“Back to the Future” in Credit Management

Marty McFly would recognize today’s business credit applications as going back to his grandfather’s generation. Little has changed – until now, that is.

The Credit2B ECOS™ Platform  changes all this, as it completely automates and accelerates the on-boarding of new customers, even integrating industry sector trade, customer trade references and  credit bureau data, and delivering a complete “decision file”.  ECOS is a reinvention of  the manual credit processes that have not changed in many decades.   

In short,  ECOS automates and integrates all aspects of the B2B new customer on-boarding process:

• Beginning to end decision workflow: Customer -Sales – Credit
• Applications, Guaranties and Compliance Agreements, digitally signed and filed
• Financial statements
• Customer Credit and Bank References
• Industry trade experiences
• Major credit bureau information
• Liens, Filings, etc.
• Optional bureau analyst guidance
• Automatic credit review followups

The objective ofECOS is to eliminate the convoluted process and time-consuming work of on-boarding new customers, accelerate the approval of new customers, improve compliance and results, while slashing related overhead costs. TheECOS process starts with the new customer, who inputs and upload the information needed by the creditor, even digitally signing any required documents. All information and documents are retained in a secure file, plus uploaded to client.

In a survey of fifty clients, Credit2B found that over 80% expended significant sales effort, in addition to the credit department for processing  new account applications, with excessive on-boarding delays often as ,long as one or two weeks.  

Credit2B has partnered with Experian and Equifax for integrated bureau data, Docusign e-sign for enforceable digital signatures, and Dow Jones for corporate sanctions compliance, and from the Credit2B network extensive industry viewpoints and trade experiences.

Benefits include:

• Remarkably faster customer on-boarding, and slashed overhead
• Reduction of errors and re-work
• Eliminate paper with secure digital files  
• Client customized branding
• Automatic scheduled renewals
• Eliminate wasted sales representative time
• Custom workflow and follow-up timelines

For information, contact info@leibsolutions.com, and we’ll put you in touch.

(Note: Credit2b.com is one of our affiliated companies)