There are several ways that credit and collection management software can be used to optimize debtor exposure for a company:
- Set up credit limits: Credit and collection management software can be used to set up credit limits for individual customers or groups of customers. This can help to minimize the risk of bad debt and ensure that the company is not overexposed to any particular customer.
- Monitor credit risk: The software can be used to monitor the credit risk of individual customers, alerting the company if there are any changes in the customer's creditworthiness that could impact their ability to pay.
- Manage accounts receivable: The software can be used to manage accounts receivable, including tracking the status of invoices and following up on overdue payments. This can help to minimize the risk of bad debt and ensure that the company is paid in a timely manner.
- Automate payment reminders: The software can be used to automate payment reminders, helping to ensure that customers are reminded to pay their invoices on time.
- Analyze credit and collection data: The software can be used to analyze credit and collection data, providing insights into trends and patterns that can help the company to optimize its credit and collection processes.
- By implementing these strategies, companies can optimize their debtor exposure and minimize the risk of bad debt.
Qube Credit & Collection Management Added Value
PRI® CrediSoft is a proprietary receivables credit platform supporting credit management processes supported by Qube Servicing. The platform manages and integrates collection workflows and tasks:
- On a daily basis as wells as intraday PRI® CrediSoft manages, controls and monitors all collection tasks defined as part of credit management:
- Main workflow;
- Subflows such as Promise to pay, and Disputes;
- Receivables portfolio performance via Dashboard functionality;
- Administration, Debtor and Receivables information accessed via Agenda and/or Debtor section, and detailed information generated in the Reports section;
- Supports debtor communication as well as (internal) client communication by mail, multi languages, as part of the collection workflow tasks, incl. logging as part of tasks performed;
- Enables access to specific Debtor, including Receivables, workflows to third parties such as credit insurers, credit collection agencies and/or bailiffs providing when required;
- And supports Voice over IP.
PRI® CrediSoft has been developed based on experience by Qube Servicing with market offerings and with the objective to enhance user friendly and efficiency of the credit management application supporting the collection process.
Compared with the market the service and functionality offered by PRI® CrediSoft proofs to be excellent and evidenced by demo on request.