Credit control software

Credit control software is a perfect tool to optimise the financial management of your company. Your company’s financial situation comprises many elements, ranging from accounts receivable management to streamlining incoming and outgoing cash flows. Credit control solutions are available for this, such as credit control software that also minimises risks. The cash flow position can thus be improved and strengthened in many ways. In this wiki you’ll read how to do that.

What is credit control?

Credit control refers to the control and management of cash flow in operational and financial terms. For example, in order to strengthen a company’s cash flow, it is important that invoices are paid as quickly as possible. If open invoices are not controlled and followed up, your company’s cash position suffers. With an automated follow up of outstanding invoices, this risk is already eliminated. Proper credit control thus improves your company’s liquidity.

Automatic follow up of invoices

Credit control software makes it possible to follow up invoices automatically. For example, by consistently and automatically reminding a debtor of his or her outstanding invoices, you can save up to 80% of valuable time that you would otherwise spend tracking invoices yourself.

Improves payment behaviour

Constant communication with debtors thanks to automatic follow up improves payment behaviour. It is also possible for the debtor to enter into a dialogue at invoice level. In this way, you remain in control of the process and you continue to build on the customer relationship. Our accounts receivable management software ensures that the invoice remains in the debtor’s memory until it has been settled. It is also possible to initiate a payment arrangement from within the system. Moreover, outstanding invoices can be pre-financed as desired.

Payment methods

With the software of Payt, you can easily offer multiple payment methods. Your customers can easily pay their invoices through payment links such as QR codes, PayPal or direct debit. This makes it easier for the debtor to use his own preferred method of payment, resulting in a faster payment. 

Checking creditworthiness

Checking creditworthiness is possible with the use of the smart software. Via the dashboard, insight can be gained into the credit score of your customers. It is possible to use alerts. For example, at the moment that the credit score drops, which shows that the creditworthiness of a debtor is deteriorating. The creditworthiness of potential customers can also be checked in advance. 

Getting started with credit control software

Do you also want to get a grip on your company’s finances and save a lot of time in the process? Get to know our credit control software by requesting a demonstration immediately. You will be given 30 days free of charge to test the software. This will give you the opportunity to quickly gain insight into all the advantages that the credit control system has to offer.

Share this article

Schedule an online demo

Curious about the benefits of Payt for your organisation? Schedule your personal online demo with Alastair! You will receive an interactive demonstration of our platform for accounts receivable management, without any obligations.

Alastair Wallace Alastair Wallace