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ABN AMRO Asset Based Finance secures powerful solution to improve its credit management processes with Ready4 Credit Management

Paul Smitherman |

ABN AMRO Asset Based Finance (ABF) has selected Ready4 Credit Management to help improve efficiencies within its credit management processes and manage its credit risk during the Covid-19 crisis.

ABF is made up of two leading asset based finance providers, ABN AMRO Lease and ABN Commercial Finance and employs around 700 employees. Primarily based in the Netherlands, with offices in the UK, Germany, France and Belgium, it offers clients asset based lending expertise and provides flexible funding solutions whilst maximising working capital availability. Specialising in refinancing or recapitalisation, acquisition finance, asset based finance and finance growth, ABF also aims to help customers finance sustainable assets and projects to support growth and innovation.

Due to the current Covid-19 situation, ABF suspended all customer invoices over an extended period, generating over 12,000 invoices that required payment once normal services resumed. ABF knew it was crucial that there was an efficient tracking system in place to handle the accumulated workload and realised that it didn’t have the necessary tools to process large volumes of incoming payments or default payments effectively. ABF needed a powerful solution to assist with its credit and cash flow processes within a short time frame and selected Ready4 Credit Management with its 3 modules: Dispute Management, Risk Management and Information Management.

This credit management suite will easily integrate with ABF’s existing SAP ERP and improve the quality of data across all departments. ABF will have a clear overview of unpaid invoices and unmanageable DSOs, an insight into past customer performance and access to customer risk rating reports. In addition, the new system will ensure a reduction in errors, issues and customer complaints which will improve customer engagement and help the company’s cashflow due to more payments being made on time. It will also lead to better communication between departments allowing the credit management services team more time to concentrate on its core business.

Ready4 Credit Management fits perfectly with our business goals and being integrated with our current SAP ERP means we can keep our existing SAP database which was very important to us,” explains Theo Mol, IT Engineering Lead, ABN AMRO ABF.   “We are confident that we can now deal with large workloads and can reduce our DSO and credit risk. We chose SOA People because we knew they could deliver this flexible solution quickly, without a long training period and it could be customised to our individual business needs.”

Jorg Setz, Sales Manager at SOA People adds, “We have been working with ABF for 10 years and are really pleased that we can support with them on this project too. These challenging economic conditions meant that ABF needed to re-evaluate how it carried out its credit management processes and effectively engage with its 13,000 customers. We believe Ready4 Credit Management will ensure ABF can minimise its credit risk whilst improving customer relations.”

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