Study: Axesor and IDC identify credit risk management challenges
Axesor was IDC's specialized partner for a study aimed at identifying Portuguese companies' concerns about Credit Risk Management. The initiative came from a survey addressed to those responsible for Financial and Credit Management in the largest organizations in the market.
(Oeiras - October 24, 2018) - The Axesorin partnership with IDC, brought together Finance Directors from some of the country's leading companies for the conference "Corporate Credit Risk Management - Challenges and Solutions"The event took place yesterday in Lisbon. The aim of the initiative was to present the results of a diagnostic study of the situation of companies in relation to their concerns about Credit Risk Management, carried out among decision-makers in the largest national organizations involved in Financial Management, Customer Management, Credit Management and Information Management.
Developed for the first time in Portugal, the initiative aimed to identify the challenges associated with Credit Risk Management, as well as the maturity of the practices and tools implemented in this area, and to answer the question: Can new technologies, incorporating more and more "intelligence" and automation, make the difficult task of managing credit risk easier and help increase business performance?
The recessionary climate of recent years, caused by the international financial crisis and the sovereign debt crisis, has seriously affected the economic activity of companies in Portugal, particularly through the growth of private company debt.
In this context, the majority of national organizations already classify customers according to credit risk (68%), although a third of the companies analyzed still opt for "artisanal" management of granting credit to their customers. Only a minority of national organizations (15%) already implement a specific analytical application for credit management, the study reveals.
Technology based on complex data analysis can, on the one hand, help the decision-making process and, on the other, automate business processes. The evolution of Business Analytics has made it possible to implement more or less sophisticated solutions to increase knowledge about customers. Analytical practices on customer profiles can be used by companies to support better portfolio management, from a financial and commercial point of view, particularly in credit allocation and collection processes.
Paulo Costa, Managing Director of Axesor, justifies the relevance of carrying out the study since "Axesor's purpose is to support companies in the domestic market with tools that allow for greater control over credit risk, in the most efficient way and in accordance with a credit policy and risk model designed specifically for their reality and which have a positive impact on their activity. Portugal is also a country geared towards innovation, and managers recognize the added value that technology brings to the efficiency of processes and the profitability of resources. But there is still a need for data that gives us a global overview of how the issue of corporate credit risk management is understood in the context of organizations and what responses are implemented in this regard."
In Portugal, Axesor is dedicated to commercial and consulting operations, with a value proposition for corporate credit risk management that includes specialized consulting services for risk modeling, including the definition of predictive risk indicators and payment behavior. Axesor provides the market with an advanced technological platform that can be integrated with any ERP (Enterprise Resource Planning) - the most advanced in the market. axesor® 360to manage the entire process order-to-cash.
The study carried out in partnership with IDC used the probabilistic sampling method through a non-stratified random survey. A random sample of around 100 decision-makers was taken. The collection method used was CAWI (computer assisted web interview) more specifically through an online survey distributed throughout the IDC database with the profile described above.
About Axesor
Axesor is a leading consultancy in corporate credit risk management. It has 20 years' experience and is present in Europe and Latin America. It adds value in credit risk management for more than 2,000 clients, including the main sectors of economic activity. It optimizes credit risk management, relying on innovation to make it accessible to any company.
It has been registered since 2012 as a Credit Rating Agency under European regulations supervised by the European Securities and Markets Authority (ESMA).
It currently has around 300 employees, a specialist team made up of highly qualified professionals in the financial, statistical and analytical areas, prepared to provide specialized consultancy services and implement a customizable and highly innovative technological solution.
About IDC
IDC is the world's leading provider of market intelligence, consulting services and events for the Information Technology, Telecommunications and Consumer Electronics markets. IDC helps IT professionals, business decision-makers and investors make fact-based decisions about technology and business strategies.
More than 1,100 IDC analysts provide in-depth knowledge of opportunities, technology trends and market developments at global, regional and local levels in more than 110 countries. For 50 years, IDC has been providing strategic information to help its clients achieve their business objectives.
IDC is a subsidiary of IDG - International Data Group, a world leader in technology media, market research and events.