Corporate Credit Manager, Full System

Business Credit, May 1992 | Go to article overview

Corporate Credit Manager, Full System


As with most credit departments, we formerly used an internally developed financial spreadsheet program. This program operated as a stand-alone item and provided limited analysis on a client-by-client basis with no information concerning overall credit quality or the benefit of any comparative analysis within customer groups.

Driven by a need to standardize credit approval routines and flexibility for future operations, we reviewed the Corporate Credit Manager (CCM) in January, 1989. After intensive analysis of the CCM software and its capabilities, our company decided to purchase the software package. The principal reasons for selecting CCM were to provide a uniform format for financial statement presentation; uniformity in the financial statement and credit evaluation process; a rating system free from individual bias; ability to quantify and rate non-financial factors uniformly across all customer classes; and, the ability to maintain a portfolio of information on our customer base to detect trends and track financial performance.

Another reason we chose CCM centered on the ability to network the entire financial analysis function. While our network supports graphics, spreadsheets, word processing, and a mainframe connection, we also have off-site call-in access and service support from CMS because our network supports a dial-up facility.

A separate one-day executive overview and algorithm development session was held prior to the actual systems training. The initial one-day session was essential for the successful implementation of CCM and provided management with a better understanding of CCM. It also laid the ground work for the scoring models.

The initial training provided by CMS consisted of two days of on-site, hands-on training for users. The sessions were comprehensive and dealt with real-life examples and uses of the system. The trainers were excellent and provided not only outstanding knowledge of CCM but also of the credit manager's function.

The training manuals were informative, helpful, and easy to follow. After purchase support has also been excellent. CMS has been responsive to our needs, and with the dial-up capability, any problems can be quickly solved with little interference to our daily routines.

Equally important has been the user group meetings, newsletters, and upgrades to CCM. The user forum meetings provide not only refresher training and new product development features but also bring users together to exchange ideas and techniques. Many of the ideas exchanged at the group meetings eventually lead to upgrades and improvement to CCM. …

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