Public Sector - SAP - Credit Management Platform

ABN AMRO ASSET BASED FINANCE reduces debtor arrears by 30% with Ready4 Credit Management

ABN AMRO ABF needed an automated credit management tool that would help them quickly identify where they should put their efforts and focus, as well as giving them visibility and transparency in the credit management processes
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ABN AMRO Asset Based Finance N.V is a merger of two former leading asset-based finance providers, ABN AMRO Lease and ABN AMRO Commercial Finance and employs over 750 employees. Head Office is in the Netherlands, with offices in the UK, Germany and France, offering its clients asset-based lending expertise and providing flexible funding solutions whilst maximising working capital availability. Specialising in refinancing or recapitalisation, acquisition finance, asset-based finance and financial growth, ABF also aims to help customers finance sustainable assets and projects to support growth and innovation.

Benefits

  • Three modules from the Credit Management Suite selected: Cash Collection, Risk Management and Information Management.
  • Rapid project implementation within 3 months including online workshops and training.
  • Automated tool gives a complete overview of entire debtor portfolio to minimise credit risk and improve customer relations.

The Challenge

Many banks, including ABF, have offered payment breaks to businesses and entrepreneurs. This helped to reduce the risk of bankruptcy and to mitigate against business slow-down for their customers, thus supporting them through the difficult and uncertain Covid-19 pandemic.

ABF offered deferred payment options for six months (payment holiday) primarily to their B2B SME customers, particularly those with high levels of service and contractual needs. To handle the accumulated workload, credit and cash flow processes and process large volumes of incoming and default payments effectively within a short timeframe, the Credit Management Services Department at ABF needed an efficient and powerful tracking system for credit management.

The team were primarily using Excel Worksheets to track details of invoicing status at the customer level, but there were challenges in extending this reporting to enable a deeper overview at portfolio level.

Solution

As an existing SAP ECC customer and having worked with SOA People for 10 years, ABF selected SOA People’s Ready4 Credit Management Suite as the preferred solution over alternatives on the market. Three modules from the Ready4 Credit Management suite were chosen: Cash Collection, Risk Management and Information Management.

“In terms of the quality of delivery of Ready4 Credit Management, the project and engage-ment with SOA People was excellent and I would have no hesitation in recommending this advanced SAP credit management tool to anyone with the right SAP landscape.”