Jacobus Energy Fuels Up with Cortera

David Schier, Credit Manager, Jacobus Energy

“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)
  • Risk-based collection automation strategies driving collection activities
  • Automated decision processes have reduced credit request turnaround time to minutes

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