As the world continues to rely heavily on digital transactions, businesses need to ensure they have reliable systems in place to manage their B2B customers’ payments. This is where Epicor P21 comes in, a comprehensive enterprise resource planning software that offers numerous features to help businesses effectively manage their B2B customers’ payment terms. In this blog, we will explore some of the key features that Epicor P21 offers for managing B2B customers’ payment terms.

One of the key features of Epicor P21 is the ability to set and enforce customer-specific payment terms. This means that businesses can define different payment terms for each of their B2B customers as needed. For example, businesses can set payment terms such as 15% net, 30% net, or even custom terms such as 50% upfront and 50% on delivery. This flexibility allows businesses to meet the payment preferences of their diverse customer base, ultimately improving customer satisfaction.

Another key feature of Epicor P21 is its centralized customer credit management system. This feature allows companies to set credit limits for each of their customers and track their payment behavior. This feature allows companies to identify high-risk customers and take the necessary actions to limit potential losses. In addition, companies can configure automated credit checks for specific thresholds and alert them when a customer’s credit limit is approaching its maximum.

Epicor P21 also offers a robust invoicing system that allows companies to create and manage payment terms for their customers. Companies can create invoices and send them directly to customers through the system, eliminating the need for manual invoicing. This feature ensures accuracy and speeds up the billing process, reducing the risk of errors and payment delays.

In addition, Epicor P21 provides companies with a comprehensive view of all their customers’ payment information, including outstanding invoices, payment history, and credit limits. These real-time insights enable companies to make informed decisions and manage their cash flow effectively.

In summary, Epicor P21 offers a number of features that enable companies to efficiently manage the payment terms of B2B customers. From setting customer-specific payment terms to automating credit checking and invoicing, this software provides companies with the tools they need to improve payment processes and enhance customer relationships.