CreditMatrix risk management workbench is an electronic office for the risk manager.
Over 90% of the risk managers’ otherwise disparate activities (some extensively manual)
can be done in the workbench.
The workbench also presents a dashboard that reports dynamic
metrics of key credit risk management indicators.
»More about the Credit Risk Management Indicators Dashboard?
Doing what risk managers do effectively
The workbench is an electronic office environment that enables the Credit
Risk Manager to accomplish daily task with increased speed. For the most part,
the Credit Risk Manager needs to only indicate what needs to be accomplished
and the workbench intelligently takes care of the dreary details.
Manage Operational Credit Risk
CreditMatrix offers a complete toolkit for managing the operating credit
condition of a customer’s credit facility
By CZ Risk Status
The CZ Risk Status measures the operating credit condition or risk of a customer account.
An account’s risk status can be any of the following:
- Current (no past dues)
- Critical (past dues on the account beyond a defined threshold – see Business Process Model)
- Collection
- Chapter 11
- Bankruptcy
- Account-In-Dispute, etc.
A risk manager can affect the operating credit risk of an account by setting
the applicable risk status on the account.
CreditMatrix automatically determines and updates the applicable bad debt provision on
an account using the risk status. The Risk Manager has the option to override the
auto-determined bad debt provision on a customer account.
The Risk Manager may choose to review or print out a risk status report for all customers in his/her portfolio at any time.
Capture and update risk evaluation data
With CreditMatrix, the Risk Manager can update a customer’s evaluation data manually or have CreditMatrix
load the required evaluation data automatically from a third party service provider
(see Financial Statements auto-load and Instant Decision Manager). Risk evaluation data include:
- Financial statements.
- Qualitative data derived from questionnaires that assess a customer’s business
profile and customer credit data from a Credit Bureau.
- Internal customer credit data from your organizations enterprise system.
Evaluate and approve credit
With CreditMatrix, credit evaluation and approval happens in a matter of seconds.
More significantly, the risk manager can perform this task anywhere, anytime with
internet connection. CreditMatrix maintains an audit trail of credit approval activities for future reference.
Manage customer account set up
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Organizational Linking - Link related companies that do business with your organization.
Relationships can be subsidiary, affiliate or parent. CreditMatrix uses the organizational
linking relationships to dynamically compute and report credit exposure on a group of companies
to which a customer company belongs.
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Assign accounts to portfolios - Every account is associated with a portfolio.
The Risk Manager can assign and re-assign a customer account as and when needed.
Make notes and manage credit issues
See Paperless Customer File and Credit Issues Management..
»More about the Credit Risk Management Indicators Dashboard?