Article Abstract:
Intensifying competition for credit customers and the growing demand of these customers for fast and fair service make it essential for credit managers to adopt product delivery systems that are speedy, comprehensive in their risk analysis and cost effective. The newly developed risk processing system meets all these criteria. The risk processor was designed to generate immediately a comprehensive risk evaluation of all the credit-based products and services that a credit professional markets. The system's main function is to match credit applicants to the products or services for which they qualify. Cash flow, debt-to-credit line, debt-to-income and current customer relationships are just some of the areas that the risk processor evaluates. This technology permits professional risk managers to monitor and modify their approach to risk management according to product and market segments.
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Article Abstract:
Retailer Dayton Hudson has installed American Management System Inc's on-line Automated Credit Application Processing System (ACAPS) in 37 stores in seven states. The system increases productivity in areas of credit authorization, bill adjustments, and new accounts. It utilizes two credit scoring models for quick and accurate assessment of applicants' creditworthiness, and for setting appropriate credit limits. ACAPS makes possible improved control of operations and enforcement of overall credit policy throughout the store network, and its reports help managers analyze data more effectively and make better decisions. An example illustrating how Dayton Hudson's staff uses ACAPS to process instant credit applications by telephone is presented.
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Article Abstract:
Organizations can benefit from the in-house retrieval of credit reports. Reports can be retrieved in-house through the use of a PC or dedicated credit terminal with access to a credit bureau's reports. Automatic credit retrieval systems are even more effective than either software systems or manual systems. The factors to consider when selecting a credit retrieval system include the number of credit applications processed per day, the availability of technical support, and the types of special features that will be required. The advantages of in-house credit reporting include decreased costs, increased security for consumers, and time savings.
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