Traditionally, the credit approval process is reactive; that is, a sales order arrives and the credit department evaluates credit worthiness of the customer. The credit process can be classified in three phases: Assessing quantum of and collecting information about the customer Evaluating the information Deciding credit worthiness of the customer   Credit approval decisions encompass trade credit, consumer credit or equipment financing. The time and expense involved in credit decisions depends on whether the customer is new or established, availability [...]