Credit management software enables you to digitise and automate your accounts receivable management. It gives you an overview of outstanding invoices, customers’ payment behaviour and the actions that need to be taken. Actions are set up automatically and outstanding invoices can be monitored automatically.
Xolv negotiates the terms on your behalf and supports you with the implementation of the software and throughout its lifetime. This means you benefit from:
Credit management software, also known as accounts receivable management software, is a management tool that helps to streamline your accounts receivable workflow. The software provides insight into outstanding invoices and customers’ payment behaviour. Actions are automatically set up and remain visible at all times.
Many companies use an Excel file for their accounts receivable management. When there are more than a hundred customers, this can become difficult to manage. Furthermore, when tasks are carried out manually by several staff members, the risk of errors and overlooked tasks increases.
Credit management software helps to organise these processes and automate tasks wherever possible. This allows you to focus on debtors who require personal attention.
The credit management software can be expanded with the following modules credit information and PolisManager. Credit information gives you an insight into the creditworthiness of prospects and customers. With PolisManager, you can manage, amongst other things, credit limits and cover details within your credit insurance policy.
The world is changing rapidly and the volume of information continues to grow. To ensure accuracy and consistency, you can use credit management software to automate labour-intensive and error-prone tasks. This allows you to focus on the customers who deserve extra attention, whilst the software helps you collect outstanding debts more quickly. The key benefits at a glance:
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.
Would you like to continue managing your accounts receivable in-house and automate routine tasks? If so, credit management software can support your staff.
Would you like to improve your existing processes and systems? Then take a look at the options for your optimise receivables management.
Would you like to transfer the implementation on a temporary or permanent basis? If so, read more about outsource debtor management.
Would you like to manage your credit insurance policy specifically? Xolv offers this service PolisManager.
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.
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.
Credit management software provides an overview of outstanding invoices and customers’ payment behaviour. To obtain further information on the creditworthiness of prospects and customers, the software can be enhanced with credit reports.
PolisManager has a different function. This solution provides up-to-date information on credit limits and cover for debtors under your credit insurance policy.
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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