After the “Credit Risk Management for China Domestic Funded Enterprise 2009 Forum”, sponsored by Sinotrust, was successfully held in Beijing and Guangzhou, the Shanghai Sub-session is launched on March 20.
The forum addressed the current demand on credit management in China. The senior experts at credit risk management from COSCON, AstraZeneca and Ping An Insurance and other organizations together with the forum organizer Sinotrust comprehensively and intensively explained credit risk management to attendees from chemical, logistics, pharmaceutical and electrics industries. The explanations center on the current status, future trend, advanced management methods and tools, successful experience and cases, and other core topics of credit risk management of Chinese domestic-funded enterprises and approached from multiple aspects, such as: the improvement and internal coordination of corporate credit management system, collection of customer credit information and the collection flow of accounts receivables.
The credit-related issues are always concerned by the public for a long period of time. From a lot of arrears with bad intention and deceit exposed by the media from time to time, we could see that the credit economy is constrained by the lack of social credit system. So, Chinese enterprises are facing the dilemma of seeking the balance between business growth and risk control. As pointed out by Shen Zhiping, the Credit Management Department Manager, Senior Credit Management Specialist and Chief Director of AR Office from COSCON, the enterprise shall solve the capital chain-related issues through the control of both funds and costs as well as establish the AR check system, the account age analysis system and the system of receivables on demand. Also, Huang Derong, Deputy Chief Director of Commercial Department from AstraZeneca (China), indicates that the standardized credit management guarantees the healthy and fast growth of enterprise’s sales. In addition, the enterprise’s competitiveness could be effectively improved through proper use of credit management tools.
Then, what kind of credit management system is suitable for the self development of enterprises? Li Jie, Consulting Director of Sinotrust Business Information & Consulting Services, introduced, the credit management consulting services of Sinotrust can help enterprises establish a set of operable system. The consulting steps are: diagnosis of credit risk, establishment of a credit management organization, design of a credit management flow, development of a credit evaluation model, and formulation of a credit policy. After the establishment of a credit management system, the enterprise should be provided with scientific and efficient credit evaluation and risk prevention tools. Sinotrust pointed out: “Risk index report is such a product. On the basis of application of world leading rating technology, through the comprehensive evaluation of the indexes of corporate scale, profitability, operating capacity, solvency and development capacity, it can more accurately evaluate the bankruptcy risk of the enterprise. Credit monitoring is another effective tool. By it, an enterprise may obtain the negative news report, court record and corporate change information of the target company and comprehensively understand the operation and reputation of this company.
The credit management of an enterprise runs through its whole business process, from customer contact, negotiation, contract signing, shipment, payment reception and debt payoff. This business process involves management of customer files, customer decision-making and model setting, management of accounts receivable and other credit management links. On this basis, Sinotrust developed RiskManager to help enterprises with full-course credit management. As introduced by He Xiaocai, Senior Product Manager of Software R&D Center from Sinotrust, RiskManager possesses the functions of customer file management and customer group analysis. These functions can fully integrate customers’ credit information and data and help establish a company-wide customer file database; in addition, the credit decision making management module can select different rating model, quota model, duration model and standardized examination and approval flow based on different customers. These functions are all very helpful and attractive to enterprises.
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About Sinotrust Business Information & Consulting Services
Sinotrust is a leading supplier of business information & consulting services. We provide company credit reports, database products, industry information and database technology services, and help you make informed decisions in credit management, marketing and sales development, industry analysis and competitor monitoring.
About Sinotrust
Sinotrust is a leading supplier of marketing solutions and credit solutions in China. We collect, analyze and manage information about markets, consumers and businesses to provide marketing research, business information, consulting and database marketing services through integration of information, services and technology. Our products and services help you make better marketing and credit decisions and develop profitable customer relationships. Over 80% of the Fortune 500 companies operating in China are using different products and services of ours.
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