Functional Benefit of Credit Limit

Is there a provision for development of the Credit Limit feature?
I have noticed in several systems the assigned credit limit comes with warnings (such as the red flag that appears if the credit period exceeds etc) or seeking approval from another user with a level of authority to release Sales Orders to be converted to invoices etc.

I hope the dev team would look into this as it would really give an additional mileage in terms of system features.