As outlined above, credit management is the lifeblood of all businesses. The function continues to increase in importance within a company?s management hierarchy. More and more companies are undertaking a value judgment by comparing the potential risk of non-payment (client insolvency) versus additional sales volume ? an elusive balance that can be struck only through an efficient credit management system. Innovative new technology solutions extend the use of credit risk management across the enterprise through a cloud-based technology platform. Cloud-based solutions offer the benefits of reliability, mobility, and scalability while eliminating IT, data infrastructure, and upgrade costs. These solutions enable dynamic credit management workflows and process improvements that result in not only lower risk, but improved response times reduced costs and better customer service. With the help of technology, companies reduce the risk of error, standardize a set of consistent practices, and enable tremendous improvements in the flow of information. It makes credit functions more agile and streamlined, supports critical processes of credit scoring and credit reviews, and helps the business adopt a forward-looking, proactive approach to risk management.