What Is Credit Management Software?
The best credit risk management tools helps automate your credit application process to increase customer approvals and ensure more orders can be placed for your company’s goods and services. This is handled by:
- Identifying customers
- Determining their creditworthiness
- Monitoring their payment history through to the final payment of the invoice
High-quality credit decisions will lead to a healthy increase in company revenues while reducing receivables risk.
Credit management can be a process found within credit risk tools. This is due to the similarities they offer within the systems, which include payment reminders, setting up customer profiles, creating to-do lists, and establishing payment arrangements. If your business has ever provided a good or service to a customer and let them pay at a different date, you’ve effectively extended credit to a customer, with the expectation that they will be paying you the amount in full (plus potential interest) at a later date.
Collections and Portfolio Management / Recovery Accounting Software
Delinquency Management Our delinquency management software maximizes the effectiveness of associates at banks, credit unions, auto dealers, finance companies, and financial institutions of all sizes. It provides tools for managing compliance with industry, regulatory, and corporate standards. Our delinquency management software will help you improve collection rates and minimize delinquency rates. You’ll be able to make informed decisions with our reports and key measurements.
Latitude by Genesys
The Latitude by Genesys collections solution has comprehensive debt collection and recovery capabilities for managing all pre- and post-charge-off accounts and workflow processes. It provides collectors and managers with the tools to manage the debt collection and recovery process. Extending credit to consumers, debt collections, and collections and recovery on delinquent or charge-off accounts are all complex functions. And outdated solutions or those not designed for such complexities are less efficient. These gaps in functionality put pressure on agents who are trying to meet their goals while adding the challenges of inventory management and, ultimately, lowering recovery rates.
Managing corporate accounts can be a pain to manage: credit approval, identity verification, offline invoicing and order consolidation, payment reminders and collections. In short, an Accounts Receivable nightmare. Apruve gives online merchants a turnkey corporate account management service to enable their customers to check out from their store without paying. Instead, they can consolidate multiple monthly orders for end of month invoicing – all automated by Apruve. Merchants manage user accounts, permissions and limits right from their Apruve dashboard. All payment reminders and collections are handled by Apruve as well. Apruve streamlines B2B eCommerce in the way PayPal made B2C eCommerce easier for merchants and consumers.
Credit Insights by ezyCollect
All businesses rely on cash flow and want to be paid by their clients. Businesses struggle at times with managing payments from their Clients. Wouldn’t it be great to be able to get some quick and easy Credit Insights for your debtors ? Managing payments and doing Client Credit Checks takes time and effort. There is now an easier way. Credit Insights is a newly launched debtor management tool that has just been released as part of the ezyCollect Platform. It automates the processes and procedures that are normally manual and time consuming. Credit Insights, a new module of the ezyCollect platform, offers an integrated service that provides the credit risk factor of current and new clients based on multiple analytics and metrics from data derived from multiple data agencies.
Analyze your performance in one click for each level of your organization (group, subsidiary, customer portfolio and identify the areas of performance and action plans needed. Visualize in one click: actual and due outstandings, sales, DSO, aged balance, impact of litigation, top 20 customers late. Collaborate more effectively with other departments with always up-to-date reporting
Augmented Cash from Sidetrade
Sidetrade helps small, medium and large enterprises in B2B markets collect cash faster, solve customer disputes quicker and reduce bad debts and credit risk – while improving control, automation and oversight of your cash collection process. Ultimately it delivers strong ROI and helps you optimize working capital. Sidetrade has a 20-year track record, 2500 customers in > 80 countries, and is the leading provider of Cash Collection software worldwide.
Axe Credit Portal
Billfire Valet is the ideal accounts receivable automation solution that delivers unsurpassed convenience and simplicity to the B2B payment experience. Valet’s invaluable tools result in improved collections, mitigated risk, increased employee productivity, and enhanced customer relationships.
Bottomline eCollect is an easy-to-use Direct Debit management solution, which allows organisations to easily collect Direct Debits on time, every time in full compliance with scheme rules and best practices.
Specifically designed for UK businesses that are looking for a simple, modular, and reliable payments and collections solution, ePay offers industry-leading performance at an affordable price, without compromising on functionality or security. It ensures your money gets to the right place, at the right time, in the most cost-effective way. It simplifies and automates back office processes, minimising manual input and resource time. ePay easily integrates with all mainstream accounting, payroll, and ERP packages, collecting payment information in the first instance and reconciliation after processing.
Our web-based software helps businesses get overdue accounts receivable paid faster and improve their cash flow using smart escalating reminders, settlement negotiations and manageable payment plans. Debtor counter offers and disputes are also facilitated for you while payment integrations ensure payments are made directly into your merchant account.
Chargeflow seeks to be the world’s leading solution in fighting illegitimate chargebacks on behalf of merchants, using technology to automate the process and advanced algorithms to increase merchant profit and remove the hassle of chargebacks mitigation. Chargeflow creates a hands-off experience for merchants and enables them to focus on building their brand while improving their overall success rates to the highest in the industry.
Improve your collection practice and grow your collection business with Collect! credit and debt collection software. Collect! includes the options, flexibility, automations, add-ons and integrations to set up your workflow the way you want. With cloud and premise deployments and editions ranging from Lite to Enterprise, Collect! has the package that will allow you to move to larger editions with all your data and customizations. Collect! is the flagship product of Comtech Systems, founded in 1988. Collect! is used by thousands of operators around the world daily for manage their accounts receivables and collection activities. While Collect! was built for collection agencies and debt buyers, it also provides the sophisticated functionalities required by first party collections and pre-collections.
It gives you personalized advice and recommendations on what you need to do to get paid. It also contacts your customer asking them to pay, by email and SMS, using pre-written templates. There are 8 different templates in total for you to choose from (only 1 in the Lite version), each proven to work.
CoreCOLLECT is an intuitive, browser-based user interface reducing training time and speeding collectors’ time to productivity. This functionality, coupled with the application’s embedded security, enables lenders to provide third party collection agencies located in distant locations and time zones access to all cases assigned to them.
Credgenics provides SaaS based collections platform integrated with legal workflow. We work with financial institutions, Banks, NBFCs & Digital lending firms to improve their collections efficiency using technology, automation intelligence and optimal legal routes in order to expedite the recovery of bad loans. We help our clients increase their overall recovery rate and simultaneously reduce their collection costs. Our collection platform delivers customised strategies which helps creditors efficiently improve their NPA, geographic reach and customer experience.