Kredin is a Debt Collection System for businesses in Norway that facilitates efficient management of cash-flow and debt collection. Kredin automates payment reminders, payment notices to debtors for multiple debt accounts making accounting much easier.
Kredin was aimed at offering an Innovative Online Collection System. The central idea was to challenge the existing collection agencies to offer a unique and automated approach for the Norwegian society backed up by the law.
They wanted to enable users to collect money successfully with fewer efforts and in a more profitable manner than ever before. The collection case procedures & case steps needed to be dynamic, effective, and flexible.
The developed debt collection system had to work in combination with several third-party vendors for print and mail-services, credit check services, company registers, etc.
Additionally, it needed to be capable of making complex interest and claim calculations along with generating the proper PDF collection documents based on total case information.
This offered the people a unique and automated approach for money collection across the country.
Kredin allows its clients to collect the debt for multiple companies using a single user account. It also enables the clients to create users for managing the debt collection process for each company individually.
Since Kredin is integrated with the public company registered body and a private credit check company, this allows Kredin’s customers to find correct debtor information easily on the Kredin platform.
The system needed to be integrated with most or all Norwegian accounting and invoicing systems for seamless transfer of data.
Debtors can be reminded automatically on preset rules following legal parameters.
It’s integration with a print and mail company allows its customers to get professional collection documents that can be sent to debtors with just a click.
As a dynamic system, Kredin allows developers and the administration to make swift changes to the system for achieving tailor-made results.
Since we have a deep understanding of the Norwegian business market and how collection agencies operate, we are familiar with the possibilities that Norwegian law gives to creditors who need fast and profitable collection.
We helped Kredin create a next-generation collection tool that would benefit both creditors and debtors by reducing collection time while also keeping the collection fees as low as possible for debtors.
As a startup, Kredin wanted to find the best offshore organization for the job and hence, chose Successive to build their product.
Several complex processes needed to get assimilated in their functions and integration of those processes leads to the development of hitch-free operations.
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