Credit Management
How Does it work?
CVG Value+ has standard functionality to set credit limits and monitor credit performance. This can be based on:
- Days overdue
- Value
- External credit scores
- Internal average payment performance
- Sales variability
Benefits
- Approval workflow. This can be fully automated, sending out reminders to the next person in the workflow to review it and then passing forwards once authorisation has been attained.
- Data on credit exposure
- Dynamic workflows
- The ability to estimate credit levels and import estimated sales data to manage sales limits. This removes the need to just react to credit limits
Unique Functionality
Based on the achievement of a particular level of credit, say 80% of the credit limit or a credit breach, workflow tasks can be sent to internal parties to create, for example, a credit review for the credit manager, account manager or to prompt collection tasks to the collector. In addition, CVG Value+ may be used to send out emails or letters to the customer warning of the imminent credit breach or breach.
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“The most sophisticated Collections and Dispute Management System in the world”
Project Sponsor, Global Electronics Giant
Bridging the Gap
The tighter economic conditions have prompted businesses looking for competitive advantage with their customers to implement best practice software that integrates AR credit and collections with customer service management, as Dickie Bielenberg explains.
