Business Credit Management
Digital Credit Management & Risk Optimization
The Business Credit Management (BCM) feature empowers Credit Kollect clients to digitally govern their entire commercial credit lifecycle. Recognizing that a significant volume of B2B transactions are conducted on credit—posing a direct risk of eventual default—BCM serves as a proactive measure to minimize repayment probability gaps, covering both monetary payment and material delivery obligations.
BCM is the comprehensive digital solution for the initiation, formal acknowledgement, and rigorous tracking of credit transactions between suppliers and buyers.
Operational Workflow (How It Works)
Credit Kollect achieves seamless integration by linking directly with the customer’s existing accounting software (e.g., Tally, Marg, ERP). This integration automates critical functions:
- Pre-Default Management: The system automatically sends formal acknowledgements and scheduled payment reminders to the buyer before and after the due date. It rigorously manages follow-ups for late payments.
- Post-Default Action: Upon confirmed default or significant payment delay, the supplier can seamlessly report the defaulting entity on our PAN-India platform . This action immediately impacts the defaulter's national credit score and reduces their market credibility.
Key Features of Business Credit Management:
BCM provides our clients with advanced, automated functionalities:
- Auto-Acceptance: Automatic acceptance mechanism between supplier and buyer.
- Invoice Sharing: Automated sharing of invoices for instant record keeping.
- Payment Reminders: Automated reminders issued before and after the payment due date.
- Defaulter Reporting: Hassle-free, immediate defaulter reporting supported by digital acknowledgement.
- Credit Impact: Decreases the defaulter's credit score and credibility across the PAN-India platform.
Strategic Benefits of Digital Credit Management:
BCM delivers quantifiable business advantages:
- Automation: Automated notifications eliminate the need for dedicated manpower in follow-up tasks.
- Compliance: Digital acknowledgement creates verifiable records for all transactions.
- Professionalism: Ensures a consistent and professional approach to credit communications.
- Centralized Monitoring: Consolidates and monitors all credit transactions within a single, unified platform.
- Efficiency: Facilitates easier settlements and significantly saves cost and time .
- GrowthEnables the expansion of business operations with reduced financial risk.