Zero Bad Debt - Four Years In A Row

Impact Achieved

25%

Increase in Sales

89%

Reduction in Credit Review Time

96%

Increase in Credit
Limit Reviews

61%

Faster
Customer Onboarding

 “HighRadius transformed our credit team from a reactive function into a strategic enabler of growth. By automating reviews and cutting processing times from an hour to five minutes, we have maintained zero bad debt for four consecutive years, freeing our team to proactively support revenue.”

case-study-speaker

Don Giallanza

Commercial Credit Manager

Chevron Phillips Chemical

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About Chevron Phillips

Chevron Phillips, an American chemical manufacturer, enabled proactive credit management to achieve 61% faster customer onboarding while fostering strategic credit-sales collaboration to drive top-line growth.

Employees

5000+

Revenue

$13.16B

Region

North America

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Top Challenges

  • Slow Customer Onboarding: Manual processing of paper applications and weeks-long reference checks delayed new customer onboarding by an average of seven days, impacting sales velocity.
  • Time-Consuming Manual Reviews: Credit reviews took up to 60 minutes per account , with analysts spending over 400 hours annually just on low-risk, small-dollar customers.
  • Reactive Risk Management: With no real-time risk monitoring , the team discovered over 20 major customer downgrades per year only after the financial exposure had
    already increased.
  • Backlogged Reviews and Poor Coverage: The heavy manual workload meant that nearly 100 credit reviews were past due at any given time , and many accounts were only reviewed every two years.
  • Sales Bottleneck and Revenue Risk: Delayed credit approvals led to prolonged holds on new orders, creating friction with sales teams and risking up to a 25% potential revenue loss from stalled transactions.

Business Benefits

  • 89% Reduction in Credit Review Time
  • 96% Increase in Annual Credit Limit Reviews
  • Zero Bad Debt for Four Consecutive Years across $72B in Receivables
  • 61% Faster Customer Onboarding
  • 2x Faster Approvals, 25%
    Sales Growth
  • 50% Reduction in Reference Aggregation Time
  • 40% Increase in Analyst Productivity
  • 400+ Hours of Manual Analyst Work Eliminated Annually
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