Credit management is an area where technical knowledge, theoretical preparation, and a good ability to anticipate scenarios are crucial for success. But there is another technical element, just as important as the previous ones: data management policy.

Credit management has transitioned from the analog era, where offline programs and Excel spreadsheets were dominant, to the digital age. The world has changed profoundly since the digital boom, and today it is impossible to discuss credit management without mentioning SaaS platforms.

Therefore, this article will outline some reasons explaining the superiority of SaaS over offline tools in credit management.

What is SaaS?

‍SaaS stands for "Software as a Service." This term describes tools where users do not need to install external programs on devices like computers, tablets, or smartphones. Everything is available in the cloud.

For a SaaS service, all a user needs is an internet connection. In credit management, a SaaS platform consolidates all means for managing information and data in the cloud, simplifying the teams' routines.

What are the advantages of a SaaS platform?

‍Until a few years ago, most financial information management was restricted to offline files, such as Excel spreadsheets. This approach had many issues, from potential data corruption—leading to the irreversible loss of valuable information if there was no backup—to difficulties in sharing information when the internet was less prevalent or slower.

Some of the major advantages of SaaS include increased security, ease of data sharing, and better integration.

Advantages of SaaS platforms in credit management:

1) Easy Accessibility:

‍With SaaS, credit management uses functions similar to traditional software but without maintenance needs. Resources are continuously available as long as the user has internet access.

2) Financial Viability:‍

SaaS platforms do not require maintenance or license payments, making them financially accessible and simplifying operational costs.

3) Integration, Customization, and Security:‍

SaaS tools are designed for secure data storage and sharing from the start. They facilitate integration and provide enhanced security. Additionally, SaaS products often offer customization options to meet specific client needs and APIs for integration with other programs, further increasing personalization.

4) Strengthened Compliance:‍

In terms of compliance and corporate governance, data security is crucial. SaaS tools are valuable allies in this regard. They enhance organizational agility and integration in credit management, facilitate data checks and problem-solving, and clarify organizational data management.

aaS platforms can even help prevent or investigate fraud by tracking document changes and maintaining different file versions, allowing leadership or the compliance department to monitor alterations.

Discover CIAL’s SaaS Platform:

‍SaaS platforms allow credit management to centralize all relevant information in one practical, shareable, and secure location. This is exactly what CIAL360 Credit, CIAL’s SaaS platform, does.

This tool is a powerful ally for credit departments seeking a panoramic and simplified view of processes, speeding up data collection, organization, and analysis with a focus on security.

Combined with CIAL’s renowned database, this platform offers a reliable SaaS solution for credit management, providing streamlined data tracking and decision-making on a single, highly practical platform.