Boels Rental improves its credit risk management processes

    Paul Smitherman |

    Boels Rental implements Ready4 Credit Management to help reduce its credit risk assessment workload and optimise its credit management processes to improve efficiency.

    Boels Rental is a leading player in the European rental market following its acquisition of Cramo in February 2020. It has been one of the fastest growing rental companies since 1977, doubling its business every 5 years. Together with Cramo, Boels Rental is now active in 17 countries across Europe with over 750 depots. The combined organisation now has an annual revenue of 1.3 Billion Euros.

    The successful growth of Boels Rental has meant the Credit Control Department is handling and processing a high volume of Risk Assessments for both new and existing customers. One of Boels Rental’s key objectives was to reduce the workload when analysing these risk assessments by improving its processes. Boels Rental required an excellent proven solution to assist with reaching its goals and selected Ready4 Credit Management with its three modules: Credit Reports, Risk Management and Dispute Management.

    This credit management suite will integrate seamlessly with Boels Rental’s existing SAP ERP and will optimise its credit risk processes to improve efficiency. The company will not only have a clear overview of its risk assessments, but will also have an up to date insight into past customer performance as well as easy access to customer risk rating reports. Ready4 Credit Management will also improve customer engagement by ensuring a reduction in errors, issues and customer complaints which will ultimately increase the company’s cashflow due to more prompt payments by its customers.

    Miranda Roijakkers, Manager Credit Control, Boels Rental. “Our rapid growth meant that we needed to quickly find a solution to help mitigate our credit risks with customers. Implementing Ready4 Credit Management with SOA People will ensure that our credit risk management processes are faster and more accurate to ensure that we make the right credit decisions.”

    Chris Kolder, Account Manager Credit Management at SOA People, “We are very excited to welcome Boels Rental as a new Credit management customer. SOA People believes that its Ready4 Credit Management solution will ensure Boels Rental can not only reduce the Risk assessment workload by automating the manual actions to manage its large customer base, but will also minimise the credit risk whilst improving its customer relations. We are looking forward to successfully optimising Boels Rental’s Credit risk and Cash collection processes.”

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