Development of an Automated Credit Management and Collections Platform

Businesses often encounter issues such as delayed payments, manual processing errors, and inefficient cash flow management, which hinder liquidity and operational efficiency. Current manual workflows lead to delays, inaccuracies, and suboptimal decision-making due to limited real-time insights.

A mid-sized financial services firm specializing in credit management, invoice processing, and debt recovery seeking to automate and optimize its workflows.

• Automate the distribution of invoices across multiple channels to ensure timely delivery.
• Implement an efficient debt collection process to facilitate prompt recovery with multi-step escalation.
• Create a flexible receivable management system for invoice generation, payment reminders, and reconciliation.
• Provide real-time monitoring, reporting, and data-driven insights to inform decision-making.
• Enhance security, scalability, and system reliability to support increased transaction volumes.

• Automated multi-channel invoice distribution via email, digital postal services, SMS, and direct channels.
• Configurable debt collection workflows with multi-step escalation including notices and legal follow-up.
• Account receivable management with invoice generation, payment reminders, allocations, and adjustments for discrepancies.
• Real-time data dashboards and reporting tools for monitoring cash flow, overdue accounts, and collection effectiveness.
• Robust security features, including data encryption, role-based access, and compliance with security standards.

• Communication channels for electronic invoicing and notifications (e.g., eFaktura, AvtaleGiro, Digipost, Kivra, SMS).
• Payment processing systems for payment reconciliation.
• Legal and compliance systems for escalation and legal actions.
• Data analytics and reporting tools.

• High system availability (24/7) with minimal downtime.
• Ability to handle increasing transaction volumes with scalable architecture.
• Performance capable of processing transactions in real time with low latency.
• Stringent data security and compliance with industry standards.
• Customizable workflows to adapt to different client needs.

The implementation of the automated credit management platform aims to reduce manual processing errors, shorten credit and collection cycles, and improve cash flow. Anticipated outcomes include faster invoice delivery, higher collection rates, and improved operational visibility, leading to a more efficient and cost-effective financial workflow.