Revolutionize Your Odoo Credit Management
Sustain Customer Relationships.
Custom Odoo Credit Management
Odoo’s credit management features offer a basic foundation, but Aktiv’s Custom Credit Management App seamlessly integrates with your existing Odoo system, empowering you with a comprehensive suite of features designed to streamline processes, safeguard your finances, and build stronger customer relationships.
Why use Custom Odoo Credit Management App?
Risk Mitigation
By setting credit limits, businesses can avoid situations where customers accumulate excessive outstanding balances, reducing the risk of bad debts and financial losses.
Cash Flow Management
Credit limit management helps in maintaining a balanced cash flow ensuring timely payments and avoiding disruptions caused by customers exceeding their credit limits.
Customer Relationship Management
Managing credit limits effectively fosters trust and goodwill between businesses and their customers allowing fair and transparent dealings, enhancing long-term relationships and customer loyalty.
Data-Driven Insights
By analyzing credit management data, businesses can gain insights into customer payment behaviors, allowing for informed decision-making and strategic planning.
Legal Compliance
In certain industries, there are legal and regulatory requirements for credit management. Adhering to these regulations ensures that the business operates within legal boundaries.
Evaluating Customer Creditworthiness
Credit limit management allows businesses to assess the creditworthiness of customers before entering into significant transactions. This helps in avoiding partnership extension with high-risk customers.
How to use Custom Credit Management in Odoo?
1. Set up Credit Limit
Kick start the process by setting a default Credit Limit for customers.
2. Build Your Approval Channel:
In Configuration under Sales, list the members who will approve on credit changes.
3. How do you want to do Credit Management in Odoo?
Based on Sale: This method calculates credit limits based on customer’s sales order.
Based on Invoice: This method calculates credit limits based on customer’s invoices.
4. Create Sales Order/Invoice:
Go to Sales > Create Sales Order > Add Essential Details > Set Product quantity & Price per unit.
5. Raising Credit Exhaust Warnings:
If a customer has exceeded the credit limit and they try to create another sales order, a warning message will be displayed as shown below:
6. Credit Extension Approval - Request to Credit Manager
As soon as the user creates a sale order after exceeding the credit limit, system will send a credit approval request to the pre-defined approvers or credit managers.
7. Put Customer on HOLD:
Users can place customers on hold who consistently exceed credit limits without clearing payments. A warning message can be set for those customers.
8. Unblock Customer:
Users can unblock customers put on hold as needed.
1. Set up Credit Limit
Kick start the process by setting a default Credit Limit for customers.
2. Build Your Approval Channel:
In Configuration under Sales, list the members who will approve on credit changes.
3. How do you want to do Credit Management in Odoo?
Based on Sale: This method calculates credit limits based on customer’s sales order.
Based on Invoice: This method calculates credit limits based on customer’s invoices.
4. Create Sales Order/Invoice:
Go to Sales > Create Sales Order > Add Essential Details > Set Product quantity & Price per unit.
5. Raising Credit Exhaust Warnings:
If a customer has exceeded the credit limit and they try to create another sales order, a warning message will be displayed as shown below:
6. Credit Extension Approval - Request to Credit Manager
As soon as the user creates a sale order after exceeding the credit limit, system will send a credit approval request to the pre-defined approvers or credit managers.
7. Put Customer on HOLD:
Users can place customers on hold who consistently exceed credit limits without clearing payments. A warning message can be set for those customers.
8. Unblock Customer:
Users can unblock customers put on hold as needed.
FAQ's
The app comes with a specific configuration that enables you to manage credits at order or invoice level.
No, to ensure consistent enforcement, users cannot bypass the block. However, authorized users can initiate an approval workflow for exceptions.
You can designate specific users or groups within Odoo as credit approvers, ensuring a controlled and accountable decision-making process.
Once activated, the system prevents the creation of new sales orders for that customer within Odoo. This ensures you maintain control and mitigate potential risks until the situation is resolved.
