Web-enabling the Credit Organization.(Brief Article)

A potential customer accesses your web site, likes what they see and decides to make a B2B purchase. Filling their shopping cart, they proceed to the checkout stand and decide to use the "bill my company" option. A "secure site" icon appears in your potential customer's browser, and your "web-enabled" credit application fills the screen with a look very similar to your paper credit application.

When the customer completes the online application, it is securely sent over the Internet to your automated validated and decisioning system, which validates and decisions the credit application. If the credit application is approved, your system quickly sends two responses. The first one goes back to the screen of the potential customer with a "thank you for your order" message and gives your new customer some important information, such as e-mail address verification, order number, customer number, etc. The second response your validating and decisioning systems sends is to your order processing system. This response provides your order processing system with all the information included in your online credit application. An account is automatically set up, a credit limit assigned and the order is processed. This is all completed without any human intervention.

So what are some of the possibilities where e-commerce can help your organization in the new and rapidly growing B2B environment? The following are a few of the follow-up topics to The Future of Credit Management study commissioned by NACM and completed by the Credit Research Foundation (CRF), which were covered in CRF's Credit and Accounts Receivable Open Forum held October 23rd through the 25th in Manhattan Beach California:

e-Apply--Online real-time credit approval

e-Buy--Online real-time order approval

e-Bill--Online bill (invoice and/or statement) presentment

e-Service--Online account management and customer service