automate and optimize your credit processes

Optimize your risk with the help of analytical consultation

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Create customized solutions with comprehensive customer analyses

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Increase profitability by being able to say yes to more customers

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Take control with informed risk-taking worldwiden

Increased credit market means increased demands

Increased credit market means increased demands

The more the credit market expands, the more crucial your company's credit offering becomes for your business. To maintain and ensure profitability, companies need to optimize their process and their offer. As the market expands, increasingly greater demands are placed on the credit process, with more importance attached to issues regarding traceability, transparency and compliance. The same applies to the knowledge and skills needed to comply with related legislation regarding credit information and consumer data. All of these changes mean that there is a need for credit processes that optimize risk and promote business while also complying with increasingly stringent requirements and rigorous legislation.

In parallel with these changes, customers are also becoming more demanding. More options and access to comprehensive information when buying products and services also brings an expectation for better solutions. In the effort to meet customers' needs for faster service, an effective credit process can be crucial.

Bisnode's automated and optimized credit processes enable you to streamline your risk management and ensure compliance while also offering a quick and customer-focused process. Through consultation with Bisnode's experienced analysts, you can be sure that your credit process is optimized for market conditions and your position. Bisnode's country-specific offers are supplemented with an international solution through our partnership with Dun & Bradstreet. This partnership gives you access to the world's largest corporate database and enables implementation of the credit process and analysis no matter where your customers are located.

 

Expand your knowledge and develop new opportunities

Expand your knowledge and develop new opportunities

See the potential in customized offers

  • Increase understanding of your customers with an optimized credit process based on their needs
  • Streamline the process using Bisnode's insightful analyses and a combination of your data and ours
  • Develop optimized strategies for the future through consultation with Bisnode before strategic and tactical changes

 

Maximize the value of your business

Maximize the value of your business

Achieve better results with a streamlined process

  • Minimize costs due to fewer credit losses and less expenses allocated to the credit process
  • Maximize profits with the ability to grant more customers credit at the same or even lower risk
  • Create profitability with a customized and optimized credit solution that supports your business
Ensure enhanced control and compliance

Ensure enhanced control and compliance

Increase efficiency and improve customer satisfaction

  • Increase reliability in your credit management with a solution that allows less margin for human error
  • Reduce the risk of badwill through increased monitoring and compliance with prevailing laws and regulations
  • Develop customer relations with effective credit decisions, fast response and improved service

Bisnode's solution for automated and optimized credit processes is based on in-depth analyses conducted by our experienced consultants. We look at your current process, identify opportunities for improvement, present potential results, suggest a new process and lead the change process during implementation. Our broad expertise enables Bisnode to offer various types of analyses and insights, all based on your needs, challenges and opportunities.

These analyses may include:

  • Identification of your the credit process in relation to your customers, including issues such as good credit granting practices and data storage
  • Examination of your credit process in relation to your shareholders, including issues such as how you maximize profits through the process or how you could avoid making decisions that could adversely affect your image
  • Identification of your credit process with respect to laws and regulations

 

In order to optimize the credit process for your company, Bisnode's consultants start by conducting a situation analysis of your current process. This comprehensive analysis gives both you and us a clear picture of the challenges and any potential for improvement. It also provides a good understanding of how your customer structure looks and behaves. This could reveal anything from an outdated credit policy to issues regarding compliance and adaptation to new regulations.

In the situation analysis, we examine the following:

  • Customer structure — distribution between companies and consumers
  • Presentation of customer portfolio based on various characteristics such as age distribution, customer size (billing), utilization rates of credit granted or geographic distribution, broken down by product or business area (or similar parameters)
  • Sectors — identification of sectors in which you are strong/weak (for corporate customers)
  • Risk allocation based on rating or score models
  • Automation rate — insight regarding the efficiency of your credit management
  • Approval rate — identification of your current approval rates
  • Criteria for refusing a customer and identification of the risks in this group
  • Potential in approval rates — analysis of whether you can raise your approval rate without increasing your risk
  • Credit fraud — analysis of your level of vulnerability

 

Based on this comprehensive situation analysis, Bisnode's consultants draft a proposal and a visualization of what an improved credit process could mean for your business. We identify the potential it has and how it could support your company and business in creating the conditions for an optimized situation.

In this visualization, we examine the following:

  • Key financial indicators — the effect of a changed and improved credit process based on key indicators such as potential increase in profits, reduced costs, new customers, profit margin, sales, etc.
  • Daily operations — impact and outcome of an optimized process
  • Compliance — how the credit process can be made more consistent with laws and regulations
  • Image — the effect and potential of improved management
  • Development potential — opportunities and consequences in terms of both soft and hard values

To ensure a smooth implementation of the new credit process, we help you with change management to make sure the process is adapted and incorporated into your daily routines. Because conditions are different for every company, there is no turnkey standard solution for what we do. Instead, we adapt the solution to meet your needs.

Here are some examples of what we can help you with:

  • Creating or updating a credit policy
  • Training your employees in the new policy
  • Implementing the policy and breaking it down into decision support in the form of credit guidelines and credit rules
  • Creating continuous monitoring of the credit management process

 

To further optimize credit granting, we also offer customized scorecards. Bisnode's Consumer Score is a consumer credit rating model in which we use historical data to predict future events. Starting from the specific conditions of your company, we create a model that allows you to grant credit to more customers without increasing your risk, or maintain your lending level but reduce your risk. This ensures that you have effective credit management that supports your business and that can lead to increased profitability.

Find out more about Bisnode consumer score

Before making the change to a new risk model, we give you the chance to test potential outcomes. This gives you a clear picture of the impact a new risk model would have in comparison with the one you have today. You can also continue using your current model on a certain part of your customer inflow while testing a contender on another part, allowing you to optimize risk models for use in different product offerings. This solution thus challenges your current strategy and creates opportunities to try out a new one.

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