Many companies supply goods, loans, and services based on business and trade credit, either invoicing customers for payment at a later date or providing B2B loans. Business credit risk management assists companies with lending decisions based on a client's financial health as well as other parameters that may indicate how likely they are to pay on time. Providing the right amount of credit will reduce the risk of late payments or defaults, which expose the vendor to financial risk.
Competitor analysis is the process of understanding your competition in order to succeed in the marketplace. With a proper competitor analysis model, you can benchmark your progress against more established competitors, identify your target market, and even anticipate new products or services from your competition.
Companies of all sizes use payroll automation to deliver payments faster while cutting down on errors.
Robotic process automation is a commonly-used term, reflecting the fact that this system takes simple payroll rules and acts on them. However, not all systems are purely robotic; many incorporate machine learning to check for anomalies.