We had a global solution with efficiencies of one system which enabled integrated external reporting, automated credit scoring, credit monitoring and currency conversion for financial statements.
For Tech Data, business credit management was essential for the ever-expanding business requirements. However, along with credit comes risk. Insurance availability was experiencing a crunch, and associated costs were on a constant rise. There was an imminent need for a Centralized Credit Management system.
North America Europe were on different Credit Management processes, and there was no global credit management workflow.
Interaction between multiple legacy systems posed a serious roadblock. Moreover, they needed continued IT investment and support.
For credit scoring, data was aggregated manually. There were no standard workflows for escalation. The system demanded large manual efforts with a semi-automated process.
Tech Data Corporation, currently ranked #108 in Fortune 500, is one of the world’s largest wholesale distributors of technology products, services, and solutions with $35 Billion annual revenue and 43 years of experience.
High Tech Electronics
Tech Data Europe was already using SAP but lacked centralized credit reporting in the region. North America had credit reporting but was not on SAP. Both North America and Europe moved to SAP and migrated credit processing to the Credit Cloud.
Built on SAP NetWeaver, the Credit Decision Accelerator provided real time data integration and automation for credit decisions.
One template, one solution for operations in all reporting regions
Smart, customizable workflows for delegation of credit approval and smooth credit monitoring operations
Automated credit scoring based on payment behaviors, risk scoring, and customizable credit models
Automated Aggregation of all necessary credit rating reports from agencies
The Credit Cloud module augmented with the added functionality provided by HighRadius’ Credit Decision Accelerator enabled Tech Data to move toward one global template for credit management across North America & Europe.