Introduction

Credit Management

HighRadius Credit Management replaces a paper intensive credit management process with an electronic one to enable better credit portfolio and risk management and to quickly onboard new customers. A cloud-based credit management solution available in Software-as-a-Service(SaaS) Model, Credit Management is easy and cost-effective to deploy and maintain.

Key features:

  • Configurable web-based application streamlines the distribution and receipt of new credit applications and eliminates incomplete customer submissions.

  • Credit data aggregation engine collects credit reports from leading agencies (D&B, Experian, etc.) and financial service portals (Google, Yahoo, etc.), eliminating the need to manually download information.

  • Information aggregation from insurance agencies for risk optimization.

  • Collaborative review workflow standardizes review processes and enables cross-departmental collaboration between sales, credit, and supporting teams via automatic application routing while providing a full audit trail.

  • Predictive Risk Scoring Model identifies “at-risk” customers to enable optimization of credit portfolio.

  • Role-based visibility and security limits access to sensitive information based on job requirements.

  • Searchable electronic repository stores credit files for easy retrieval.

  • Easy email approvals for credit limits.

Process Overview

HighRadius Credit Management automates the credit management process, enabling credit managers to make quicker and more accurate decisions. This is done with four primary components:

  • a configurable online credit application
  • data aggregation engine
  • collaborative workflow
  • electronic storage and retrieval

Moving applications online simplifies the distribution process and eliminates omitted or incorrectly entered customer data. Backup data and decision inputs are automatically gathered and made readily available to review with the application and during periodic reviews. A collaboration platform drives efficient approval hierarchies and customer/internal notifications about credit decisions. Finally, file cabinets full of paper are eliminated, making retrieval easier and storage less expensive. The result is faster customer onboarding, better internal collaboration, higher customer satisfaction, more targeted periodic reviews, and lower credit risk across the company’s customer portfolio.

The system application comprises:

  • Credit
    • Approvals
    • Worklist
    • Customers
    • Quick Saved Forms
    • Attachments
    • Correspondence
  • Exports
  • Administration Features

Architecture Diagram