Applications to open trade credit accounts have traditionally been processed manually using hard copy application forms, generally, completed by hand as illustrated.
The process is time consuming, inefficient and frustrating for both the applicant and the recipient with processing staff having, amongst other hurdles, illegible handwriting, incomplete or unsigned forms and missing support documents to contend with.
The Solution is Crediible
You can streamline your credit application receipt, assessment, decisioning and approval processes and better manage your customer acquisition function using our automated platform with Access Crediible.
Crediible is an end to end solution that automates the entire credit application process from potential customer application receipt and entity verification to credit reporting and decisioning all from one dashboard and control grid. Crediible is designed to help you process and approve credit applications much faster thereby improving credit risk, saving you time, improving workflow efficiency and enhancing your customer experience.
How It Works
The process is simple. Potential customers complete an application form on your website. It can be customised for you with your branding, colours, questions and contact details.
We verify your applicants details in real time and ensure that they adequately accept your Terms and Conditions of Trade – using digital signatures and verification if required.
Although it is not essential, most of our clients utilise our credit reporting and decisioning tools. We are set up to obtain and display credit scores from several leading Credit Assessment Bureaus. These can be agreed in advance with you along with your approval limits. We can set Crediible to automatically approve applications if they comply with profiles or you can manually approve all applications. We can also automatically process registrations on PPSR, again with pre-programmed profiles, if required.
Once completed and submitted, you will receive an email notifying you that the customer has applied to alert you to review, assess and approve the application and supporting documentation in your dashboard and workflow grid – or that it has already been approved if it complies with your preset approval criteria.
The applicant (and your sales team) is kept informed by email as their credit application progresses.
There are numerous reasons why businesses decide to embrace the automation of their credit application processes including:-
- Improved workflow, better productivity and reduced labour resources
- Increased automation which helps to improve efficiencies and reduce errors and credit risk
- Enhanced customer experience – easier to buy from you and a shortened sales cycle
- Important data held centrally in one repository accessible to management / staff enabling visibility, monitoring and continuity when staff leave
- Streamlined and enhanced credit management processes to reduce staff frustration
Setting It Up Is Easy – We Do All The Work
We only need a few things we need from you to proceed:
- a copy of your logo
- a URL from your website for us to link to
We take care of everything else and can have you set up in less than 20 minutes.