Monk Adds Credit Management to Accounts Receivable Platform
Monk has made Credit Management available to all customers, the company announced in a press release. The product combines customer payment behavior with credit or commercial data from a provider selected by the user.
Credit Management analyzes factors including payment speed, disputes, and short payments. It then generates a credit report and suggests a credit limit, while a finance professional retains responsibility for the final decision.
Monk says more than $2 billion in receivables run on its accounts receivable platform. The company also reports that customers have reduced days sales outstanding by 40% on average.
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