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Exploring automation in the B2B credit industry

Automation is at its all-time high across industries. B2B credit departments are considering implementing new technology and tools to better service their customers. Whether through ACH payments, online payment portals or the help of AI, credit professionals must know the most effective ways to use automation to their advantage.
 |  Kendall Payton, editorial associate  |  , ,

Automation is at its all-time high across industries. B2B credit departments are considering implementing new technology and tools to better service their customers. Whether through ACH payments, online payment portals or the help of AI, credit professionals must know the most effective ways to use automation to their advantage.

For example, using automation software to complete the more repetitive or mundane tasks can help save time and allow staff to focus on other areas that need attention.

According to a recent eNews poll, 17% of credit professionals are looking for an automation vendor—and although the unknown may seem intimidating, knowing where to start will help immensely.

Why it matters: At NACM’s upcoming 128th Credit Congress in Las Vegas, credit managers can explore the Expo that showcases service providers representing diverse companies from the U.S. and abroad. Each company will demonstrate how their products and services can assist credit professionals in their daily responsibilities.

Credit Congress is the largest gathering of business credit and financial management service providers in the nation. With opportunities to speak with exhibitors one-on-one and see product demonstrations or sit in on presentations in the classroom theater Solutions Hub in the expo, credit professionals can gain valuable insights into the technologies shaping the credit management landscape, empowering them to make informed decisions for their departments.

The Expo Hall showcases services and solutions relating to banking and financial services, cash applications, credit management, software and technology, electronic commerce and more.

One of the best ways to learn about vendors and new tools all at once and conveniently is by attending the Solutions Hub, as it offers succinct, interactive forums, presentations and demos on credit-related topics. Each participating exhibitor will present product demonstrations and Q&A sessions in 20-minute segments.

The Solutions Hub Presenters include:

  • Handle
  • Emagia
  • NACM’s Credit Managers’ Index (CMI)
  • Sidetrade
  • Bectran
  • Highradius
  • Nuvo
  • BlackLine
  • UTA
  • Billtrust

The Solutions Hub is perfect for those interested in learning more about a product or service in a classroom-like environment.

What they’re saying: Automation processes should be incorporated into baseline knowledge of a credit manager. They play an essential role in effective credit management—whether through AR or customer portal payments, for example.

“Technology and automation are here to stay in the credit profession,” said Charles Edwards, Jr., CCE, vice president of credit operations at SRS Distribution, Inc. (Mc Kinney, TX). “Tech’s role in credit management is only going to continue to become more pronounced—and those who embrace technology will outperform those who do not. Virtually all of SRS Distribution and Heritage Family of Companies credit processes have some form of automation from: initial credit decisions, account setup, billing, dunning, order releases, preliminary notices, waivers and more.”

The bottom line: Check out NACM’s 128th Credit Congress& Expo for opportunities to explore diverse automated tools from various vendors to help enhance daily responsibilities.

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Kendall Payton, editorial associate

Kendall Payton is an editorial associate at NACM National. As a writer who covers all things in B2B trade credit, her eNews stories and Business Credit magazine articles are crafted to keep B2B credit professionals abreast of industry trends. When she’s not in writer mode, she’s hosting the Extra Credit podcast or leading NACM’s Credit Thought Leaders forum—a platform for credit leaders to network and discuss challenges and solutions. Though writing and podcasting have become her strong suits, Kendall loves to edit and create video content in her free time.