Ryder Rides to Lower Risk with Cortera

Ryder

"Since deploying Cortera's eCredit solutions, Ryder has reduced the risk level of its customer portfolio by 5 percent...we are experiencing the lowest write-off volume in six years."

Douglas Hansen, Director of Receivables Management

Challenge

  • Improve profit margins in the company’s truck leasing business
  • Increase number of approved lease customers without taking on additional credit risk
  • Eliminate manual credit approval process
  • Pave the way for new e-Commerce channels

Solution

  • Implement Cortera’s real-time credit scoring application eCredit with automatic risk-adjusted pricing
  • Provides two automation services-real-time verification checks with links to credit reporting agencies and real-time credit scores that reflect Ryder’s own credit management policy

Results

  • Reduced risk level of the customer portfolio by 5 percent
  • Increased sales with lower risk and increased profitability
  • Ryder’s 800-person sales force can now submit requests directly from their PCs and receive risk-adjusted pricing in about a minute
  • With the instant credit checks, our sales people now have the ability to close deals with customers at the point of contact
With the instant credit checks, our sales people now have the ability to close deals with customers at the point of contact,” Nelson stated. “This is a competitive advantage that allows Ryder to write extra business.”