Continued inflation and high interest rates, staffing concerns, and volatility from an already controversial election cycle and geopolitical tensions in the Middle East and Eastern Europe are adding pressures on working capital. Credit departments need to gear up to protect their companies against the risks while helping them to grow profitable revenues during these challenging economic times. Please take this 2-minute survey on the future of B2B credit management for a chance to win a $100 Amazon gift voucher. 1. In which of the following areas do you and your company most want to gain improved efficiencies?* Cash Application Digital credit applications integrated with CRM and / or e-Commerce site Real-time credit risk monitoring Automatic credit scoring and automatic decisions Automatic periodic credit reviews for existing customers Improve DSO & Working Capital instead of Collection Automatic credit scoring and auto credit limit 2. How important do you see AI-based technology to your business over the next year or so?* Critically important Slightly important Neither important or unimportant Unimportant 3. Where are you in your plans to add AI, Generative AI, and Automation to your finance and credit processes?* No plans to add in 2024 Researching options Moving forward with plans to implement AI-based solutions in 2024 4. What is your biggest concern with AI in finance and credit?* Cost Staff Unfamiliarity Data Security Staff Acceptance/Buy In Job Security 5. What is your current B2B credit approval and new customer onboarding cycling time?* Less than 1 day Less than 1 week Less than 2 weeks More than 2 weeks 6. What percent of on-time periodic credit checks and credit renewals are you able to do for existing customers?* Less than 10% 10-25% 25-50% 50-75% More than 75% 7. What percent of credit holds are you able to release on the same day?* Less than 50% Less than 75% Less than 95% More than 95% 8. What is the status of your DSO versus one year ago?* DSO is higher/worse DSO is lower/better Unchanged I don’t know
