How CITGO Implemented Best-In-Class Credit Management Process with SAP and Off-the-shelf Standard Enhancements

Key Takeaways

Integrate real-time ERP data with your credit management process to make accurate decisions
Deploy credit rules to automatically calculate customers' risk score and credit limit to identify at-risk accounts and prioritize reviews optimally
Use credit workflows to improve inter-departmental collaboration and double productivity by eliminating communication bottleneck
Switch from a manual, reactive credit management process to one that is fully automated and proactive

Speakers

Julia Coussens, Sr. Information Analyst, CITGO Petroleum Corp.

Vikram Gollakota, Director of Solution Engineering, HighRadius Corp.

About The Webinar

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.

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HighRadius Integrated Receivables Software Platform is the world's only end-to-end accounts receivable software platform to lower DSO and bad-debt, automate cash posting, speed-up collections, and dispute resolution, and improve team productivity. It leverages RivanaTM Artificial Intelligence for Accounts Receivable to convert receivables faster and more effectively by using machine learning for accurate decision making across both credit and receivable processes and also enables suppliers to digitally connect with buyers via the radiusOneTM network, closing the loop from the supplier accounts receivable process to the buyer accounts payable process. Integrated Receivables have been divided into 6 distinct applications: Credit Software, EIPP Software, Cash Application Software, Deductions Software, Collections Software, and ERP Payment Gateway - covering the entire gamut of credit-to-cash.