Esker, a worldwide leader in AI-driven process automation solutions and pioneer in cloud computing, today announced the launch of its Credit Management solution to enable businesses worldwide to manage and optimize their credit-to-cash process. As a natural extension of Esker’s Accounts Receivable solution within Esker’s Order-to-Cash platform, Credit Management enriches Esker’s offer to help businesses secure the credit approval process, manage risks and make the credit management process smarter.
According to a recent report by Euler Hermes, corporate insolvencies are on the rise globally and expected to increase 20 percent to $3.5 billion in 2020, largely resulting from the COVID-19 pandemic. Today more than ever, organizations must thoroughly evaluate their credit risk and clearly understand to whom they’re selling on credit.
From the digitalization of credit applications and approval processes to monitoring of the existing customer portfolios, Esker provides credit managers with the required information to lower credit risks and secure their revenue.
Automated and secured online customer onboarding
With Esker, businesses can easily automate new customer onboarding and secure their credit approval process. Credit application templates can easily be customized according to customer profile or industry and sent via email or embedded in a website link. Credit managers can rely on a secured credit approval process through advanced workflow rules and monitor credit application status and tasks through a customizable dashboard.
Real-time credit risk management monitoring
Esker’s Credit Management solution helps credit managers anticipate existing customers’ credit risks by automating periodic credit reviews, creating alerts, and providing information on internal and external credit data. Additionally, Esker offers a 360-degree customer repository that includes all customer-related documents, credit and business information to make informed decisions and ensure that risky customers remain under control.
Credit scoring with leading credit bureaus
Esker is working with external credit bureaus for greater information sharing to fine-tune risk management processes, including Altares – Dun & Bradstreet on a global scale, CreditRiskMonitor® in North America and Ellisphere in France and Europe. Credit data is retrieved from the applicant’s credit bureau and displayed on the credit application form or customer profile. Information is readily available to credit managers when approving credit applications or reviewing customers’ credit situation thanks to seamless API integration.
“We are helping businesses secure their revenue through an optimized credit approval and risk monitoring process,” said Maud Berger, product manager at Esker. “As a result, customers’ credit risk stays under permanent control and businesses benefit from more efficient collaboration between sales and credit departments. 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’s Credit Management solution is currently available to customers and prospects in the U.S., France and Australia, and will be rolled out globally by the end of 2020.
Esker is a worldwide leader in AI-driven process automation software, helping financial and customer service departments digitally transform their procure-to-pay (P2P) and order-to-cash (O2C) cycles. Used by more than 6,000 companies worldwide, Esker’s solutions incorporate technologies like artificial intelligence (AI) to drive increased productivity, enhanced visibility, reduced fraud risk, and improved collaboration with customers, suppliers and internally. Esker operates in North America, Latin America, Europe and Asia Pacific with global headquarters in Lyon, France, and U.S. headquarters in Madison, Wisconsin. For more information on Esker and its solutions, visit www.esker.com. Follow Esker on Twitter @EskerInc and join the conversation on the Esker blog at blog.esker.com.