Boost Your Revenue with AI-Powered Digital Credit For most companies, the Covid 19 economy has reduced revenue and raised the level of credit risk There is an urgent need to increase revenue, but also control credit risk, and ensure customers pay in a reasonable timeframe These imperatives conflict – what can a company do? One part of the solution is to maximize sales to New Customers who have “reasonable” financial strength and are a “tolerable” credit risk Creating a Competitive Advantage Your competitors will be trying to secure new customers as well. How can you beat them? A fast, efficient, quality Credit Vetting process will enable you to on-board a new customer fast. Once you are supplying a new customer, in many cases you will pre-empt the competition. Companies seldom onboard multiple suppliers of the same product simultaneously How fast is fast? Hackett’s World Class performance is a credit decision in two (2) days The Solution: AI Powered Digital Credit AI Powered Digital Credit utilizes advanced technology: Artificial Intelligence with cognitive & self-learning Natural Language Processing – ability to interpret text & voice Enterprise Information Processing – integrate with ERP Digital Assistants Digital Assistants: Assist your workforce & provide info to Management The Benefits of AI Powered Digital Credit Labor Saving: 70 – 80% reduction in manual effort in above tasks AI Digital Credit Automation Enablers Digitization of the Credit Risk Management Process will deliver the accuracy, efficiency, speed & effectiveness now required Customizable credit application that customers can complete & submit on-line Automatic, real time import of credit bureau information and payment history Automated, customizable credit scoring AI powered credit decisions based on pre-defined rules to assign credit limits Full featured approval workflow guided by delegation of authority policy Automated periodic credit limit update process Automatic order hold capability integrated with Collections Configurable credit scorecards to track activity, status of credit applications, backlogs, etc Credit risk analytics to measure overall credit risk of an AR portfolio Case Study - Leading Building Materials Dealer Client Challenge The client is a fast growing supplier of building materials selling to a customer base highly dependent on vendor financing. While they sought to provide this financing quickly while managing credit risk, their manual systems could not keep pace with growth. They needed a B2B digital credit solution to evaluate more customers quickly and increase their revenue.