“Many companies only check the credit rating of their customers once a year, whereas we do it continuously. Process automation creates the basis for permanent customer monitoring – and thus for efficient and sound credit management. “In times of economic uncertainty, it is more important than ever to keep a regular check on the creditworthiness and payment behaviour of customers,” says Wenzel. Identify risks early on and increase efficiency In practical terms this means that the system uses the underlying data and rule sets to calculate the percentage probability of payment defaults and sorts the customers into different risk classes on this basis. The focus is on determining company characteristics (key figures, trends, industry) that are typically associated with payment problems. The rule set applied here is based on statistical analyses and comprehensive data on the Bayer customer portfolio. The internal and external data on each customer are categorised and evaluated in the scorecard. In the dashboard, credit managers at Bayer see the most important key figures for a customer aggregated at a glance (including credit scores and finances). For a comprehensive credit check of major customers, we use special risk data,” says Wenzel.Īll information is transferred directly to the SAP Enterprise Resource Planning (ERP) system via an Application Programming Interface (API), compiled in an individual scorecard with internal information, and evaluated. For customers with a low credit limit, we use master data and payment behaviour.
What exactly does this mean? “We send an automated request for different data from Dun & Bradstreet depending on the credit limit. The team, headed by Andreas Wenzel, Global Credit & Customer Finance Manager at Bayer AG, is pursuing a “smart data purchase” approach for the process. To this end, the global life-science group Bayer has established a largely automated credit management process.
A decisive success factor is keeping a constant eye on the creditworthiness of customers. This makes it essential for companies to strengthen their resilience and ensure their own liquidity. What holds true today may well be called into question tomorrow. High inflation, rising interest rates, unstable supply chains, geopolitical upheaval – we are living in turbulent times.
To counteract this, the global life-science group Bayer has automated its credit management processes and, with the help of Dun & Bradstreet, significantly increased its efficiency and the quality of risk assessment. In uncertain economic times, payment defaults can be common.
0 kommentar(er)
