What is external credit information in SAP FIN-FSCM-CR - Credit Management?

SAP Term: external credit information

• Component: FIN-FSCM-CR

• Component Name: Credit Management

• Description: A company gets this information to assess the ability of a business partner to make payments. Credit information is provided, for example, by credit institutions and agencies.

Smart SAP Assistant

• Key Concepts: 
  External credit information is a feature of SAP Credit Management that allows customers to access external credit information from third-party providers. This information can be used to assess the creditworthiness of customers and make decisions about granting or denying credit. 
  
  How to use it: 
  External credit information can be accessed through the Credit Management component of SAP. To access the information, customers must first register with a third-party provider and then configure the Credit Management component to access the external data. Once configured, customers can view the external credit information in the Credit Management dashboard. 
  
  Tips & Tricks: 
  When configuring the Credit Management component to access external credit information, it is important to ensure that all necessary security measures are in place. Additionally, customers should regularly review their external credit information to ensure accuracy and make sure that any changes are reflected in their internal records. 
  
  Related Information: 
  For more information on using external credit information in SAP Credit Management, please refer to the official SAP documentation. Additionally, customers may find it helpful to consult with a third-party provider for more detailed advice on how to best use this feature.