Magazine article Business Credit

Experian Outperforms Other Commercial Data Providers in Heat-to-Head Test Conducted by eFinance Corporation

Magazine article Business Credit

Experian Outperforms Other Commercial Data Providers in Heat-to-Head Test Conducted by eFinance Corporation

Article excerpt

Client

With headquarters in San Francisco, Calif., eFinance Corporation (www.efinance.com) is a privately held company led by seasoned professionals with extensive experience in credit, financing, risk management and technology. Founded in 1999, the company provides innovative solutions to enable its clients to quickly and accurately gauge the financial soundness of their customers at each step of the financial supply chain.

The solutions provided by eFinance strengthen the credit evaluation process and enable customers to better manage transaction workflow. Customers leverage eFinance technology to increase revenue and profitability, while expanding their end customer base and improving customer retention and satisfaction.

Finally, to gain results quickly, eFinance applies a four-step process. These steps include:

1. Identifying particular challenges and needs

2. Designing a solution

3. Executing the plan of action

4. Providing ongoing delivery of products and services

eFinance's goal is to help its clients make better choices about which companies they do business with and on what terms.

Challenge/Objective

A publicly held real-estate company was struggling to obtain high-quality data about its small-business clientele. Managers needed to better assess and manage their risk by dramatically improving business decisioning processes from beginning to end.

Unfortunately, a lack of current data about its customers had left the real-estate company vulnerable to negative changes in their respective business cycles. Without up-to-the-minute knowledge of negative indicators, such as if one of the customers in its portfolio had filed for bankruptcy, the real-estate company was essentially operating in the dark and occasionally had been blind-sided as a result.

While credit checks were performed when customers were initially qualified, no formal periodic review of the firm's entire portfolio was conducted. Clearly, there was an opportunity for a systematic approach to be put in place to evaluate new customers and to continuously monitor existing ones.

In short, having greater knowledge would be the key to determining pricing terms, such as matching payments to risk levels, approving or denying requests for more business, managing cash flow and recovering receivables faster. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.