Use Payment Data for Better Risk Analysis!
The experience you have with your customers' payment behaviour plays an important role in their continuous monitoring.
If the available data is systematically processed and integrated into the IT-supported credit risk management, an effective early warning system can be set up. With its help, even gradually deteriorating creditworthiness can be detected at an early stage. Risk management software supports you in automating these processes.
From CAM you can, for example, view the current payment history, turnover and liability history of each customer.
The software derives a trend from past payment experiences. It forecasts how the company and its payment behaviour are likely to develop.
This trend flows into the early warning system, which is used to automatically alert you to anomalous customers.
What works well alone, works even better in a team: With payment data providers.
The idea behind it is simple, but effective: Many companies supply information services providers with the experiences they make with their customers. The providers then combine the data and deliver back summarized information. This information help you build a comprehensive picture of your customers' payment behaviour with other creditors and to compare it to your own experiences.
We offer interfaces to the payment information providers Bisnode/D&B, Creditreform, EOS and IHD.
Due to the extensive integration and evaluation of internal information, sales staff are made more aware of credit policy objectives. As a result, sales can concentrate on customers with a stable credit rating forecast.
On the other hand, credit management must ask itself whether risk reduction measures would prevent turnover with positive profit contributions. The integration of the sales perspective, e.g. within the framework of customer value, is definitely of great relevance for success.
Close coordination between sales and credit management is therefore absolutely necessary. It can be easily realised with the help of IT and leads to previously unusual allies for our customers: the sales employee and the credit manager.
