CITGO, an oil refineries operator and the brand behind 6000 locally owned CITGO stations across the country, streamlined their systems with SAP. However, the credit department was not satisfied with the limited functionality in the standard SAP credit module. As a result, the core credit processes were still manual, interdepartmental communication was a challenge, and enforcing policy and compliance was an issue. The resulting inefficient credit process was causing unnecessary delays, cost, lost opportunities, and high DSO. To overcome these problems and streamline their credit process, CITGO chose to enhance the standard credit management module with SAP-certified standard automation enhancements.
Learn how CITGO was able to improve risk management and enhance efficiency using SAP Credit Management and automation. Also discover the tools and methodologies CITGO employed to deliver a successful implementation of credit management, both on-time and on-budget.
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.