This product is an alternative to the credit insurance and allows considerable decrease in expenses for clients’ evaluation, monitoring their solvency and default management. The product is aimed at companies with constant clients, providing relatively large trade credits and seeking to optimize their business processes in the area of credit risk management.
Credit management system is comprised of:
1. Statistical and expert evaluation of client’s credit risk:
- Probability of default and risk class
- Credit limit
- Basic information on customer
2. Monitoring of the client’s solvency:
- Monitoring of negative changes
- Re-evaluation of probability of default and recalculation of credit limit
3. Administration of late-payments:
- Reminders and notifications administration (early phase of collection)
- Debt collection (late phase of collection)
Uniqueness of the product:
- System
You will receive an access to the System online to be able to make real time queries on companies’ solvency evaluation and see evaluation reports and evaluation status on companies concerned. In addition, you will access information on changes in companies’ solvency. Furthermore, you will be able to generate a reminder to the clients on their late-payments in a few seconds.
- Client evaluation
Evaluation is conducted according to the rating model, which corresponds to the international banking requirements and is statistically reliable and supported by scientific methods. The model involves all available statistically reliable factors having influence on companies’ insolvency, which allows more precise calculation of credit limit. New companies and companies with higher credit risks, as well as individual companies, which are not required to submit their financial reports, are evaluated applying expert model.
Combination of statistical and expert models is the most effective tool for credit risk management.
- Client monitoring
Monitoring is not limited to information on debts. It also includes reductions of income or employees’ numbers, changes in company’s legal status and activity address, etc (more than 20 indexes are monitored). If any other Lithuanian company enquires on your client, this information will also be provided to you. This will allow you receiving the most updated information on your clients, monitor changes in their status and promptly react to them.
In case of negative new information, client’s solvency will be reevaluated. Thus you will have tools for more rational decision making on further credits to your client.
- Administration of late-payments
Main advantage of the system in current stage is its flexibility: you will require several seconds to prepare a reminder with templates prepared by Creditinfo Lietuva, keep the history of reminders of each one of your clients. Finally, you will become a member of SAIS system and be given with an ability to submit data on your debtors to SAIS thus collecting debts without any “success” or administration fees.
Please contact us for further information on +370 5 239 41 31 or E-mail info@creditinfo.lt.