BUSINESS CREDIT APPLICATIONS AND ACCOUNT CREDIT SCORING

Lockstep Collect Business Credit Management helps manage the credit application process using accurate and timely information and built-in automation so you can create and review business credit applications, understand who to extend credit to, how much credit to extend, and monitor existing customers with periodic credit reviews and account credit scores.

NACM TRADE CREDIT REPORTS

Lockstep Collect offers embedded integration with the NACM Trade Credit Report. Credit reports can be viewed online from within the software and store the report. Credit reports are stored as PDF attachments in the customer’s account folder, details from the report are stored as notes against the account, and credit data is captured and stored in various fields throughout the application.

This data can be used to create custom credit scoring algorithms combined with our own internal data and setup alerts to monitor customers based on credit scores and generate reports for customers who are due for periodic credit reviews. Reporting accounts receivable back to NACM is automatic but you can flag accounts that you want to exclude from reporting for various reasons.

BUSINESS CREDIT APPLICATIONS

Create business credit applications in Microsoft Word and deliver them to customers and prospects for completion. Credit applications may be received back via email or uploaded from the secure customer portal. Completed forms create notifications for your credit team so they can review credit applications and setup credit terms, credit limits, and other details for new customers in your accounting or ERP business software. Business and bank references can also be maintained using Word documents and stored in the account’s documents folder for credit reference activities.

CREDIT REVIEWS

Identify the date of the last customer credit review and build alerts so that the system notifies you when customers require a follow-up review of their business credit.

BUSINESS CREDIT SCORING

Track credit scores from up to three external credit bureaus and file full credit reports in account documents folder. Custom credit score formulas can be configured using external credit bureau information, your own internal data, or a combination of the two. You can classify accounts based on credit risk with color-coding to alert you to high risk accounts.