What is credit management software and how does it improve your cash flow?

Credit management software

With credit management software you receive your money faster. It's that simple. You save on costs and can improve your cash flow. With this financial management tool you can optimize your accounts receivable management and reduce your accounts receivable risks. This way, your invoices are paid on time and you maintain your cash flow.

Credit management software: receive your money faster

The world around us is changing rapidly and we are receiving more and more information that we must be able to process more and more quickly. Good software is indispensable to carry out accounts receivable management consistently and carefully. It allows you to automate where possible so that you can focus on the debtors that require attention.

What is credit management software?

Credit management software (also known as accounts receivable management software) is a management tool to streamline the accounts receivable management workflow. It enables you to manage issues. Actions are automatically prepared and are continuously visible.

Receive money faster with working capital optimization

Receiving money from outstanding receivables faster is always good for your business. It means optimizing your working capital. The point is that your DSO (Days Sales Outstanding, the number of days that the invoices are open on average) is as low as possible. The game surrounding working capital optimization consists of two sides. On the one hand, you pay your creditors as late as possible and on the other hand, you try to receive the money from your debtors as quickly as possible. For the latter, credit management software is almost indispensable. Financial accounting systems almost always lack proper credit management functionality.

How is accounts receivable management often done?

All too often we see that companies manage their accounts receivable by downloading an Excel file and editing this file. You can imagine that this leads to confusion with more than 100 debtors. In addition, you must perform all actions manually where there is a good chance that tasks will be forgotten. Working on such an Excel file with several people increases the risk of errors even more.

Read our articles about credit management software here.

Features of credit management software

Moreover, it is possible to expand the credit management software with the modules credit information en credit insurance. With credit information you can immediately check the creditworthiness of prospects and customers. Also read more about what you can do to improve your... optimize debtor management

Added value Xolv

We know better than anyone how to optimize your debtor management process. This is an important condition when setting up and implementing credit management software. We negotiate the best conditions for you and guide you through the implementation and during the term.