Automated credit decisions

How much time do you need to prepare a credit offer and how much manual effort do you need to do this? Offers will probably not be prepared immediately and will require the efforts of at least one person.
 
Although most credit decisions are easy to make, they are nevertheless associated with increased personnel costs. Without additional employees, you can therefore only process a limited number. What if an AI solution could do all your simple credit decisions for you? You could increase your turnover without increasing your number of employees. This is where Bisnode's Automated Credit Decision solutions come into play - increasing sales and performance without increasing the use of resources or risk.

An example of the time effect

Let us make a simple calculation: If a company carries out 15,000 manual credit checks per year, this takes about 2,500 hours (10 minutes each). If the same company instead makes automated decisions with an automatic approval rate of 80 percent, it saves at least 2,000 hours.

 

Our Automated Credit Decision solutions are available as a complement to Bisnode RiskGuardian Suite, D&B Credit and D&B Direct for Finance. Click on one of the solutions below for more information or contact us today. The Credit Information Services are available via APIs and web services.

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Frequently asked questions about credit checks

How can the credit rating for individual companies or groups be checked?

In a credit check it is important to take account of corporate linkages. Some companies have locations in different countries that are not immediately obvious. However, financial difficulties in the international arena can also affect your business partners or customers in Germany. Bisnode has digitised economic data from more than 330 million companies worldwide, which also takes into account these risks and makes them manageable.

What advantages does a web application offer? What are the unique selling propositions compared to data delivery or integration via API?

The advantages are mainly the low onboarding costs. You will be able to access Bisnode's databases in no time and immediately get the information you need for your credit decision - simply and quickly.

Transforming data into decision-making tools: Is a valid credit risk assessment possible?

Intelligent and effective risk management includes the reliable credit risk assessment and credit check of your business partners. Valid data are necessary for this. As one of the leading European providers of high-quality business information, Bisnode is your competent partner for comprehensive risk management. With Bisnode's solutions you are well informed about the credit rating of your customers and are able to make automated credit decisions.

Can default risks be eliminated?

Bisnode’s credit checks help you to identify and avoid default risks at an early stage. As is well known, these credit risks are not limited to the individual company. Bisnode D&B Country Insights Services provides you with information from countries around the world, including data on social, economic, political and financial aspects of the home country of your potential new business partner. These services offer you as a decision-maker added value that should not be underestimated. In addition to data on the companies and individuals, you will also receive information on the entire economic environment of the future partners. Even with existing business relationships, you can search for a credit check in case of doubt, act proactively and optimise the accounts receivable management accordingly.