Transforming Global Credit Operationsfor High-Volume Businesses

COMPLIANCE, CONTROL, CASH FLOW

Business models across a broad range of industries are in a state of transformation as companies try to adapt to volatile economic times, increased global competitiveness and evolving modes of commerce that have ramped up the speed of business. Managing credit risk for global companies in these conditions has become increasingly complex.

CFOs and credit department managers are suddenly facing new challenges in managing risk —and new responsibilities to help their companies leverage exciting new business models to enhance their competitive advantage in today’s volatile business environment.

As the role of CFOs and credit managers becomes more strategic, they must find new ways to meet those challenges in order to become a catalyst for change across the enterprise.

But at many firms, CFOs and credit managers are not equipped with thetechnology and tools they need to help lead their companies to the next level.

The Challenge

The Inhibiting Factors

CFOs and credit managers in high volume global businesses are recognizing the need for innovation and transformation in their operations, as they are inhibited by several key factors.

Lack of timely information on credit risk across multiple product segments or across different geographies often leads to delays in business decisions addressing risk. This often results in reduced cash flow and impacts working capital.

Processing spreadsheet-based credit applications can be slow, cumbersome and time consuming, leading to higher costs, lower revenues, and delays in new customer onboarding. This inefficiency extends beyond the bottom line leading to ineffective controls and inconsistent credit evaluations.

Many credit departments are not equipped to do periodic credit reviews of their customer portfolios. This can also hinder business success by increasing the receivables risk and generating higher bad debt reserve.

A company’s competitive edge can be compromised by its inability to identify potential credit issues and provide timely insights on credit risk.

The Transformation

In today’s volatile business environment, high volume credit departments must transform to be agile, automated and adaptive.

What does it mean to become more agile, automated and adaptive?

Credit departments must become more intelligent on credit risk situation, increase credit approval efficiency, improve credit decision consistency, and control credit risk by revising credit policies proactively.

Providing greater insight into customer behavior and giving better guidance to sales and operations regarding credit risk issues is also one of the key priorities for the credit departments.

By becoming more agile, automated and adaptive, credit department managers can facilitate increased revenue and profit growth while honing the competitive edge of their business.

The Solution

Emagia Credit Management

Emagia Credit Management delivers agile, cost-effective, intuitive andeasy-to-use credit management elements necessary to make high volume, global credit department operations transform to deliver high performance.

Emagia provides a single, global, standardized platform for all credit operationsacross all regional departments as well as shared service centers.

Emagia Credit Management combines the power of innovative technologies such as business intelligence, predictive analytics, workflow and cloud computing to deliver effective results.

Integrating tightly across leading ERPs and other financial systems, credit departments are empowered with insight, intelligence and efficiency tools necessary to transform into high performance teams.

Delivered as enterprise license or Software-as-a-service (SaaS) solution Emagia Credit Management is quick to deploy in your enterprise or on the Cloud.

Credit Management Dashboard

Emagia Credit Management provides real-time business insight and intelligence with next-generation, intuitive analytics associated with your customer portfolio and on your credit operations.

Emagia Credit Management provides a powerful, visual and intuitive Credit Management Dashboard for risk monitoring and trend reporting useful to executives and managers for timely decision support.

You can monitor risk by customer segments, regions, business units and multiple other dimensions to gain full intelligence on your credit risk and exposures.

With real-time business analytics and reporting on credit operations, you can monitor efficiency and effectiveness of your credit management while gaining strategic insights and guidance to adopt best practices.

Further, Emagia Credit Management delivers the intelligence and insight not only to proactively manage your business risk, but it helps you on providing strategic guidance to sales for identifying the best revenue growth opportunities for your business.

Emagia Credit Management

Online Credit Application

Emagia Credit Management includes Online Credit Application, a fast and consistent process for high volume credit departments to receive fully completed applications.

By offering customers and sales operations access to the online credit application, you can reduce the time and resources necessary to handle credit applications, onboard customers faster and increase customer satisfaction.

Region-wise or product-wise templates will also help customize your credit evaluation process. Checklists can be associated with each template ensuring that the credit application is completed with all necessary information before getting processed.

The ultimate result of the added efficiency and effectiveness through the Online Credit Application will be lower costs for credit application process, rapid new customer onboarding.

Emagia Credit Management

Configurable Credit Scoring Engine

Emagia Credit Management brings a very sophisticated and advanced mathematical credit scoring engine that helps you build multiple sophisticated credit score cards and improve the consistency of credit evaluations.

It enables you to configure scorecards dynamically and maintain product-wise or region-wise score cards. You can define metrics and score cards for streamlining credit evaluations and gaining consistency in decisions.

Scoring policies can be associated with metrics related to several sources such as customer financial information, external credit bureau information and account receivables related information.

The application will help you improve the consistency of your credit approvals by giving you the ability to adjust your credit policies based on business conditions, and to gain effective region-wise credit risk assessment.

Emagia Credit Management

Automated Credit Decisions

Emagia Credit Management Solution enables you to improve your efficiency and effectiveness by automating your low-impact credit decisions without any manual intervention.

The rules-based credit decision feature utilizes a high efficiency driver that automates the decision-making process. By automatically identifying decisions for very high and very low risk applicants, Emagia empowers credit departments to make instant and fast-paced credit decisions. As volumes fluctuate, rules are dynamically changed to adapt to current conditions.

Faster onboarding of low-risk customers will accelerate the growth of your revenues, while a more efficient screening process will direct more business to the right customer segments.

Designed for delivering agility, automation and adaptiveness, Emagia Credit Management will reduce time and costs associated with credit decisions, leading to improved revenues and profitability.

Emagia Credit Management

Workflow-based Credit Approvals

Emagia Credit Management features an automated workflow-based process for credit approvals that helps reduce time and costs while ensuring consistency.

It streamlines the approval process and facilitates a more efficientmulti-departmental collaboration on the approval. Emagia Credit Management automatically tracks audit trails for approval history and ramps up the speed of the process with escalations and reminders.

Visual workflow maps provide a quick snapshot on the approval process and its status at any point of time. Detailed reports associated with credit approvals efficiency help you streamline the process for efficiency and best practices.

Better controls will lead to better, more consistent decisions on credit approvals—while dramatically reducing the time required to make the approval decisions.

Compliance on SOX 404 will be enhanced for your credit department and your shared service centers.

Emagia Credit Management

Automated Credit Strategy

Emagia Credit Management Solution provides you the power to automate the credit review process for existing customers, offering you valuable insight into the issues facing your customers.

The Automated Credit Strategy feature gives the ability to pre-schedule automatic credit reviews every three or six or twelve months or any predefined term.

It automatically monitors customers for credit review dates, calculates credit risk and identifies potential credit risks proactively. You can streamline the receivables process and adjust credit and collection strategies based on credit risk.

You can poactively manage risk in your customer portfolio by increasing the frequency of credit reviews. Your business will be able to minimize credit risk and bad debt reserve while cutting costs across the entire credit review process.

Emagia Credit Management

The Benefit

Bottom-line Benefits for High Volume Business

Emagia Credit Management will transform your global credit operations to become agile, automated and adaptive delivering tangible results to the top-line and bottom-line.

Experience transformation in a systematic, cost-effective and rapid way. Gain benefits of leveraging technology and best practices to boost your business advantage.

Mitigate credit risk with deeper insight into future credit risks and early indications of customer non-payment or frauds. Increase revenue growth with enhanced order management, reduced number of orders on hold and faster credit check exception handling.

Improve collections performance with reduced Days Sales Outstanding, reduced revenue leakages and lower customer delinquencies. Boost cash flow and profitability with lowered operational expense, better quality of receivables portfolio, lower bad debt expense and lower number of lost sales.

Your credit department can now become a strategic partner to your CFO to help lead your business proactively and become a Catalyst for Change.

The Summary

Emagia Credit Management can help your global credit operations transform to achieve high performance.

The Credit Management Dashboard provides you daily business intelligence on credit risk and credit operations.

The Online Credit Application reduces the time and resources necessary to handle large volumes of credit applications.

The Automated Credit Decisions is a high efficiency driver that accelerates the credit decisions.

The Configurable Scoring Engine improves the consistency of your credit approvals.

The Workflow-based Credit Approvals feature improves controls and compliance by streamlining the credit approval process.

The Automated Credit Strategy function enables periodic credit reviews, providing valuable insights into the credit issues.

The Action

Transform your global credit operation now with the Emagia Credit Management Solution for High Volume Business.

Contact Us

Emagia CorporationToll Free: 1-866-EMAGIA-1E-mail: info@emagia.com

About Emagia

Emagia Corporation is a leading provider of Enterprise Order-to-Cash Management (OTC) solutions with proven success worldwide helping customers reduce credit risk, maximize collections from receivables and optimize working capital. Emagia Receivables Management Suite is an integrated credit, collections, deductions, cash application and customer financials management solution suite which helps streamline all aspects of receivables management and improves cash flow. Emagia Analytics Suite is a set of business insight and analytics solutions for deeper insight into credit, collections and cash flow forecasting from receivables.

For more information, visit us at www.emagia.com