Credit Insurance Management for your SAP system

Automise and streamline your processes to help optimise the performance of your insurance contracts. Achieve paperless contracts and automatic fulfilment of obligations to avoid bad debts and safeguard your business.

Credit Insurance solution

Credit Insurance within Ready4 Credit Management allows you to reduce your administrative workloads whilst helping you to fulfil your credit insurance obligations efficiently. Fully integrated with SAP, our specialist insurance tool automates your credit processes to simplify meeting your insurance company’s obligations.

Automate all processes from application, handling and fulfilment of insurance cover to save you time.
Minimal manual/supervising work and fulfilling automatically all contractual obligations to protect insurance coverage.
Integration of your internal data from your SAP corporate system and external data from credit insurers into one solution to provide a quick customer overview.
Automated fulfilment of insurance duties for insurance cover and compensations in case of debt loss.
Paperless handling of insurance contracts, their obligations and deadlines for insurability in SAP.

One solution supports all your insurance credit tasks

Credit Insurance covers all your insurance credit tasks whilst seamlessly integrated in your SAP system. It allows you to integrate your internal data from your SAP corporate system and external data from credit insurers into one solution, to provide a quick customer overview and enable real-time insurance credit limit applications to the insurer.

Easily assign customers to the valid insurance contract variant.

Insurability check of invoices and orders in real-time.

Predict overdues and get in touch with debtors before you need to notify them to the insurer.

Capabilities

Every software component of our digital platform focuses on specific processes related to best practices on credit management, to support you at every stage. Ready4 Credit Insurance is designed for all industries and can be easily implemented within a short-time frame. Discover below what Ready4 Credit Insurance covers.

R4CM Credit Insurance software has been designed specifically to help you manage your credit insurance processes. With automated fulfilment of insurance duties for insurance cover and compensations in case of debt loss, it also gives you accurate historization, reporting and insurance performance evaluations.

Generates all necessary notifications to the insurer whilst keeping the history of all granted credit insurance limits.
Reduction in insurance fees by increasing discretionary-limits and notifying outstanding balances instead of revenues.
Request for further guarantees on time, when granted insurance limits are not sufficient.

FAQ

How can you protect your company from existence default risks?

As a general rule, in many companies 20% of customers bring 80% of sales revenue. It means, if any of the 20% fail, supplying companies will have a liquidity problem and in worse case scenario, may go bankrupt. The component Insurance Management in R4CM integrates trade insurance contracts with the financial accounting and order processing in SAP system, so that they can fulfill insurance duties automatically. Companies can furthermore connect online with a trade insurer of choice directly from SAP and request insurance cover to assure own liquidity flow.

How can you automatically fulfill your notification obligations under your trade insurance contract?

The component Insurance Management from R4CM enables the digital mapping of all insurance duties, terms and conditions in the tool with full integration of the accountancy and order processing in SAP. It checks insurability of all account receivables and even sales orders in real time, either by registering them in the system or updating existing ones based on current granted insurance limits and valid payment terms. The component also automatically delivers all required insurance notifications such as open balance amounts or sales revenues, overdue and non-payment reports and applications for insurance limit extension on time. It also provides an online interface to the major insurers for an unique customer identification and data exchange with the insurer.

How can you manage an internal additional limit when granted insurance limit is not enough?

The component Insurance Management from R4CM provides a report showing all customers that are about to exhaust the existing insurance limits and gives system proposals to apply for all limit extensions to the insurer through the online interface. The trade insurer may partially accept the requested insurance limit but it may not be sufficient to cover current credit needs. The component Insurance Management enables the entering of additional insurance cover such as topliners and any other internal granted additional limits with validity dates. A credit decision work-flow to approve additional internal cover is automatically triggered in the component Risk Management when the system detects that credit needs exceed available coverages.

Customer Stories

SAP - Credit Management Platform

Technical Wholesale

Meier Tobler

Managing customer credit risk using SAP credit ratings tool

Meier Tobler selects Ready4 Credit Management from SOA People to provide instant access to up-to-date solvency and payment behaviour information from leading credit agency Creditreform to help manage customer

SAP - Credit Management Platform

Technical Wholesale

Van Marcke

Credit management tools provide dispute efficiency

SOA People’s Credit Management Suite was chosen to provide vital data needed to help with its dispute management and shorten the DSO to improve cash flow

SAP - Credit Management Platform

Chemicals

Hüttenes Albertus

Early credit risk identified with SAP Credit Management tools

It was important for HA to identify credit risk early to limit bad debts. Credit Insurance, Risk Management and Credit Reports modules from the SOA People Credit Management Suite gave access to reliable data and instant reporting.

SAP - Credit Management Platform

High Tech

Panasonic

Ready4 Factoring Management helps improve working capital

Panasonic dealt with high volumes of invoices and its current system was mainly manual. Its Finance Team selected the credit management solution Ready4 Factoring Management to ...

Resources

Save time on credit risk assessments with process automation and gain access to real-time information.

It is becoming more & more important for companies to be able to do faster and more accurate credit assessments. By automating your manual credit risk actions you will improve efficiency, minimise errors as well as save time & operational costs