Air Products and Chemicals, Inc., a $10.4 billion conglomerate, has operations in over 50 countries and 30 diverse markets. The credit team manages credit for more than 125,000 business partners. The team was faced with several challenges in credit operations. Manual scoring and review of credit, unstructured credit approval workflows, and inconsistent risk were limiting their ability to process requests efficiently.
To improve the efficiency of the credit team and achieve consistency with the Global Credit Policy, Air Products completely overhauled their credit management operations with enterprise systems and value-add automation. As a result, they successfully reduced operating costs and DSO by moving away from manual operations to adopt credit management automation.
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.
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We have seen financial services costs decline by $2.5M while the volume, quality, and productivity increase.
Colleen Zdrojewski
Trusted By 1100+ Global Businesses
