Frequently asked questions

What is credit management?

Let's start with the basics: credit management is part of a financial administration and is generally known as the accounts receivable administration department of a company. Their goal is to limit and manage credit risks and optimise working capital, while also being responsible for handling customer data and maintaining (or improving) customer satisfaction. Credit management software helps the credit manager prioritise and streamline their work. The software can complete many of the daily tasks that credit managers now have to do manually. When you automate with a credit management solution, you instead have more time to focus on the more complex tasks with a higher priority. You can do a variety of tasks with credit management software, like debtor management, reporting, customer segmentation, credit scoring, payment processing and complaint management. Organisations can integrate specialised credit management software throughout the organisation and integrate it into their existing ERP.

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A customer payment is late. What can I do?

Late payments are problematic for small and large organisations alike. It has a direct impact on your Days Sales Outstanding (DSO) and cash flow. To make sure you get paid, it has to be as easy as possible for your customers to pay their bills on time. How exactly, you ask? Define the payment conditions in the invoice immediately, and reward customers who pay quickly. As soon as an unpaid invoice is late, contact your customer immediately. Using the right credit management tools to manage this and communicate to your customers gives you an optimal overview and necessary insights.

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