This week, we take a look at episode 3 of the topic on the impact of technology on credit managers:
- Episode 3 – APIs, vectors of collaboration
In order to monitor customer risk and make the right decisions, credit managers need to ensure that their data repository and risk scores are as up-to-date as possible. To this end, he or she must constantly enrich this repository with value-added data from internal sources (particularly sales teams) and external sources (credit insurers, corporate information companies, etc.). Its information system must therefore be able to interface with various other tools such as, for example, its organization’s CRM and/or ERP software, as well as the platforms of its external partners. These connections are made possible by APIs (Application Programming Interfaces) or Web Services. These connectors enable external sources to be queried and customer information to be updated.
By leveraging these technologies, the Credit Manager improves his risk categorization and dunning strategies. As a result, they can be more proactive in their decision-making, while at the same time increasing the security of their risks.
APIs also enable Credit Managers to feed sales information systems (CRM) with data on customer creditworthiness, amounts overdue, invoices in dispute, and so on. In this way, they help internal teams to collaborate, exchange information and, ultimately, better secure risk and optimize the Order To Cash cycle.
Next week, you can read episode 4, which will bring this topic to a close:
