Have you ever given a thought to how an automated credit management system can increase productivity and efficiency of your company as a whole? A good start in making strides in credit management automation is through the creation of unique scoring models. Join Nik as he gives a step by step guide on developing a scoring model.
These seven steps must be incorporated into any automated remittance algorithm to ensure remittance details captured from both the lockbox and other electronic payment channels are matched correctly to the receivables database.
Which approach do you prefer when it comes to your credit and collection activities- Qualitative or Quantitative? Without the proper tools to manage a whole portfolio of accounts, credit analysts and collectors tend to work one account at a time without seeing the bigger picture. Read along to discover the right approach to increase the efficiency of credit and collections operations.