Welcome to Tez Books by Innovative ERP Solutions Ltd. (IESL)

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Credit Management

According to Data Analytics, almost 40% of invoices are paid with delay, nearly 20% of customers avoid adhering to credit terms, and nearly 50% of them delay their payments and ask for another payment extension.

While writing our software, we gave deep thought to credit management. Because we understand how important receivables are to a business, we first defined a structure to monitor credit policies.

So what does TEZ BOOKS do to manage credits?

  1. Our software helps to organize and manage overdue customers’ accounts & transactions.
  2. Customers can be filtered into user-defined Credit Management Groups, enabling the attention to be focused on those customers that will make the most significant difference in terms of your bank balance.
  3. Define credit limits of each customer as it is one of the critical tools to avoid overdue invoices and bad debts.
  4. Define a maximum number of transactions which can be made without receiving payment.
  5. Define credit period / due date of each invoice based on the credit period of the customer or over-ride manually for specific transactions.
  6. Send automated WhatsApp, SMS and Email alerts to customers on or before due date of the invoices.
  7. Get sales and outstanding analysis based on geographical location of customer, to facilitate collections.
  8. Get real-time visibility and data analytics with built-in and configurable dashboards, reports, graphs, and charts, thus making your team more efficient and simplifying the collection of payments
  9. Get regular aging reports for purchase and sales invoices, invoice analysis, and recurring invoices. Aging analysis is to alert you with what receivables are to be dealt with more urgently because they've been overdue longer.
  10. You can configure the system to generate a payment link and send this link with the invoice and in all payment reminders. Customers can simply click on this link to make payment via Debit Card, Credit Card, UPI or Net Banking. Receipts are automatically created for successful payments.

Your business could face this……

One of your customer’s staff is visiting a place nearby your unit and your customer gives you a call stating that his person is in the same area as you, so if possible can he take the goods/products from you for the time being and can pay you the amount the next day. This happens regularly.

In this situation, our software comes to your rescue as you can define a limit on number of sale transactions that can be done without receiving a payment and also the credit limit for each customer. Once the threshold or the ceiling is crossed, the software would not allow the user to record the further transaction, and you can also have an excuse of software not registering the sales, thus maintaining your relationship with the client. It doesn’t end over here; you and your customer will also get regular automated alerts regarding the overdue payments, thus saving your time in pulling out the reports or be dependent on your accountants.

In another scenario, there are clients who issue post-dated cheques meeting the criteria of the credit limit against the goods/products ordered. In a short time, they place the order for the next set of goods/services even when the post-dated cheques are not cleared. On the one hand, your books of accounts indicate payments received, and on the other hand, it may not be clear that the PDCs are cleared. With TEZ BOOKS, you can define whether PDCs are to be considered or ignored for calculating credit limit. Also, regular automated alerts would be sent when the PDC’s are to be deposited in the bank to encash the cheques.

Features in Credit Management in TEZ Books:

  1. Easy to understand dashboard views of the overall credit position of your company & customers.
  2. Storing critical financial information on customer accounts and transactions.
  3. Filters to allow you to manage customers that are over their credit limit and/or have overdue invoices.
  4. Controlling Bad Debt exposure & expenses through the direct management of credit terms on the company’s ledger.

We’re here to help to grow your business.

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