There is a significant amount of empirical evidence that supports the rationale of credit and collection management. This evidence comes from a variety of sources, including academic studies, industry surveys, and case studies.
Here are a few examples of this evidence:
- A study published in the Journal of Banking and Finance found that companies with strong credit and collection management practices have lower default rates and better financial performance than companies with weaker practices.
- A survey conducted by the National Federation of Independent Business (NFIB) found that the majority of small businesses view credit and collection management as an important aspect of their operations, and that the ability to manage credit and collections effectively is critical to their success.
- A case study published by the International Association of Commercial Collectors (IACC) describes how a small business was able to improve its cash flow and reduce its risk of bad debt by implementing an effective credit and collection management strategy.
In conclusion, there is a wealth of empirical evidence that supports the rationale of credit and collection management. This evidence shows that businesses that implement effective credit and collection management practices are likely to have lower default rates, better financial performance, and stronger relationships with their 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.