With credit management software, you’ll have your money coming in faster. It’s as simple as that, and you will also save on costs and improve your cash flow. This financial management tool can optimize your accounts receivable management and reduce your accounts receivable risks. This way, your invoices will be paid on time, and you will ensure that your cash flow is maintained.
The world around us is changing at lightning speed, and we are receiving more and more information which we must then be able to process more quickly. Good software is indispensable for consistent and careful credit management, and it enables you to automate where possible so that you can focus on the debtors that require attention.
Credit management software (also called accounts receivable management software) is a management tool to streamline the accounts receivable control workflow. It enables you to focus on concerns. Actions are automatically prepared and are continuously in focus.
Receiving money from outstanding receivables faster is always good for your business. It means optimizing your working capital. It’s all about making sure your DSO (Days Sales Outstanding, the number of days invoices are open on average) is as low as possible. There are two sides to the game around working capital optimization. On the one hand, you pay your creditors as late as possible, and on the other, you try to get the money from your debtors as quickly as possible. For the latter, credit management software is almost indispensable. Financial accounting systems almost always lack good credit management functionality.
We often see companies conducting accounts receivable management by downloading an excel file and editing it. You can imagine that with more than 100 debtors, this leads to clutter. Moreover, you have to perform all actions manually, and there is a good chance that tasks are forgotten. Working in an excel file with several people increases the risk of errors even more.
Read our articles on credit management software here.
In addition, it is possible to enhance the credit management software with the modules credit information and credit insurance. With credit information, you can immediately check the credit rating of prospects and customers. Read more about what you can do to optimize your accounts receivable management with our products.
We know better than anyone how to optimize your debtor management process. This is an essential condition when setting up and implementing credit management software. We negotiate the best conditions for you and support you during implementation and throughout the duration of the contract.
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