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ERP: Assisting in the Collections Process

Most companies have an Enterprise Resource Planning (ERP) system in place today. Unfortunately, ERP systems have only managed to be a transaction management system at best. This has led to a plethora of ancillary systems built to run on top of base ERP systems. However, more recently, technology has extended these transaction management systems to enable extended processes to be handled. Both credit scoring and collections processes are now appearing in ERPs. This article outlines how a major ERP system can now handle risk based collections management.