Credit risk

Blackline adds credit risk assessment to the platform

Noting that companies are increasingly concerned about their cash flow metrics, the financial operations management platform black line added new features that give organizations real-time insight into the risk profile and behavior of their customers.

The new Customer Attractiveness Scoring feature uses insights gained from the cash collection and handling process to help businesses identify customers who are at risk of delaying or not paying, Blackline said Thursday (October 13). Press release.

“Given changing global economic conditions, companies are under increasing pressure to maximize their cash positions, which means they are spending more time reviewing cash flow metrics, such as risk management. and collections management processes,” said Blackline Managing Director and Head of Global Accounts Receivable. Andy Lilley said in the press release. “In fact, we are now seeing executives being asked to report on cash flow and working capital as much as profit and revenue.”

Blackline’s new Customer Attractiveness Rating uses behavioral analysis to assess customer creditworthiness, according to the release.

With this information, companies can both reduce risk and identify revenue opportunities. For example, the product shows users customers whose scores have changed so businesses can identify those whose payment behaviors have deteriorated or improved. If a customer’s payment behavior has been consistent, the company may choose to change their credit limit, the statement said.

“With cash management more critical than ever, we’re seeing more and more customers turn to Blackline for intelligent insights, as businesses seek to leverage real-time data and powerful analytics to improve decision making. critical decision across the company,” Lilley said in the statement.

The PYMNTS study found that 26% of financial institutions (FIs) said real-time cash flow management was an issue for their corporate clients, and 7% said it was the most important issue. important.

Read more: “Seeing is believing” for corporate clients on cash flow and liquidity

To help solve the problem, 55% of FIs are working to find solutions that will give their clients a single view of cash for real-time cash flow management and forecasting, and 24% plan to do so. , according “The innovation gap», a PYMNTS and FIS collaboration.

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