Case study: FINANCIAL SERVICES

Credit Review Solution: Automate Credit Review Processes with bSure

Case Study at a Glance

CLIENT

A global CPG corporation

THE PROBLEM

Our client needed to establish collaboration among different departments involved in the credit and risk management process. Wanting to improve managing account receivables, periodic credit reviews of existing customers, and credit checks of new onboarding customers, management turned to Vertex.

THE VERTEX SOLUTION

Vertex built bSure, a digital tool that automates workflows and performs credit analysis and reviews, multi-level workflows, credit limit management, and audit trails. bSure streamlines the entire credit review process, creating electronic storage of documents that reduce credit reviewing to a few minutes.

THE RESULTS

bSure delivered cost savings of hundreds of thousands of dollars within a year of implementation. It also delivered work process improvement savings by over 5,300 hours in the first year. Additionally, integrations with existing internal and external systems as well as credit bureaus allow real-time accessibility.

How Vertex helped a Major CPG Company Automate Credit Review Processes in a Way that Integrated Existing Systems and Worked with Credit Bureaus

Problem and Background

Our client is a global CPG giant. Their products are sold across more than 100 countries through a huge network of wholesale customers, retail customers, and third-party distributors. The client has a large credit review team that had been relying on manual processes to conduct periodic credit reviews, customer credit checks, manage receivables, extend credit limits, etc. Due to manual processes and a hefty amount of paperwork, long delays in conducting credit reviews were far too common. They needed a way to expedite the credit review process in a way that integrated existing systems and worked with credit bureaus.

Our customer faced problems in the following areas:

Managing Accounts Receivable
Performing periodic credit reviews of existing customers
Credit checks of new onboarding customers
Trying to establish collaboration among different functions involved in credit and risk management for a seamless process

Vertex Solution: bSure Automates the Entire Credit and Risk Assessment Process

Vertex rolled out its flagship solution, bSure, which automated the entire credit review process, creating electronic storage of documents that reduced credit reviewing to a few minutes.