Mayer Electric

Mayer Electric

"Cortera offers unique benefits that no other credit management solutions provider could present."

David Morgan, Chief Financial Officer

Challenge

  • Replace an existing manual process with an automated one that would create centralized credit application processing and apply a consistent credit policy
  • Reduce credit application turnaround time – potential buyers walked away rather than wait three days to have their account approved
  • Lower sales abandonment rates
  • Rapid business growth through acquisitions was putting a strain on customer service levels

Solution

  • Implement a web-based, real-time credit automation system from Cortera
  • Automate routine decisions based on Mayer’s credit policy through scoring and workflow
  • Accounts that require in-depth reviews are routed to analysts automatically

Results

  • “With eCredit our customers are not forced to wait for credit approval, and we expect our sales to increase due to the quick turnaround” – Brenda Lovell, Corporate Credit Manager, Mayer Electric
  • Credit application turnaround time was reduced from 2-3 days to 30 seconds
  • 98 percent of applications are automatically processed through Cortera’s eCredit software
  • “Since we have been live on eCredit, we have seen considerable gains in credit application turnaround time and in the quality and consistency of the decisions issued by our department.” – Brenda Lovell, Corporate Credit Manager, Mayer Electric