XTRA Lease Drives Customer Service with Cortera

“Cortera’s technology and information are very strong, but what really distinguished Cortera was that I knew their people understood credit.”

John Pomilio, Vice President, Customer Financial Services, XTRA Lease

Challenge

• Consolidate customer information from two accounts receivable systems to create one web-based centralized credit file
• Eliminate inconsistencies in the commercial customer account scoring process and create new efficiencies
• Gain a better view of customer exposure
• Lower information costs

Solution

• Implement Cortera’s eCredit web-based credit automation and portfolio management solution to automate most credit decisions using the most up-to-date information from multiple providers
• Workflow automation to assign exceptions
• Cortera credit reports and scores
• Business hierarchy information from Cortera to roll-up exposure and credit lines

Results

• Near-instantaneous credit request response rates
• 24 hours a day, 7 days a week availability – managers need only a laptop and a connection to the web to access customer credit data
• Credit requests received directly from a branch have been reduced to less than one minute
• Information costs reduced by 60 percent
• 50 percent decrease in over-credit limit accounts
• “A Tremendous ROI”: break even on the Cortera investment within the first year