Key Benefits of extraction technology
- Automation makes the process faster and more accurate for lenders.
- Detailed reports on newly calculated reserves can be shared with customers.
- A risk-based approach to oversight and approval can be adopted, freeing up management time.
- The metrics drawn from the process can produce enhanced risk analysis based on item level data.
- Speed up on-boarding.
While the above improves efficiency and customer experience, the same technology can also be used to speed up new customer acquisition.
Using the same technology, a potential customer’s sales ledger can be quickly analysed, to show the ageing, top 10 debtors, concentrations, debt turn and dilutions. This allows a quick decision on proceeding and can give the prospect an illustration of funding available – an immensely powerful sales tool.
To find out more about improving Invoice Discounting processes please contact Andrea Tanner, Client Director on firstname.lastname@example.org or call 01444 19 460 and discuss your risk management needs. Andrea has over twenty years of experience working in banking and dealing with risk management. Take advantage of her expertise and book a short demonstration of EQ Riskfactor.