Process automation and cloud computing firm Esker has announced its new Credit Management solution to aid companies in getting the most out of their credit-to-cash processes, manage risks and make the credit approval process more efficient overall, according to a press release.
A report from Euler Hermes outlines the risks companies have with credit in this time due to the coronavirus pandemic. According to the report, corporate insolvencies will only continue increasing, and companies need to be careful who they’re selling credit to.
Esker’s new service will help by adding clarity to the process, automating the onboarding process and adding customizable templates on the Esker dashboard for companies to make their own way going forward. Companies will be able to monitor credit application statuses and tasks through the dashboard, the release says.
The tool will also look at risks by automatic periodic credit reviews, creating alerts and providing information on both internal and external credit data. The company also helps inform decisions by providing customer documents, credit and business information to help risky customers remain under control, the release says.
Esker is also partnering with other credit management bureaus in order to better share information about risk. The company has partnered with Altares – Dun & Bradstreet for worldwide matters, North America’s CreditRiskMonitor, and Ellisphere for dealings in France and Europe, the release says.
Esker Product Manager Maud Berger said the process would aid businesses in gaining information to avoid risk.
“As a result, customers’ credit risk stays under permanent control, and businesses benefit from more efficient collaboration between sales and credit departments,” Berger said, according to the release. “Our AI-based technology will help our customers make the best credit decisions and enhance their entire credit-to-cash process, insure revenue, and increase sales.”
Esker has also partnered recently with management solutions company Cegid in order to provide accounts payable (AP) automation.