what you can do to improve your optimise receivables management. In short, whether you are a growing SME or an international player, credit management software makes you work more efficiently, get a better overview and reduce risk.
Credit management is the process from customer acceptance to payment. It includes assessing credit risks, managing outstanding invoices and preventing defaults. Good credit management strengthens your cash flow and reduces financial risks.
Credit management software automates and streamlines your accounts receivable management. It gives you real-time insight into outstanding invoices, monitors customers' creditworthiness and supports timely payment follow-up. Think automatic reminders, risk signalling and reports that help you make faster decisions.
Credit management software automates your accounts receivable management, making time-consuming manual tasks a thing of the past. The software automatically sends reminders and closely monitors payments. This leaves more time for other important things in your business, while the software ensures a consistent and efficient process. This reduces the likelihood of missed or delayed payments and allows you to respond faster to your customers' anomalous payment behaviour.
A healthy cash flow is essential for any business. Credit management software helps you receive payments faster, improving your cash flow and making your business financially stronger. Thanks to shorter lead times for outstanding invoices (Days Sales Outstanding, or DSO) and automatically sent payment reminders, you reduce the risk of late payments. This strengthens your financial position, reduces dependence on external financing, and creates room for growth and development.
Yes, with the reports and data from credit management software such as PolisManager you have real-time insight into your customers' payment behaviour. You have up-to-date information on credit limits and can easily identify inactive customers. By adjusting credit limits based on your own payment experiences, you proactively optimise your credit management. This not only results in cost savings, but also in more effective risk management. So you always maintain a clear overview of your debtors and the risks within your customer portfolio.
DSO stands for Days Sales Outstanding: the average number of days an invoice is outstanding before it is paid by the customer. A low DSO means customers pay quickly, which is positive for your liquidity.
We know better than anyone how to optimise your credit management process. This is an important condition when designing and implementing credit management software. We negotiate the best conditions for you and guide you in the implementation of the credit management software, also during the term.
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