Using credit and collection management software can provide several benefits for businesses that offer their customers the option of purchasing goods or services on credit. Some of the key advantages of using this type of software include:
- Improved efficiency: Credit and collection management software can automate many of the tasks involved in managing credit and collection activities, such as tracking customer payments and sending out reminders for overdue invoices. This can help businesses save time and reduce the need for manual intervention, allowing them to focus on other aspects of the business.
- Enhanced accuracy: By using credit and collection management software, businesses can reduce the risk of errors and inconsistencies in their credit and collection processes. The software can provide a centralized, up-to-date view of customer credit information and payment history, helping businesses make more informed decisions about extending credit and following up on overdue invoices.
- Better risk management: Credit and collection management software can help businesses manage their exposure to the risk of bad debt. The software can provide tools for evaluating the creditworthiness of customers, setting appropriate credit limits, and monitoring customer payment behavior. This can help businesses reduce their risk of financial losses from customers failing to pay their bills.
- Enhanced customer relationships: By using credit and collection management software, businesses can provide their customers with more transparent and convenient ways to manage their accounts and make payments. This can help improve customer satisfaction and enhance the overall customer experience.
In conclusion, using credit and collection management software can provide businesses with a range of benefits, including improved efficiency, enhanced accuracy, better risk management, and enhanced customer relationships. These benefits can help businesses achieve better financial performance and succeed in today's competitive business environment.
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.