Balancing Credit Risk: Tips To Adjust To The New Reality


This eBook outlines the insights from Experian

Contents

Chapter 01

Balancing Credit Risk: Immediate Action Plan For The Credit Team

Chapter 02

Balancing Credit Risk: Tips To Adjust To The New Reality

Chapter 03

Role Of Technology In Building An Agile Credit Function

Chapter 04

About HighRadius
Chapter 02

Balancing Credit Risk: Tips To Adjust To The New Reality


What Is Your Primary Focus Of Your Department Upon Reopening?

Changing Trends In Credit Bureau’s Prespective

Continue with the same scoring models with emphasis on back-end data

Integrated-credit scoring with AI, ML & deep neural networking

Identifying high risk industries and how to delve into those accounts

Dan Meder, Experian
Michael Flum, CreditRisk Monitor
Ian Thompson, S&P Global

Need To Perform Frequent
Periodic Reviews

Looking at portfolio on a weekly basis, trying to leverage those elements and metrics that allow you to look at outstanding receivables

Eric Kider,Credit.net

Adjusting Credit Policy
To Accomodate Changes

Pushing SMEs for credit card payments & payment portals

Engaging with new industries and new markets

While onboarding, focusing on extracting more information on regional and industrial-level

Eric Kider,Credit.net
Ian Thompson, S&P Global

Recommendations

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Allowance for Doubtful Accounts: How to Calculate It and Record Journal Entries

There’s no time like the present

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HighRadius Credit Software automates the credit management process, enabling credit managers to make highly-accurate credit decisions 2X faster and enable faster customer onboarding with 4 primary components: configurable online credit application, customizable credit scoring engines, credit agency data aggregation engine, and collaborative credit management workflow. Along with that, there are a lot of key features that should definitely be explored some of which are online credit application, credit information aggregation, automated credit scoring & risk assessment, credit management workflows, approval workflows, and automated bank & trade reference checks. The result is faster customer onboarding, better internal collaboration, higher customer satisfaction, more targeted periodic reviews, and lower credit risk across the company’s customer portfolio.