| Credit Pro is a software application that is designated to improve the collection process and the management of credit risks in small and medium sized businesses (SMB marketplace).
The two major capabilities of the software are:
1.Collection process management throughout the organization –
i.e., manage all the points of contact with the customer during
the collection process, from the issuance of the invoice (or a bill for approval if relevant in project oriented companies), through the different reminders / follow-ups / alerts / collections letters, until:
- Collection is accomplished (issuance of a receipt);
- The customer is credited for the invoice, or;
- Legal actions are taken in order to collect the debt;
The collection module includes a flexible alerts/reminders wizard and automatic mailing/faxing options.
The major advantages of the Credit Pro collection system include:
- Hermetic control of the collection process and the status of the different open invoices;
- Integration of collection activities as a continuous, core process in the organization;
- Significant improvement of collection and reduction of bad debts;
- Reduction of the overall credit risk, through tight control of the A/R that allows early identification of a potential credit exposure (default event) from one or more customer.
2. Credit risk management – quantification of the credit status of each customer, early detection of potential credit exposures from one or more customers and dynamic management of the customer’s credit limits (Max. Commitment).
These capabilities are achieved through a ''light'', intuitive, internal credit scoring application, which determines the customers' credit rating according to a combination of internal data and external data/alerts from one of the credit data suppliers. The dynamic management of the credit limit (which includes alerts, automatic updates. etc.) is based on the customer's ongoing performance/credit scoring and its correlation with the portfolio (relative exposure from the portfolio perspective).
The software is offered either as an extension of the AGR CF Line cash flow management software for SAP Business users, or on a stand alone basis.
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