“We wanted the best credit and collections software to manage the relationships we’ve developed over the last 80 years and Cortera continues to deliver the fullest range of features and functionality we need.”
David Schier, Credit Manager
Challenge
The company had outgrown an existing manual collection process of generating lists of delinquent accounts
Need to lower Days Sales Outstanding (DSO)
Goal of improving collection performance without adding headcount
Growing portfolio due to company acquisitions
Solution
Implement Cortera’s eCredit web-based credit & collections automation to automate credit decisions as well as collections strategies
Leverage Cortera CPR Reports and Scores for upfront risk decisions
Use Cortera CPR segmentation to determine dollars at risk for optimized collections strategies
Utilize business hierarchy information from Cortera to roll-up exposure and credit lines
Results
Jacobus was able to reduce the over 30 day past due balances from roughly 8.9 percent to 3.3 percent
Corresponding reduction in DSO from 27.3 to 20.2 days (typical terms are Net 15)
Automated decision processes have reduced credit request turnaround time to minutes
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