12
Power of Cloud Computing in Credit Management Pam Krank Tuesday, June 14 2:00pm – 5:00pm #25055
Power of Cloud Computing
in Credit Management
Pam Krank
Tuesday, June 14
2:00pm – 5:00pm
#25055
1
Power of Cloud Technology
In Credit Management
NACM Credit Congress
Tuesday, June 14, 2016
Pam Krank President The Credit Department Inc. (TCD)[email protected]
Agenda
1. Introduction to the Cloud
2. Advantages of the Cloud
3. Credit Management Cloud Technology Options
4. Best practices in the Cloud
5. Future of the Cloud in Credit Management
What is the Cloud?
Cloud is the concept of maximizing resource utilization by sharing. It increases business speed and agility as each company no longer needs to solely rely on its internal technology resources and capabilities.
2
Cloud: Technology as a Shared “Utility”
Why Cloud?
– Available on demand
– Lower costs
– Cash flow: expense vs capitalization
– Scalability/allows for growth
– Access to expertise
– Flexibility
– Lack of downtime
Why the Cloud at TCD?
• Travel the world!
• Quickly adapt to changes/growth
• Mobile applications
• Attract top talent/Millennials
• Support global operations
• Access to latest and greatest technology resources
• No need to increase/replace IT infrastructure
3
Types of Cloud
Private Cloud
• Expensive
• Creates flexible, scalable infrastructure
• Easier connections to vendors, suppliers
• High degree of control (not shared)
• Top security
• Best for highly-regulated industry (ie healthcare)
4
Public Cloud
• Easy to use
• “Shared server” environment
• Provides scalability
• Pay-per-use (no long-term contracts)
Hybrid & SaaS
Hybrid: Combination of Public
and Private Clouds
SaaS (Software-as-a-Service):
Business subscribes to the application it accesses over the internet
HybridSaaS
Cloud Examples
5
How does the Cloud work?
Cloud Concerns
• Migration
• Costs
• Security
Migration to Cloud
• Review existing technology and processes
• Determine cloud options
• Sort through cloud providers
• Clean out files
• Transition from servers to clouds
• TCD migration:
– A/R credit/collection software
– Credit files, scorecards
– Financial (QB), misc company infrastructure programs
6
Cost of Cloud
• Changes since introduction
• Implementation
• Maintenance
Cloud Investment
Security
Dependent on vendor reliability
Credit specific cloud concerns:
•Bank account information
•Social security numbers
•Financial statements
7
Types of Credit Technologies Available in the Cloud
• Billing
• Cash application
• Credit Applications and Reference checking
• Credit Analysis & Scoring
• Credit file storage
• Collection notes, reminders, statements
• Dispute resolution & Deduction Management
• Cash forecasting
• Reporting
Billing Cloud Solutions
Cash Application
8
Credit Applications & References
Credit Analysis & Scoring
Credit files
9
Collection Activity
Dispute & DeductionManagement
Cash Forecasting
10
Account Receivable Reporting
Future of Receivables Management and the Cloud
Conclusion
• The Cloud is expanding in popularity
• Cloud is changing competitive landscapes
• Credit Departments are adopting Cloud technology to best manage their receivables portfolios
• Offerings for Credit Department Cloud products and services are growing
11
Questions?
Thank you!
Contact Information
Pam Krank
800-451-0164 x 203 [email protected]
www.tcd.com
