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Key Takeaways
Understanding the evolution of the credit lifecycle is crucial for improving customer experience and cash flow management.
The transition from manual data management to electronic systems has transformed operational efficiency in credit management.
Modern technology allows the use of scorecards and algorithms to streamline credit application processes and risk assessment.
A customer-centric approach is essential in credit management, promoting transparency and responsiveness in interactions.
Training and continuous development of staff capabilities are vital to leverage new technologies effectively.
The potential impact of AI in credit management remains largely untapped but offers exciting possibilities for future improvements.
Maintaining strong relationships with market representatives can facilitate smoother credit and collection processes.
Proactive engagement with customers facing difficulties can enhance retention and satisf...
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