Experian, a global information services company, today announced that it has teamed with eCredit, a leading provider of online solutions for credit and collections professionals, to launch an end-to-end new account and portfolio management credit decisioning tool.
Powered by eCredit's market-leading credit decisioning technology and integrated with Experian's small-business commercial risk information, Credit Risk Advisor provides the trade credit community with a powerful tool to more efficiently support new accounts and existing portfolio management.
With automated workflow functionality and configurable decisioning criteria, Credit Risk Advisor enables users to develop and easily implement a robust credit policy that identifies areas of risk and opportunity across their entire portfolio. The new service also provides clients with flexible scorecards that meet the evolving demands of trade credit companies, including manufacturers, wholesalers and transportation businesses.
"Credit professionals require access to thorough, accurate commercial risk information, enabling them to receive clearer visibility into emerging problems," said Marc Kirshbaum, president of Experian's Business Information Solutions group. "Credit Risk Advisor delivers the most extensive information available on a small business in a powerful tool that provides better cash management through improved front-end decisioning and more targeted receivables treatment."
Credit Risk Advisor automates the new account decisioning process by allowing business credit applications to be entered and instantly evaluated in a paperless online environment. All account information - including Experian credit scores, payment history, notes and approved credit limits - can be electronically routed within the credit department or between credit and sales, enabling clients to save time, reduce out-of-policy exceptions and improve cash-management productivity. The new service also will evaluate account portfolios using automated customer-defined rules and will aid in the immediate identification of unwarranted credit exposures before significant problems arise.
"We have created an easily configurable decisioning platform for credit managers, and through our alliance with Experian, we are pleased to be extending the reach of this flexible yet powerful solution," said Jim Swift, president and CEO of eCredit.
Credit Risk Advisor allows clients to:
- Define, automate and drive new account and existing account credit policies and procedures
- Identify and assess unwarranted credit exposures and effectively prioritize collection efforts
- Delegate work based on automated decisioning rules for new accounts and periodic reviews
- Maximize efficiency, reduce credit losses and respond more quickly to customer requests
- Achieve more consistent decisions in line with strategic credit policies