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Rental - SAP - Credit Management Platform

Credit Management Suite optimises cash collection processes

Boels Rental has selected Ready4 Credit Management to automate credit risk and optimise cash collection processes to support its growth and to help with faster, more accurate decision-making using real-time information.
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Boels Rental is a leading Rental provider of equipment and tools in Europe, with over 650,000 rental items for hire from scissor lifts to cranes. It has a network of 750 local branches in 18 countries, serving 260,00 customers in a wide range of sectors including construction, infra, industrial, offshore, warehousing and events.

The Challenge

Growing rapidly, Boels Rental needed an up-to-date system that could handle and process high volumes of risk assessments for new and existing customers.  It also wanted to support its Accounts Receivables Department by reducing its manual tasks and  automate the workflow processes as well as improving its cash collection processes to reduce the amount of bad debts that had to be written off.

Solution

Boels Rental selected four modules from the Ready4 Credit Management Suite: Dispute Management, Cash Collection, Risk Management and Credit Reports to support its Accounts Receivables department.  . The automation of the whole credit management process has increased efficiency by providing real-time accurate data on customers and provided dynamic dashboards to give a clear overview across the company.

Benefits

  • Dashboards provide easy access to the tools, giving better visibility and control across all departments.
  • Faster response times to deal with outstanding debts.
  • Central dashboard ensures quicker, informed risk assessments and credit decisions.
  • Better insight into customer performance and fast access to customer risk rating reports.
  • Automated tools dramatically reduce errors to ensure better customer engagement.
Having initially seen a presentation by SOA People of these credit management tools, I was convinced that they would deliver what we needed to achieve and importantly would fully integrate with our existing SAP systems