Sun Shines with Global Credit Automation from Cortera

"Cortera's eCredit software was best tailored to meet the needs of our distributed credit department, and it exceeds our expectations for the flexibility and power it delivers."

Kevin Corcoran, Sun Global Credit Architect

Challenge

  • Centralize the policy and process control of credit decisioning given a diverse customer base
  • Increase Sarbanes-Oxley compliance
  • Decrease credit decision turnaround times
  • Lower global information costs, while improving coverage and quality
  • Enable centralized global credit risk exposure management

Solution

  • Implement Cortera’s global credit management platform, eCredit®, in order to build and enforce local credit policies
  • Automate 80% of credit applications through Sun-specific workflow automation
  • Renegotiate contracts with existing data providers and include new regional sources for better coverage
  • Implement Cortera’s business hierarchy information and technology

Results

  • Credit processing time is now 2-3 minutes per customer
  • Credit staff is now able to focus on more high risk, high value accounts
  • Standard credit policies and increased documentation capabilities let credit analysts easily track how decisions are made and flag problematic accounts for periodic review
  • Rules now recommend the highest possible limit, eliminating some of the subjectivity involved in approving credit lines and helping target those accounts that have the capability to generate more revenue without risk
  • Communication is now streamlined across the globe
  • A single view of customer exposure enables improved credit limit management

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