Credit Management refers to the process of managing customers’ creditworthiness and managing a company’s accounts receivable portfolio. It includes assessing the creditworthiness of potential customers, setting credit limits, monitoring payment terms and collecting outstanding invoices. The goal of Credit Management is to optimize a company’s cash flow by ensuring that customers pay on time and minimize the risk of default.

KYC state (Know Your Customer) refers to the process by which a company verifies the identity and trustworthiness of its customers. This includes collecting information about the customer, such as name, address, contact information and company information. The purpose of KYC is to reduce the risk of fraud, money laundering and other illegal activities. By following a thorough KYC procedure, a company can ensure that it does business with trustworthy customers and minimize the risk of financial losses due to fraudulent activities.