Platforms
Until recently most companies have relied upon monthly credit management reports, often compiled manually by collating data from different systems within their business. Accuracy is often difficult to ensure, and the “latest” report can be up to 30 days old.
More and more companies are telling us now that this is not enough. You may consider that your own systems can provide what is required. Or you may want Co-pilot to advise you upon the available platforms.
We have considerable knowledge and experience of these solutions and can provide independent advice on the most suitable platform and internal issues to consider before, during and after implementation.
Why web-based (Software as a Service – “SaaS”)?
- Web-based platforms can work across a variety of accounting systems that may exist within your business
- In-house systems development is usually an expensive, and time consuming process. There is invariably a committee involved and compromises have to be made on functionality. In-house functionality often ends up “frozen” – no more functionality reviews for a considerable period
- SaaS means:
- You get “90%” of the functionality you need at day one (you’ll never get 100% - but you probably wouldn’t in an in-house application either)
- It can be up-and-running within weeks
- Plenty of opportunity to tailor the solution within its framework
- The service provider has a vested interest in improving his product – which means you should get regular enhancements to functionality in accordance with
customer feedback (but remember – enhancements will be generic – SaaS is not a bespoke application)
- In our experience there is a growing perception that SaaS is the way to go
Such platforms have been a key part of Co-pilot’s focus and we can advise you on the available solutions, working with you from initial consideration through to implementation. Good solutions can be found whether you:
- Wish to assess risk internally – or require 3rd party support
- Wish to use a global information provider, or best practise local providers for your “volume” risk assessment
- You credit insure, or choose not to (we will work with your broker in aligning to your insurance policies – amongst other things helping you minimise non-compliance risk)
Because these solutions are web-based they do not entail a major systems implementation or Cap ex