NEC Financial

"Cortera is one of the true innovators in our market. We've worked with them for years and I have only great things to say. Their new community approach to credit reporting is yet another example of their industry leadership." Tom Prendergast, Credit Manager

Challenge

• Replace existing, out-dated and cumbersome software
• Streamline credit decision and deal request workflow to improve turnaround time
• Ensure consistent application of NEC’s credit policies & better enforce corporate standards
• Eliminate excessive number of complex scorecards

Solution

• Implement Cortera’s eCredit web-based credit decision automation and analysis software
• Leverage multiple business credit information sources
• Automate NEC Financial’s credit policies in a centralized manner for consistent credit decisions and turnaround time across all analysts

Results

• “Exponential” improvement in credit decision turnaround time
• Reduced budget spend with previous credit bureau, while improving coverage with other bureaus
• Improved view of customer exposure across other NEC business units