CREDIT MANAGEMENT

Common issues with Credit Management

Generally across all countries, credit management is handled by the business units in a disparate way where most credit departments very much do their own thing with largely ineffective communication between Credit and Collections
Credit does not often ask the countries what to set credit limits at or what the payment performance of certain customers is. They might discover this data in reporting but by then it’s often too late
There is no workflow or ability to track requests for changes to risk codes, credit limits, payment terms. There is also no workflow to warn anyone if a customer or dealer are nearing their credit limit
Many processes are manual and all done through email

Credit scoring and financial analysis
Risk Management and scoring matrix
Workflow tracking of credit applications
Credit Portfolio so Credit Managers can manage their customers proactively across all ERPs
Approvals matrix
Credit Reporting
Best practice credit limit algorithm
Ability to set dynamic credit limit
Ability to set manual credit limit
Credit warning to warn collectors and credit managers when customers are about to reach their credit limits
Credit breach to warn collectors and credit managers when customers have exceeded their credit limits
Activity request for change of credit information to change credit data about customers
Credit limit approval
Credit assessment
Ability to generate letters to customers (examples below)
- Credit Limit Availability
- Unclaimed Funds Escheatment
- Credit – General Decline
- Credit – Denial per TransUnion
- Open to buy letter (strategy)
Credit hold and release – Value+ supports a bi-directional feed
Determine credit quality/manual and auto
Approval based on credit limit levels
Quick close statuses
Super parent credit scoring and limits
Archiving and credit document repository