Terminology such as Machine Learning, RPA (Robotic Process Automation) and AI (Artificial Intelligence) are becoming more and more part of the language used within any organisation undergoing Digital Transformation. These are often touted as the solution to all of the problems you might face in a busy Credit Control department. We are honest about this…they are not.
We are conscious that it is always, without exception, a human being that will be using our products – as shown above, AI is only part of the solution to achieving great gains to your cash collection performance.
Our purpose built, highly configurable Cash Collection, Risk and Query Management system uses sophisticated automation and data analysis techniques to ensure that all risk is being treated in the correct manner, based on behavioural analysis and advanced rulesets that give you full control over your debtors. Identification of customers at risk can be treated either by the RPA workflow engine, or given to a human to decide on what happens next. Every event is then stored forever, to allow further analysis and decisions made based upon a customers’ previous behaviour – eliminating guesswork and ‘gut feeling’.
Just a handful of examples of Credica AI are:
- Alerts of Customers’ propensity to fail their promise-to-pay
- Analysis of Credit Scoring trends, and alerts for downwards trends
- Information regarding Customers’ typical behaviour to query invoices
- Credit limit warnings from internal or external sources of information
- DSO trending, and alerts for downwards trends
Primarily, our products are designed to be user-friendly. AI won’t get your work done for you, but it can empower your Credit Control to be more productive. They will always need a user friendly system for that productivity.
We believe that system is Credica. Contact us today and let us show you why.