Business Integrity in O2C: Looking Beyond Customer Credit Risks
Published within the NACM's "Business Credit Magazine", June 2018
Holistic Approach: How to Protect Yourself from Risks in Your Accounts Receivable
Credit managers traditionally deal with the credit risk their business is exposed to by gathering information from internal and external sources, such as credit rating agencies, to determine credit scores and set appropriate credit limits. However, in an increasingly globalized business environment, companies are not only faced with payment behaviors and credit risks that differ tremendously between countries and regions, they also need to be alert to compliance risks, antifraud and anticorruption.
End-to-End Automation: Utilize High-Tech Solutions to Avoid Entry Points for Risk
Without automation it is almost impossible to implement and enforce all of the measures to help reduce your vulnerability to AR-related problems. There is no doubt that automating manual processes in the order-to-cash cycle with modern technologies at hand is vital to increase security, prevent human errors and add transparency, quality and speed to your processes, and to increase your overall business integrity.
In general, digitization will change the way credit managers and accounts receivable experts operate and interact with customers and organize internal processes.
Download our free whitepaper "Ensuring Business Integrity in Your O2C Processes" which was published within the NACM's "Business Credit Magazine", June 2018
The Serrala Team