|
PayNet Announces New Tool for Senior Management to Monitor their Credit Granting Processes
Skokie, IL, February 1, 2004 PayNet announces the release of a new tool to help senior management review and evaluate the credit granting process within their organization. Available to all PayNet member companies, the Credit Control ServiceTM is created monthly to identify high-risk transactions that were booked by lenders during the prior month.
PayNet uses its database of more than $235 Billion in equipment finance transactions to identify borrowers that have defaulted on prior payment obligations with other lenders, and those that have a high probability of future default based on their PayNet Rating, an empirically-derived, statistically sound score developed exclusively from commercial equipment finance.
Developed by a former chief credit officer, the Credit Control Service enables credit management at PayNet Members to identify questionable transactions making it possible to address disconnects between credit policy and credit practice. Early detection allows managers to close the gaps before the number of undesirable deals booked becomes significant.
Even in those cases where extenuating circumstances such as strong balance sheets, recourse and the like, make such transactions acceptable, the Credit Control Service is an effective tool for identifying, reviewing and tracking these gray-area deals giving PayNet Members better control over the credit granting process. The report is available electronically each month to Members of PayNet. For trial access please contact Membership at 866-825-3400 or email membership@paynetonline.com
|
