Streamline your credit application process through pre-built templates organized by industry or region, customizable to meet your unique requirements. It enables document uploads, trade reference management and job-level credit applications, efficiently gathering prospect information
Fasten your credit evalutaion process with pre-built and configurable credit risk scoring algorithms, receive real-time risk alerts and automate decisioning for low-risk customers. With customer hierarchy management, efficiently manage credit risk for Parent and Child realted customers
Optimize your credit decisioning using intelligent algorithms to prioritize customers based on blocked orders, new customer onboarding, risk alert types, periodic reviews and collateral expiry. Also, enables multi-level approval workflows enhancing credit-decision making
Automate your credit report gathering from 35+ agencies, tailoring to regional and industry preferences. Extract granular data points for credit scoring algorithms and monitor risk alerts in real-time from agencies, leading to more accurate risk assessments
Gain deeper insights by automating financial statement extraction from 15+ public sources and prospects' uploads . Data extraction captures key data pounts and derived financial ratios , providing inputs to credit scoring model for more informed credit decisions
Make more accurate credit decion-making by automating credit report gathering from 10+ trade associations across various industries. It extracts granular data such as historical aging and credit limit utilization, shared anonymously by other members of the association, providing input to credit scoring model
Reduce your order delays by predicting upcoming blocked orders and their likelihood based on historical data. The system recommends order release decisions using various parameters and employs an auto-routing algorithm for efficient approval hierarchy
Streamline your credit application decision-making where prospects can upload collaterals and securities like Letters if Credit and Bank Guarantees. The credit scoring model ensures credit risk aligns with provided collateral value, and the system proactively reviews accounts based on collateral expiry
Automate your insurance maintenance for high-risk and high-revenue accounts with prebuilt integration with insurance agencies like Coface and Euler Hermes, allowing you to obtain insurance coverage against commercial debt for specific customers
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A Credit Management Solution is designed to help businesses manage their credit processes effectively. It automates the assessment of customer creditworthiness, monitors credit limits, and manages collections. This solution integrates with accounting and ERP systems to provide a comprehensive view of a company’s credit-related activities.
By using a Credit Management Solution, businesses can streamline credit approvals, reduce the risk of bad debts, and improve cash flow. The software typically includes features such as credit scoring, risk assessment, automated reminders for overdue payments, and reporting tools for monitoring credit performance. This ensures a more efficient and accurate management of credit-related tasks, enhancing overall financial health.
A Credit Management Solution works by automating and streamlining the credit management process. It helps assess the creditworthiness of potential customers using credit scoring models and financial data analysis, resulting in faster onboarding. The solution tracks outstanding invoices and sends automated reminders for overdue payments.
When an order is placed, it checks the customer’s credit status and approves or flags it for review. It also provides real-time reports and dashboards to monitor credit risk and performance. Integration with ERP and accounting systems ensures accurate data flow and comprehensive financial management. This automation reduces manual tasks, minimizes errors, and helps businesses maintain healthy cash flow by efficiently managing credit risk and collections.
A good Credit Risk Management Software should offer robust features for assessing and managing credit risk. It should include credit scoring models, financial data analysis, and real-time monitoring of credit limits and exposures. It is integrated with existing ERP and accounting systems for seamless data flow.
The Credit Risk Platform should provide automated alerts and reminders for overdue payments, helping to improve collections and reduce bad debts. User-friendly dashboards, reporting tools, and credit agency integrations are essential for tracking credit performance and making informed decisions. Security features to protect sensitive financial data and compliance with industry regulations are also important.
We are an ERP agnostic software that integrates with any and all of the ERPs like SAP, Microsoft Dynamics 365, Oracle, Netsuite, etc.
We collate the payment history of your customer and combine this with the data gathered from credit agencies to come up with a risk category as well as a credit limit.
Project timeline depends on the complexity of the scope. Its generally between 8-16 weeks
HighRadius is an autonomous order to cash management that integrates with your SAP and helps you automate all your financial processes – credit risk monitoring, collections, invoices, deductions, cash application, and more. While bureaus just help you with financial information and reports, HighRadius helps you use that information to predict customer behaviour, suggest immediate action, analyze productivity and keep your collections team in sync with the credit team.
We will be able to handle most of the IT related efforts during the implementation. All we need the IT is for getting us the open AR extract and the bank payment file. This will be usually around a week worth of efforts spread across the implementation time frame.
Security is of paramount importance to each of our customers as it is to us. We are SSAE16 Soc I Type II certified, PCI-DSS Compliant, GDPR compliant and CSA Registered. We strictly follow all Industry standards and best practices.
Typically our pricing has two components the one time setup fees and a monthly recurring subscription fee. You can get on a call with us and get a customized pricing according to your business needs.
Online credit application for onboarding new customers, pre-configured credit scoring models to auto-calculate the credit score, risk class, and credit limit and approval workflow for authorizing changes to credit limit are the top three benefits of using a automated credit management software.
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We have seen financial services costs decline by $2.5M while the volume, quality, and productivity increase.
Colleen Zdrojewski
Trusted By 800+ Global Businesses
