Credit limit management for ag retailers is a difficult and manual process to administer due to the number of different growers and combinations of growers. Even robust ERP systems are without the specific functionality that ag retailers need. The ability to accurately set limits and warnings on various categories of transactions affecting each grower is vital. Levridge is the only software solution built to help ag retailers manage this complex process.
Within the Levridge credit limits module, your users can define what actions will happen based on the transaction origin. Additionally, they can set if those actions should be included in credit limits and what types of warnings or errors should happen if a credit limit is met or exceeded.
The types of ‘over the credit limit’ actions include none, error, or warning. An error prevents the user from proceeding with the transaction and a warning lets the transaction move forward, but alerts the user that they need to follow up or get approval before completing. Notifications can be set within the system that alert designated users when a warning is triggered.
Additionally, credit checks can automatically be run against split sales proposals. For example, if three different customers are listed on a sales proposal, a credit check will run against each individual, automatically taking into account each agreement they have in place, whether that be a sole purchase, or splits with other parties. If one person in the scenario is over their credit limit, the proposal will automatically be rejected.
With this system in place, your users can now immediately invoice for transactions in progress that meet credit limit parameters, speeding up your payment collection process. Additionally, those same users can:
- Instantly identify any credit limit issues or overages
- See how much a customer has outstanding and what their overall credit limit is
- Check credit against all grain and commodities purchased
- Process an order, but not delivered until the credit is available
Levridge not only allows your users to access this data in real-time but also has the ability to generate detailed reports and dashboards with this information, giving managers insights into the status of credit limit thresholds.
Watch the video below for an overview of how credit limit management works in Levridge.