1. It collects the customer's company name, fax number (with area code), residential address, phone number, and email address.
2. It asks the customer to choose what type of company they have: Sole proprietorship, partnership, corporation, or other.
3. It can collect the customer's contact details.
4. It can be used to help even those businesses which have bad debt.
5. It can automate the online application for credit form.
6. It will help you minimize the credit risk when you extend a line of credit to customers, to build long-term relationships or rapport with them.
7. It can help customers choose from various types of loans.
8. It can be configured to collect information regarding the payment histories, business credit profile, complete bank details, and other financial details of the potential client in question.
9. It can be configured to enable the potential borrower to upload backup documents.
10. It can reduce the turnaround time of a financial firm.
11. It can help a customer take accurate credit decisions.