iX ERP empowers businesses to mastering credit risk and control by implementing a robust credit system for both customers and suppliers. This sophisticated system provides real-time insights into available credit limits, enabling proactive decision-making and minimizing financial exposure.
Key Features:
- Customer Credit Limits:
- Define specific credit limits for each customer, tailoring the credit extension to their individual risk profiles and payment histories.
- Receive instant alerts and warnings when customer orders exceed their assigned credit limits.
- Configure automated actions, such as restricting invoice processing, to prevent exceeding credit limits.
- Supplier Credit Limits:
- Monitor available credit with each supplier to ensure timely payments and maintain healthy supplier relationships.
- Gain visibility into outstanding liabilities and potential cash flow constraints.
- Real-time Credit Availability:
- Access real-time information on available credit limits during order entry, purchase order creation, and invoice processing.
- Make informed decisions about order fulfilment and payment schedules.
- Clear Visual Cues:
- Easily identify potential credit issues with clear visual cues, such as negative credit limits displayed in red within the order and invoice screens.
- Proactively address potential risks and take corrective actions.
Benefits of the iX ERP Credit System:
- Reduced Risk of Bad Debt: Proactive credit monitoring minimizes the risk of customers defaulting on payments, safeguarding your company’s financial health.
- Improved Cash Flow: By managing credit effectively, you can optimise cash flow by ensuring timely customer payments and minimizing outstanding receivables.
- Enhanced Customer Relationships: Maintain strong customer relationships by offering flexible credit terms while mitigating potential risks.
- Streamlined Operations: Automate credit checks and approval processes, streamlining order processing and reducing manual intervention.
- Data-Driven Decisions: Leverage real-time data and insights to make informed decisions about credit extensions and payment terms.
By leveraging the powerful credit system within iX ERP, businesses will be able to mastering control over their financial operations, improve cash flow, and minimize the risk of bad debt. This robust system empowers businesses to make informed decisions, build stronger customer relationships, and achieve sustainable growth.