Topaz Delivers ëWorldís Firstí Credit Control Module

Payroll, HR and financial software company Topaz is to launch a credit control solution enabling users to automatically check the ongoing credit worthiness of clients.

The breakthrough, believed to be the worldís first, comes as the result of an exclusive deal between Topaz - the first supplier to offer a proactive credit control solution - and CreditScorer, the leading provider of benchmark and risk management services.

CreditScorer is the brainchild of Professor Nick Wilson, the internationally renowned guru on credit risk and management. He founded the company ñ a spin off from the Credit Management Research Centre based at Leeds University Business School ñ which uses the revolutionary scoring system he developed based on a unique series of algorithms.

Due to be unveiled at the Birmingham Softworld Show in October, the latest version of Topaz Credit Control will have an automatic link to CreditScorer on line, which will allow users to ñ

Credit check prospective new clients in seconds
Monitor the ongoing credit worthiness of all clients ñ or those judged to be most at risk
Identify why a clientís credit score approval rating may have dropped ñ i.e. newly submitted accounts, county court judgements, changes of directors

The new Topaz Credit Control Module will in turn use the information from CreditScorer to ñ

Store all credit ratings and suggested credit limits

Automatically alert the credit controller to refresh the score and credit limit at user defined intervals

Maintain a portfolio of ìat riskî customers to be constantly monitored by CreditScorer

The leap forward in automatic credit management is to be made available as part of the market leading Topaz Financials package or as a standalone product which integrates with all leading financial solutions.

Apart from the link to CreditScorer, the Topaz Credit Control module to be launched next month will also include a new interactive user interface which will offer ñ

A real time view of all accounts under the credit controllerís charge

A customisable window on individual accounts with columns providing a full picture of whatís happening ñ credit limit, account balance, aged debt, credit insured, value under query, promised payments, outstanding events ñ all of which can be changed in real time

A feature enabling controllers to adjust the activities focus based on prevailing conditions ñ i.e. close to end of month, poor cash receipts etc ñ allowing them to take remedial action such as targeting largest current balances or largest debts over 120 days

ìThe new Topaz Credit Control module successfully addresses two major issues ñ credit risk management and the real requirements of credit controllers,î says Eddie Stanley, the Topaz Sales Director.

ìWe were always out on our own with the first pro-active solution. Now these latest advancements put us out of sight of the rest of the field.î