INTEGRATING CREDIT MANAGEMENT WITH MONITORING TOOLS

 

Demand For Integration in Business Operational Flow

 

Integration - the need for integration of internal business operational flows is of paramount importance. A competitive domestic market has created external risks, due to the quick pace of globalization in recent years.

 

For a complete integration solution on managing credit, one can look towards integrating credit solutions as a holistic approach.

 

Integrating Credit Solutions – New Approach

 

As companies are increasingly looking for more revenues and profit, credit risk is being ignored. Integrating credit management is a new approach in closing the gap between credit and quality department. It has been a challenge for companies to achieve quality excellence and healthy credit control. Therefore DP Information Group introduced the ICS-Integrated Credit Solutions program that encompasses Credit Bureau, Q/R calls & Receivables Management Services. In adopting this new program, companies will have more competitive advantage in identifying and retaining loyal customers and at the same time monitor their customers’ payment histories and payment behavior to others.

 

1. Credit Bureau – Platform for Payment Information Sharing

 

This is a breakthrough process for companies to enjoy a better credit risk management. In addition to doing a credit check on companies, DP Credit Bureau extends its service to monitoring of members’ debtors’ performance. Our DP Credit Bureau monitoring tool alerts members via email if their debtor has a deteriorating payment behavior. Every day the extensive DP Credit Bureau database will monitor for changes to records of the monitored companies. Furthermore, you have the privilege to track the performance and payment histories of your customers, suppliers or competitors

 

2. Q / R Calls –The Anchor for Quality Management

 

Research has proven that it costs between five to seven times more to acquire new customers than to retain an existing customer. Hence, DP Information introduces Q/R Calls that stand out as Quality Calls or Reminder Calls. The “Q calls” will act as Quality survey, focusing on your customers’ feedback. Thus bringing out the essence of continuous improvement in your company’s quality process. As for “R calls”, we are enforcing a reminder call on your behalf to customers ensuring a smoothen receivables management. The Q/R calls service will also generate a monthly report on the quality of your products/services based on the feedback of your customers. Analysis and recommendations on the feedback will also be included in the report for your perusal.

 

3. Receivables Management

 

Receivables management completes the entire cycle of the credit process. Clients will be given feedback and comments on their credit policies and operational flows, identifying possible core obstacles in their collection process.

 

With an integrated solution, businesses can look towards a more efficient and effective business operational flow.