DATA COCKPIT FOR CREDIT AND RECEIVABLES MANAGERS

CHALLENGES OF CREDIT AND RECEIVABLE MANAGERS

Credit and receivables managers have to assess the risk of supplier credit on a daily basis. In addition to internal data sources, external data from credit bureaus and credit insurers are also queried for this purpose. It is not uncommon for different application forms to have to be filled out for the external portals. The workload for credit applications can thus easily amount to several hours per week.

A similar scenario applies in the area of receivables management. Selecting and transferring relevant invoices from the ERP system to the dunning system often requires a lot of manual effort. The monitoring and updating of payment behaviour along the dunning process up to the transfer to external service providers, such as debt collection companies, can also amount to several hours per week if there are several tools or if they are complicated to use. If the collection agencies send back different evaluation formats, an objective overview is again only possible with a lot of work.

REDUCING THE WORKLOAD

Collenda software solutions facilitate the work of credit and collection managers. Through suitable interfaces, data from connected internal and external tools can be pulled and processed quickly. The software is the central contact point for all portals, so that, for example, different application forms are a thing of the past. The effort required is reduced from several hours to a few minutes per week.

Even the most diverse systems and data formats are no problem. Our software solutions bring the data into a uniform format so that they are objectively comparable. The operation of the solutions is intuitive and the flexible customisation allows each user to aggregate required data individually for themselves – the data basis remains the same for everyone. Another positive effect of this central data point of contact is that the history of each customer is preserved.

FULLY CONNECTIVITY – INTERNAL AND EXTERNAL

Collenda software solutions offer uncomplicated access to data from external service providers via numerous integrated interfaces. Users do not have to manually log in to each portal. They can do all their work from the “data cockpit” without leaving it. The queries can also be controlled by predefined processes. The retrieved data can be imported into the respective functions within the software, e.g. for processing in scorecards or analyses and reporting. The available data diversity enables faster decisions and ultimately proactive action to secure the company’s liquidity.