Worried about mounting bad debt?
When you’re manually tracking credit and payments, it’s easy for high-risk accounts to slip through the cracks and hurt your bottom line.
The real issue is when slow credit decisions delay sales and create friction between your finance and sales teams, slowing down company growth.
This manual approach often leads to inconsistent credit policies. It also exposes your business to unnecessary financial risks you could have easily avoided.
The right software can solve this by automating your entire credit process, from initial checks to ongoing monitoring, freeing up your team.
In this article, I’ll review the best credit management software. I’ll help you identify the right tool for your specific business needs.
You’ll discover how these platforms improve cash flow, reduce debt risks, and integrate with your existing systems like your ERP.
Let’s dive in.
Quick Summary:
| # | Software | Rating | Best For |
|---|---|---|---|
| 1 | HighRadius → | Enterprise finance teams | |
| 2 | Gaviti → | B2B companies | |
| 3 | Emagia → | Global enterprises | |
| 4 | My DSO Manager → | SMBs focused on cash flow | |
| 5 | Esker → | Growing B2B finance teams |
1. HighRadius
Worried about risky credit decisions and cash flow?
HighRadius offers a comprehensive Credit Management solution to automate credit checks and provide real-time risk analytics. This means you can streamline your credit application processing and blocked order release, reducing manual effort significantly.
The platform helps you precisely manage credit risk scoring and approvals, leading to more informed decisions. Here’s how it works.
HighRadius uses AI agents to orchestrate end-to-end processes, including credit management. This helps you achieve guaranteed KPI improvements, like a 10% reduction in DSO (Days Sales Outstanding) and a 20% lower bad debt. You can also expect a 40% increase in productivity with features like Financial Statement Extraction using AI.
Additionally, their solution boasts pre-built integrations with over 50 ERPs and systems, ensuring seamless data flow and reducing implementation headaches. Plus, they offer a Credit Cloud specifically designed for robust credit management, streamlining everything from credit application processing to blocked order release. The result is better cash flow and reduced financial risk for your company.
While HighRadius uses AI agents to optimize credit, leveraging other technologies like IoT software solutions can further unify your business processes.
Key features:
- Automated credit application processing: Expedites credit checks and approvals, eliminating manual bottlenecks for faster decision-making.
- AI-powered credit risk scoring: Provides real-time, accurate risk assessments, helping you proactively manage bad debt exposure.
- ERP integrations: Seamlessly connects with existing financial systems for unified data and streamlined credit workflows.
HighRadius features, pricing, & alternatives →
Verdict: HighRadius stands out as an excellent choice for best credit management software, especially with its AI-powered features. It helps you automate credit checks, offers precise credit risk scoring, and integrates with your ERP systems to significantly improve cash flow management and reduce bad debt, as evidenced by guaranteed KPI improvements like a 20% lower bad debt.
2. Gaviti
Drowning in manual credit checks and late payments?
Gaviti offers an AI-powered accounts receivable platform that automates repetitive tasks for predictable, scalable A/R. This means you can say goodbye to payment delays and scattered communications.
It provides thorough and quick credit checks, alongside ongoing customer risk assessment, resulting in a faster application process and reduced bad debt. This helps your finance team make informed credit decisions, setting wise credit limits with confidence.
You need software that truly adapts to your workflows.
Gaviti delivers an autonomous invoice-to-cash process, making accounts receivable manageable and predictable. This allows your team to get ahead of invoicing issues and build stronger client relationships.
With capabilities like AI-generated workflows and AI-optimized customer communication, you can automate and optimize key A/R processes while ensuring the right message is sent consistently. The customer self-service portal makes payments and communication easier by allowing clients to pay invoices, track credit applications, and resolve disputes in one secure place. Additionally, features like fully customizable workflows and custom dashboards ensure the software molds to your existing processes, not the other way around.
The result is getting your cash into the bank faster.
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Key features:
- Credit Management: Conducts thorough, quick credit checks and ongoing customer risk assessment to enable faster application processes and smarter credit limit decisions.
- AI Assistant: Provides perfectly optimized dunning emails, ensures accurate remittance matching, and delivers proactive customer insights for stronger relationships.
- Customer Self-Service Portal: Offers a hands-off customer payment portal where clients can pay invoices, track credit applications, and resolve disputes anytime, reducing errors.
Gaviti features, pricing, & alternatives →
Verdict: Gaviti stands out as a best Credit Management Software solution for B2B companies looking to bolster cash flow and dodge debt risks. Its AI-powered automation and customizable workflows lead to a reported 30% decrease in DSO, significant reductions in late receivables, and up to 95% of reconciliation completed before your workday even begins.
3. Emagia
Struggling with credit decisions and cash flow?
Emagia offers autonomous finance capabilities with AI-powered tools, eliminating tedious administrative tasks.
This means you can focus on strategic outcomes for cost efficiency and cycle-time improvements, not manual data entry or reconciliation.
Here’s how Emagia can help.
Emagia revolutionizes your order-to-cash process, providing touchless receivables and frictionless payments. This is achieved through its autonomous finance IQ, designed to accelerate global enterprise finance operations.
You’ll find it handles credit risk, receivables, collections, deductions, and cash application, all while offering a customer EIPP portal and advanced analytics. It integrates with major ERPs like SAP, Oracle, and NetSuite, ensuring a smooth transition from your current systems.
Additionally, Emagia brings the “trifecta power” of automation, analytics, and AI through its AI Platforms like GiaPay for B2B payments, GiaGPT for generative AI in finance, Gia AI as a digital finance assistant, and GiaDocs AI for intelligent document processing. This comprehensive suite helps you manage credit and cash flow proactively.
The result is optimized cash flow.
Key features:
- AI-Powered Autonomous Finance: Automates credit risk management, receivables, and collections, freeing your team from administrative burdens.
- Comprehensive Order-to-Cash Suite: Manages credit, collections, deductions, cash applications, and includes a customer EIPP portal for streamlined processes.
- ERP System Integration: Connects seamlessly with major ERPs such as SAP, Oracle, and NetSuite, ensuring data flow and consistency across your financial systems.
Emagia features, pricing, & alternatives →
Verdict: Emagia stands out as a strong contender for the best credit management software due to its powerful AI-driven automation for order-to-cash operations. Its ability to integrate with diverse ERP systems and its focus on eliminating administrative tasks can significantly improve cash application rates and overall receivables management, as evidenced by its global deployment in 44 countries with over $4 billion in receivables.
4. My DSO Manager
Are you optimizing your business cash flow?
My DSO Manager is a credit management solution designed to improve your cash flow and mitigate customer risk. This means you can digitize customer relations effectively.
This software offers robust features to accelerate trade receivables collection and ensure your team is involved. It streamlines processes for quicker payments and reduced bad debt.
Here’s how My DSO Manager empowers you.
My DSO Manager helps you monitor your accounts receivable in real-time, offering insights into DSO, aging balances, and risk reports. This enables you to implement targeted action plans for performance improvement.
You can analyze customer payment behavior, using key performance indicators to inform credit analyses and trade negotiations. This provides the practical application of customizable collection scenarios for efficient follow-ups. Additionally, its robust integrations connect your management tools to automatically import data from various ERP and accounting systems like QuickBooks and Odoo, along with credit insurers and financial information providers.
It organizes your collection efforts, prioritizing actions by amount, type, or customer, ensuring timely execution of tasks.
Key features:
- Real-time Accounts Receivable Tracking: Provides immediate insights into DSO, aging balance, and risk, enabling proactive performance monitoring and improvement plans.
- Customer Payment Behavior Analysis: Delivers key performance indicators on customer payment times, supporting informed credit analyses and trade negotiations for faster payments.
- Automated Collection Scenarios: Allows creation and customization of dynamic collection documents, including emails and SMS, with automatic scheduling for consistent and efficient outreach.
My DSO Manager features, pricing, & alternatives →
Verdict: My DSO Manager is an affordable, innovative, and effective solution for your team. If you’re seeking the best credit management software that improves cash flow and manages customer risk, its powerful features, like real-time reporting and automated collection actions, make it ideal for you.
5. Esker
Struggling with credit management and cash flow?
Esker offers AI-powered automation solutions to optimize your Order-to-Cash processes. This means you can secure revenue through an optimized credit approval and risk monitoring process.
If you’re a finance manager grappling with outdated manual processes, Esker’s approach helps to improve decision-making and achieve better business outcomes.
Here’s what Esker can do for you.
Esker’s AI automation suite helps you optimize working capital and cash flow management. This is achieved through automated credit management, invoice delivery, and payment processing.
You can collect cash faster and reduce bad debt with AI-based predictions and risk analysis. The software also simplifies and accelerates cash application thanks to AI-powered remittance management and auto-matching. Additionally, you can efficiently manage customer deductions and disputed amounts while protecting your margins.
Plus, Esker provides a global cloud platform, Artificial Intelligence, a single interface for a 360-degree view, custom dashboards, and multi-ERP integration. The result is improved productivity and greater control over your financial operations.
Key features:
- Credit Management: Optimizes credit approval and risk monitoring processes to secure your company’s revenue and mitigate potential bad debt exposure.
- Cash Application & Deductions: Leverages AI for remittance management and auto-matching to simplify cash application and efficiently manage customer deductions.
- AI-Powered Collections: Utilizes AI-based predictions and risk analysis to accelerate cash collection and significantly reduce your overall bad debt.
Esker features, pricing, & alternatives →
Verdict: For finance managers seeking comprehensive automation and enhanced financial control, Esker stands out as a top contender for the best credit management software, integrating AI and mobile capabilities to optimize cash flow and decision-making for your growing B2B company.
6. Invoiced
Tired of struggling with accounts receivable?
Invoiced provides automated invoicing and collections, simplifying your entire invoice-to-cash process.
This means you can eliminate complexity, automate collections, and accelerate payments effortlessly, ensuring healthier cash flow.
Ready to improve your financial operations?
Invoiced simplifies managing accounts receivable by streamlining the invoice-to-cash process. This solution helps you move past delayed payments and manual follow-ups that slow down your cash flow.
It offers seamless invoicing and payments by connecting buyers and sellers for frictionless B2B transactions. You get automated workflows, AI-powered reconciliation, and accurate cash flow forecasting, saving your finance team valuable time. Additionally, you can design custom workflows and easily onboard customers or vendors for simplified approvals, ensuring the fastest way to process and approve invoices.
This comprehensive approach helps you reduce fraud and vendor impersonation by using a secure, verified network for sending invoices and receiving payments globally, even with multi-currency transactions. Plus, you can automate late fee follow-ups.
Businesses run on Invoiced.
Key features:
- A/R Automation: Automate invoicing and collections, design custom workflows, and streamline cash applications for faster, more accurate payment processing.
- Payments & Global Transactions: Facilitate fast, easy, and secure payments with built-in capabilities, supporting multi-currency transactions for frictionless global operations.
- Analytics & Integrations: Gain insights through powerful reporting and cash flow forecasting, and seamlessly integrate with your existing ERP and CRM systems.
Invoiced features, pricing, & alternatives →
Verdict: If you’re a finance manager seeking to automate credit checks, gain real-time risk analytics, and integrate with existing financial systems, Invoiced is a strong contender for the best credit management software. It provides solutions for every growth stage, including automated collections and multi-currency global payments.
7. Chaser
Struggling with late payments and managing receivables?
Chaser streamlines your accounts receivable, reducing manual effort and speeding up cash collection. This means you can say goodbye to time-consuming debtor monitoring.
Their software helps you automate tasks like chasing outstanding invoices, ensuring you spend less time managing your accounts receivables. It’s about simplifying the process.
Here’s how Chaser works.
Chaser introduces a comprehensive solution for accounts receivable automation. It helps you check credit, track receivables, and chase payments effectively.
You can automatically send email or SMS payment reminders and even use their AI email generator for replies. This means you can recover late payments from delinquent customers with greater ease.
Additionally, Chaser provides tools like credit monitoring, a Late Payment Predictor, and recommended chasing times to proactively manage risk. This holistic approach ensures you improve cash flow and reduce bad debt exposure, saving you up to 15 hours each week on manual processes.
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Key features:
- Automated Chasing: Sends email, SMS, and even auto-calls for payment reminders, including an AI email generator to save your team time.
- Credit Risk Management: Offers credit monitoring, a Payer Rating system, and a Late Payment Predictor to help you assess customer risk and protect your cash flow.
- Seamless Integrations: Connects with major accounting systems like Xero, QuickBooks, and Sage to automate data flow and reduce manual entry.
Chaser features, pricing, & alternatives →
Verdict: Chaser stands out as a strong contender for the best credit management software due to its end-to-end automation of accounts receivable. It significantly reduces manual effort, with users reporting a 60% decrease in DSO, helping you to get invoices paid an average of 54 days sooner.
8. Chargeflow
Are chargebacks eating into your profits?
Chargeflow offers fully automated chargeback recovery with a guaranteed 4x ROI, tackling the problem head-on. This means you can swiftly win back revenue, as Chargeflow safeguards your business against costly chargebacks, boosting your bottom line with less risk.
Their AI-driven technology combats fraudulent chargebacks and safeguards your profits from chargebacks, freeing you to focus on your core business operations.
Protect your cash flow.
Chargeflow introduces a comprehensive solution to your chargeback challenges, leveraging a 360° platform that uses data from a global merchant network. This includes their Alerts feature, which helps prevent 90% of chargebacks before they even happen, directly powered by Visa and Mastercard. Additionally, the Insights dashboard gives you a clear, bird’s-eye view into your payments and chargebacks, helping you make data-driven decisions when you need them most.
You can also integrate Chargeflow seamlessly into your existing systems, whether through embedding, whitelabeling, or API, supporting over 100 payment and e-commerce platforms. The result is a substantial reduction in incoming chargebacks across all reason codes, saving you time and effort.
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Key features:
- Automated Chargeback Recovery: Fully automates end-to-end chargeback and inquiry disputes, ensuring 100% submission rates and freeing up your team’s time.
- Proactive Chargeback Prevention: Utilizes Visa and Mastercard networks to prevent up to 90% of chargebacks before they occur, helping you maintain a low chargeback ratio.
- AI-Driven Insights and Evidence: Provides a powerful dashboard with AI recommendations, automatically gathering and organizing thousands of data points to build personalized, strong evidence for disputes.
Chargeflow features, pricing, & alternatives →
Verdict: Chargeflow stands out as a strong contender for best credit management software due to its automated chargeback recovery and prevention capabilities. With a guaranteed 4x ROI and reported win rate increases of up to 170% for customers like Obvi, it’s designed to significantly improve your cash flow and reduce bad debt exposure.
9. Kolleno
Struggling with overwhelming credit management options?
Kolleno centralizes and automates your collections, AR, and payment processes, helping you manage high invoice volumes. This means you can resolve every customer query and follow up on payments effectively.
You can reduce overdue balances within 3 to 6 months while maintaining positive client relationships, which is crucial for your financial health.
Ready to transform your cash flow?
Kolleno solves your challenges by bringing everything needed for AR and collections into one platform. This prevents constant switching between disconnected ERPs, Excel, and Outlook.
You can automate new client credit checks and monitor portfolio risk in real-time, minimizing bad debt and keeping you ahead of financial risks. Plus, Kolleno’s AI Agent assists your team by automating routine tasks and answering questions, saving significant time. The result is a significant reduction in manual processes and administrative tasks, saving you over 10 hours weekly.
This means you’ll receive payments faster and stay on top of credit risk.
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Key features:
- Automated Collections: Manages AR and collections in one platform, automating workflows to process high invoice volumes and ensure no customer inquiry goes unaddressed.
- Credit Risk Management: Safeguards financial health by automating new client credit checks and providing real-time portfolio risk monitoring to minimize bad debt exposure.
- Payments & Cash Application: Facilitates faster payments through a firm-branded customer portal, allowing clients to choose payment methods and automating payment matching and application processes.
Kolleno features, pricing, & alternatives →
Verdict: Kolleno stands out as a best credit management software due to its comprehensive automation of collections, cash application, and credit risk management. It effectively reduces overdue balances by 71% and saves over 10 hours weekly on manual tasks, ensuring robust cash flow and minimized debt exposure for your growing B2B company.
Conclusion
Don’t let bad debt sink you.
Choosing the right tool is overwhelming. A wrong move can disrupt critical workflows and expose your growing business to unnecessary financial risk and compliance issues.
Manually tracking credit is slow, risky, and prone to error. It creates constant friction between your finance and sales teams, stalling growth and putting your company’s cash flow in jeopardy.
Here’s what I recommend instead.
From my research, HighRadius is the clear winner. Its AI-driven automation tackles credit risk and streamlines your credit-to-cash process, protecting your bottom line.
I was especially impressed by their guaranteed KPI improvements, like reducing bad debt by 20%. The best credit management software should deliver tangible results like this for your company.
See how it can transform your operations. I suggest you book a free demo of HighRadius to see the AI in action.
You’ll finally secure your cash flow.
