How to be in full control of your auto managed customers credit limit?
Now before we help you answer the above question, what is the first thing that any business including a petrol pump business runs on? Smooth Cash flow, that’s right! Providing credit facilities to your customers is allowing them to avail the services and pay at a future point of time. However, providing this credit facility comes with a risk and higher requirements of working capital. In order to ensure smooth cash flow and to ensure payments on time, each business must have a control of its auto managed customers credit limit.
Petroleum industry like any other industry allows credit sales and purchases to reach a certain sales potential to thrive in this competitive market, thus petrol pump owners also offer credit services to their customers. What is credit sales and how can petrol pump owners exercise their complete control over auto managed customers credit limit is what we will see below in this article.
Garruda- POS solution
Garruda is a software that offers POS solution for managing all petrol pump operations from sales to accounting. It helps you provide an easy access for all your requirements from a petrol pump even before availing the services. Garruda being a POS software for all Petrol Pump Operations not only helps to maintain and keep a check on all the cash and credit sales of a petrol pump but also track sales and make accurate sales report and help in generating accurate sales as per delivery slips.
Credit risk Management for Petrol Pumps
Credit limit as we know is the maximum amount that is allowed to be extended to a customer, reaching it would result into putting a halt into making any further purchase till the previous debt is cleared. Garruda gives a well-constructed control in the handling of these credit limits. To simply put it, Garruda helps to manage credit sales and control the limit amount for each customer for petrol pumps making it easier for the petrol pumps to maintain their sales and to avoid fuel thefts and fraud activities.
Benefits of credit limit controlling software
- Avoid theft and fuel fraudulent activities
- Accounting and credit registering
- Manages sales with sales reporting
- Accurate Sales Bill generation as per delivery slips
Control Credit limit for Auto Managed Customers
To know how to control credit limit for auto managed customers, you need to have your sales report updated for auto managed customers and maintain credit sales policy for your petrol pump on the software. With challan wise registration you can have a full access on the list of not only monthly sales but also customers utilising credit facilities to make credit purchases. Set a limit on the basis of past debt clearance and frequency in purchase of petrol on the software. Garruda makes it easier for the petrol pump owners to keep a check on all the auto managed customers by generating latest reports of sale thus helping petrol pump owners exercise a complete control on the credit limit for all customers.