There is evidence that credit and collection software can help companies optimize their working capital and improve cash flow.
One study found that companies that use credit and collection software report lower levels of overdue invoices, which can improve cash flow and reduce the risk of bad debt. The study also found that credit and collection software can help companies manage their credit risk more effectively, by providing tools for analyzing customer creditworthiness and setting credit limits.
Another study found that credit and collection software can help companies reduce the time it takes to collect payment from customers, which can improve cash flow and reduce the risk of bad debt. The study also found that credit and collection software can help companies improve their relationships with customers by providing tools for communication and dispute resolution.
Overall, the empirical evidence suggests that credit and collection software can be an effective tool for optimizing working capital and improving cash flow for companies. It can help companies manage their credit risk more effectively, reduce the time it takes to collect payment from customers, and improve relationships with customers..
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.