Our new integration with Creditsafe will help you better manage your customer credit limits
Managing customer credit limits can be a cumbersome process, however, it is a vital procedure to ensure you don’t take on bad debts. This post will explain how our new integration with Creditsafe will take away much of the heavy lifting when making sure your customers are credit worthy.
How Creditsafe helps you
If you give customers payment terms that extend into the future such as 30 days, rather than cash with order, you are providing your customers with a line of credit. A side effect of this is that you are taking on the risk of incurring bad debts on your ledger.
Before selling products to customers, therefore, it is good practice to check their credit scores with an impartial agency such as Creditsafe.
Credit scores provided by Creditsafe allow you to see host of information such as
Credit Scores & Credit Limits
Directors & Shareholders
Key risk Indicators (CCJs, Late payments)
These indicators are always changing and Creditsafe constantly monitors companies and keeps you up to date with the financial performance of a company. Providing your team with the information they need to make an informed decision on whether they should/should not extend lines of credit or take cash with order instead.
How does integrating with Interprise help?
Interprise has credit limit functionality as standard. You can manually input credit limits for each customer in their record on Interprise.
Credit limits come into action when a customer has placed orders for items and the value breaches the pre-determined threshold. Once they reach/go over their credit limit, all orders will have to be signed off by a credit controller or those who manage the credit limits in your business.
Our integration with Creditsafe goes one step further. As Creditsafe is continuously monitoring the financial standing of businesses, their scores will change daily, weekly & monthly. As credit score/limit changes take place, customer credit limits in Interprise will change too.
What are the benefits of this integration?
Be confident in your debtors ledger
Use Creditsafe’s trusted methodology for measuring creditworthiness
Reduce Human Error
Automation of data input means your team can’t make mistakes
No more manual credit searches and looking for records on credit safe
Extra layer of protection
No need to micro-manage credit limits. Let the integration do the work for you.
Your staff might be too busy to monitor credit scores & credit limits manually, this integration puts you ahead of the curve with meaningful credit data that can reduce your exposure to taking on bad debt.