To say IT projects are cumbersome is an understatement. Onboarding, project management, testing and training are not often the most popular jobs on the work floor. All of these activities are investments that require time and attention. An update of a credit system requires a bit more than pressing a button on your phone to update its software. And it requires you to work in very close partnership with your IT provider, who might speak a whole different language than you.
That is why, at SCHUMANN, we have dedicated more than 25 years of research and analysis to understanding every facet of credit management trade credit and surety insurance markets. Our team is home to some of the market’s leading trade credit experts, many of whom have spent years in the underwriting room and the board room. We understand not only the market’s trading conditions, but what it takes to maintain a thriving global trade credit portfolio – including kinds of insights you might need and the tech that will provide them.
When the tension between Ukraine and Russia began, for example, many firms found themselves clutching at paper trails to ger a handle on their local exposures. However, in today’s digital-first world, the extensive support credit risk management solutions can provide meant most of these tasks could have been done automatically.
Far from the days of collecting printed slips, best practice tech can help underwriters respond to early warnings of deteriorating creditworthiness, automatically process applications, and enable quick, flexible policy decisions to keep pace with rapidly changing appetites. Fundamentally, any software should be able to take away the burden of maintaining outdated, disparate manual tasks.