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Case Study - Edward Don & Company
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Case Study - Edward Don & Company

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Edward Don & Company deploys the DecisionIQ℠ account acquisition process to help continue double-digit sales growth.

Edward Don & Company deploys the DecisionIQ℠ account acquisition process to help continue double-digit sales growth.

Published in: Economy & Finance

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  • 1. Edward Don & Company deploys the DecisionIQSM account acquisition process to help continue double-digit sales growth. Client Owned and operated by the Don family since 1921, Edward Don is the world’s largest distributor of equipment and supplies to the foodservice industry. Clientele comprise in excess of 35,000 active accounts in the United States and internationally. Edward Don also works with a diverse set of credit challenges ranging from large foodservice construction projects to mom-and- pop start-up restaurants that require personal guarantees to support the extension of credit. Challenge/Objective One of Edward Don’s biggest challenges was its need to efficiently manage a quickly growing portfolio of commercial accounts. The company’s goal for new account acquisitions was to provide credit the same day an application was received. With more than 100 new accounts per week, there was high demand for an efficient, automated decisioning product to streamline credit approvals. “Our goal was to use limited resources when setting up new accounts and, if possible, make a decision within 30 minutes or less. We wanted to avoid the slow and costly process of calling trade and bank references,” says John Fahey, Director of Credit, Edward Don. Resolution Edward Don was working with Experian’s Decision Insight prior to DecisionIQ. At the time, Decision Insight helped incorporate the company’s credit policy into an automated online environment to aid in quick decisioning. As Experian’s commercial suite of products and services evolved, more predictive scores and user-friendly tools became available to better predict risk and manage accounts more effectively. Edward Don tested the Intelliscore PlusSM score, and it performed well against the company’s commercial portfolio. As a result, in 2012, Edward Don migrated to DecisionIQ, Experian’s next-generation decisioning product available in BusinessIQSM . Case study: Edward Don & Company DecisionIQSM reduces time and expenses for new account acquisitions “Understanding the current market and being able to quickly adapt to changes are vital to achieving growth. ... Experian’s Business Information Services provides us with market- leading tools and the freshest data available to help us stay competitive and make rapid, informed business decisions.” — John Fahey, Director of Credit, Edward Don
  • 2. Results With more predictive scores and enhanced decisioning tools, Edward Don can now manage its new account onboarding process more efficiently. Two DecisionIQ scorecards were built to help satisfy its diverse blend of customers. One scorecard uses commercial data to assess risk on large foodservice construction projects and on large to medium-sized businesses requesting credit. This group is comprised of regional chain restaurants, hotels and healthcare accounts. The second scorecard uses a blend of commercial and business-owner data to help secure credit for small, independent operators or start-up restaurants. Edward Don also uses a custom decisioning model that combines credit risk and account profitability to create a blended score for sales order review and release processes. To manage risk with current customers, credit risk data is combined with accounts receivable data. High-risk accounts are updated regularly throughout the year. Finally, Edward Don continuously strives to find new ways to integrate Experian with existing credit and collections processes. The continued focus on process improvement allows Edward Don credit to support double- digit sales growth while keeping new account acquisition expenses low and experiencing minimal credit risk resulting in bad debt writeoffs. Experian 475 Anton Blvd. Costa Mesa, CA 92626 T: 1 877 565 8153 www.experian.com/b2b © 2012 Experian Information Solutions, Inc. • All rights reserved Experian and the Experian marks used herein are service marks or registered trademarks of Experian Information Solutions, Inc. Other product and company names mentioned herein are the property of their respective owners. 10/12