Avoid Manual Processes
Most companies have insured buildings, machines and stocks. However, many forget to insure their receivables with clients. This is not wise as bankruptcy of just one major client can have huge consequences for the company. So if you have few, big clients or clients in particularly risky industries, a credit insurance can give economic security even if the client’s situation is economically instable.
Until now, the challenge of credit insurance has been the manual application process. For every client, one needs to log on to the insurance provider’s system, find the client, apply for credit insurance, wait for the email with information which then have to be entered into SAP. It is a complex process to apply for credit insurance and results in a long waiting time.
The manual process is unsuitable due to security and maintenance reasons. If you have developed your own solution for credit insurance, you are locked in to just one credit provider as the cost of switching to another provider is very high. In addition, you have to pay maintenance costs continuously.
This is why itelligence has developed it.credit as a fully integrated cloud solution that digitalizes the entire credit insurance workflow from A to Z. All applications for credit insurance is managed in one place – in the it.credit solution. Moreover, the credit insurances are automatically updated directly in the back-end system.
Automated Processes Increases Security and Saves Time
With the latest technology from SAP, it.credit easily and safely integrates data from the ERP system with different insurance providers at the same time. This makes it easy to compare and buy from different insurance providers. it.credit handles several policies at the same time, from different providers and different clients. This way, the solution eliminates manual errors and oversights.
All policies and credit limits are data controlled, and all information about expiration dates is automatically pushed to the company. This prevents a client from being accorded credit without insurance coverage. As a cloud-based solution, all updates of it.credit occurs automatically and without cost for consultant time, transport etc.
Do You Experience One or More of These Challenges?
- Applying for credit insurance is a time-consuming and complex process
- Manual processes regarding credit insurance cause errors and mistakes
- Lack of total overview and control of credit insurances, policies and prices
- High costs for development and maintenance of own software that integrates SAP with the insurance company
it.credit: How Can We Support You?
itelligence has more than 25 years of experience implementing SAP. As a full service provider, we deliver everything from design to implementation and operation. Furthermore, we continuously develop new products to support an efficient and optimal use of SAP. One of these is the credit insurance solution it.credit. We consult, implement and update new versions of the software directly in the cloud and we are always available for support.
Learn What Our Experts Say About Credit Insurance
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