Business Information and Credit Ratings

Business Information and Credit Ratings

Identify Customer Risks Through Business Reports and Credit Ratings

Credit ratings and business information are a vital part of a modern credit management strategy since they provide insight into your business partners’ creditworthiness and their actual payment behavior. Based on this information, you will be in a better position to properly assess risks, make informed decisions and support important business processes in your credit, collections and supplier management as well as in your sales and marketing activities. External data – as well as the information you already have in your system – is the central source for determining credit scores and assessing a customer’s or business partner’s creditworthiness, making it the key pillar of your credit management. This will provide insight into the risk that is involved in giving credit to a certain customer and will be the determining factor of how much credit you are willing to give and how you can at the same time develop and enhance the relationship with your customer.

Integrating Business Information and Credit Ratings in SAP

There is a variety of different national and international providers of credit and business information. Based on their specific need, organizations are provided with valuable information that will help them smooth out their business processes: solid risk assessments for their credit and collections management as well as for optimizing their supplier portfolio and consistent data quality for marketing and sales campaigns.

 

While the products and services offered by rating agencies are highly beneficial, their lack of integration in SAP presents a considerable challenge. Companies have to request information using the Internet or a non-SAP software solution and then have to manually enter the information in SAP. Since most of these processes are handled manually, they impose an extra administrative and organizational burden on staff workload. This impairs the efficiency of their credit management and interferes with successful accounts receivable collections, all the while driving up the costs to their business.

 

SOPLEX offers modern software solutions that allows organizations to integrate their credit ratings and business information completely in their SAP systems. The integrated retrieval and management of business information plays a vital role in modern credit management processes and an efficient accounts receivable collection strategy.


Go to the Software section to discover our solution portfolio for managing credit ratings and business information.