Gain confidence in your underwriting with built-in global cash flow analysis, real-time benchmarks, and dynamic narrative analysis. Leverage centrally-stored borrower data like credit scores and debt information to spread financials automatically, calculate ratios, and stop using spreadsheets.
The narrative report Abrigo provides in its output also helps with consistency and provides time savings on my credit presentations. See it today. Enhance the loan underwriting process by seamlessly integrating optional leading technology from Abrigo into Credit Analysis. Whether your bank or credit union seeks efficient, specialized analysis for ag lending or wants to further eliminate data entry , Abrigo has you covered.
A common underwriting headache is keying in data accurately. Abrigo offers the Sageworks Electronic Tax Return Reader ETRR , a patented technology to import information from electronically produced tax returns in under a minute, eliminating lenders' data entry entirely. Is farm lending a key part of your financial's institution portfolio? Save time and better serve your customers through improved communication tools embedded in more advanced accounts receivable management systems.
Account receivable management software can automate invoice delivery to customers, alert you to problems with invoices such as missing purchase orders, and provides everything you need in one centralized location so you can serve your customers better, wasting less of their time, and improving your relationship so they will buy more products and services down the road.
Are you still mailing statements and invoices or sending them via fax? Why pay someone to print, fold, and stuff envelopes when you can probably automate those communications for most, if not all, of your customers. Further, what will you save in paper, toner, envelopes, postage, and lost time in this antiquated process.
When a distributor or manufacturer makes a sale they incur hard costs for the inventory and labor required to fulfill the order. When a service organization secures approval for a new project they allocate expensive resources to provide the service.
The key to a successful business is the ability to get paid as soon as possible on the products or services they provide. You rely on your accounting system to create the sales order and the invoice, but then your accounts receivable software takes over.
How much credit should you h2to customers? Every company that extends credit is taking a calculated risk of getting paid on perishable time or inventory. But there are ways to reduce your risks.
Follow in real time your accounts receivable The DSO reports, aging balance, risk, dispute, turnover, They allow to monitore your performance and to implement improvement action plans. Analyze your customers' payment behavior Learn about the actual average payment time of each of your customers as well as many other key performance indicators. Use this information in your credit analyzes and in trade negotiations to get paid quicker by your business partners.
Pilot your credit risk Manage your credit limits and credit insurance policies. Perform and detail your credit analyzes on the basis of additional information from financial information providers and indicators such as payer profiles included in My DSO Manager. Perform personalized scoring, and manage your risk thanks to alerts, risk agenda and risk report. Create your own collection scenarios Use standard scenarios present in the tool, or create them and customize them according to the type of your customers.
Create dynamically your collection documents emails, letters, fax and SMS while keeping the ability to customize them for each customer with the use of Hashtag.
Read more. Organize your work with the collection agenda The agenda includes all collection actions to do generated by the collection scenario or the collector. We think of credit management as the entire process from customer acceptance to the final payment of the invoice. Also called Order-to-Cash. As a whole this a fairly complex set of items in which you will touch multiple departments of the business and must work together with a large group of stakeholders, both internal and external.
This is a lot and to manage that you need appropriate software. Financial systems and ERP applications like Unit4, SAP and Exact all have specific areas in which they excel and credit management is usually not one of them. It requires specific software that excels in areas like workflows, communication and calculating scores.
We will address a number of functional areas to identify how the right software can turn credit management into an integrated process. Here are six reasons why specialized software is better than Excel and Outlook or better said: indispensable. And this is just a small part of all the benefits. You might recognize running a batch of reminders from the financial system and checking them one by one to see if they can actually be sent.
With credit management software, that entire process is just a few clicks, or it runs each day automatically in the background. The software takes care of the reminders for invoices and customers, so that people can focus on the exceptions. Credit management software allows you to create customer profiles such as key accounts, high risk, new and more.
It facilitates a separate dunning profile with a matching tone of voice. The software knows what needs to be done for each customer and invoice. It takes action itself or adds tasks to a to do list so that people know what to do. Credit management software allows you to record and track payment arrangements. The system sends a confirmation of the payment arrangement to the customer and monitors whether the agreed installments are paid on time.
That way you only have to pay attention to the exceptions. Or sometimes even better, the software deals with that too. You can read more about this in our post about payment arrangements and credit management software.
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