This June, The Copenhagen-based FinTech Risika has launched Credit Automator, a groundbreaking credit policy management tool that helps enterprise businesses automate their B2B credit policy management.
Rethinking Traditional B2B Credit Solutions
A well-defined credit policy is essential for protecting companies from late payments
and maintaining a healthy working capital position. However, traditional solutions
often fall short, lacking the agility to respond to real-time macroeconomic changes
and impeding growth through risk aversion.
“Through our customer research we found that most companies have not updated
their credit policy in the last 5 years. This means that their policy is not relevant in this post-covid, high inflationary, and uncertain macro environment,” says Timm Jeppesen, CEO and co-founder at Risika.
The Available Options For Credit Management Are Insufficient
With more than $18 trillion worth of online credit risk globally, traditional B2B
industries struggle to keep up with the rapid developments in the market, where
their customers expect faster, more precise, and tailored credit decisions.
Current options comes down to manual in-house resources or costly out-sourced
solutions, such as credit insurance, factoring, or emerging B2B Buy Now Pay Later
FinTechs.
What is Credit Automator
Credit Automator provides enterprise businesses with a cost-effective, automated
credit policy builder and management tool. It can be used by Finance and Sales
teams to automate and customize credit decisions across customer types and
industries while identifying risks and seizing growth opportunities.
“This is a product milestone for us, aligned with Risika’s purpose of empowering
businesses and individuals to succeed through calculated risk. It offers unparalleled
customisation of credit policies and terms, enabling agility and efficiency while
promoting clear communication between Sales and Finance departments,” Timm
Jeppesen concludes.
About Risika
Risika A/S is a Copenhagen-based FinTech company specializing in innovative
solutions for credit risk management and financial intelligence. With a purpose to
empower businesses to succeed through calculated risk, Risika helps 2600+
finance professionals in the Nordics to balance growth and risk in every trade
situation.
