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Although credit insurance is a fundamental component in managing credit risk for
many businesses today, the application of discretionary limits at the lower end
of the credit portfolio calls for the credit manager to juggle online credit
reports with paper based policy rules in order to avoid non-compliance which
could make the policy null and void.
Recognising the problems that this can create for credit managers and financial
directors, credit information specialist Equifax has developed Equifax Ensure,
the first integrated discretionary limit management system.
The system combines portfolio monitoring and credit limit updates with the
policy rules of the credit insurer to provide a new level of confidence for
businesses keen to ensure compliance with detailed policy rules.
It fits
seamlessly into Equifax’s existing Portfolio Monitoring service, providing the
following important time-saving and credit control benefits.
Nick Frazer, Sales Director, Equifax Business Information Services commented:
“With time at a premium, credit managers and financial directors can find
managing discretionary limits frustrating.
"Equifax Ensure provides a unique
on-line tool that allows credit managers to easily manage their credit portfolio
to the insurers rules, reducing the time, money and resources needed to ensure
that a business’s lending decisions satisfy insurance policy rules.
"The speed, flexibility and reliability of Equifax Ensure frees up time for
credit managers and finance directors to concentrate on other vital areas of
credit management.
"Ensure is just one of many online credit management solutions available from
Equifax”.
Source:
Credit Control Journal
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