Atradius (Insurance)
Atradius

Atradius increased collection of bad debt by 24% using Creditsafe.

2 Mins

The Customer

Founded in 1919, Atradius has spent more than 100 years becoming one of the world’s leading credit insurance and debt collection companies, providing a strategic presence in 50 countries. Atradius specialise in third party collections, supporting more than 15,000 customers with their debt collection services, whilst covering 96% of the globe.

Jarmite

The Challenge

Before using Creditsafe, Atradius were manually pulling credit reports when looking to recover un-paid debt. Justin Arandjelovic, Atradius Head of Operations for Western Europe, says “We were wasting our resource, and losing the opportunity to focus our efforts on the areas where we would get our best return.” Atradius were limited with the information needed when aiming to recover debts for their customers, using data that could be inaccurate or out of date.

Atradius’ process was very manual and time consuming, and with limited information, the collectors were unable to have the data displayed in front of them instantly.

When looking for a provider of up-to-date and relevant credit information, Atradius turned to Creditsafe. They needed data that could integrate directly into Atradius’ ERP system, and update on a regular basis. “Having used Creditsafe in the past, I knew they could deliver a global solution. Knowing that if we launched successfully in the UK, it would be easy to replicate across other regions as all the development work would have already been done. “Said Justin. 

We were wasting our resource, and losing the opportunity to focus our efforts on the areas where we would get our best return.


Justin Arandjelovic - Head of Operations - Western Europe
Atradius

The Solution

First, Atradius were using Creditsafe’s website platform solely within the UK, before expanding to other countries with the benefit of having access to Creditsafe's global database, which allowed other countries to access the platform which contains more than 365 million companies, across 160 countries.

The main reason for choosing Creditsafe was the simplicity of integrating Creditsafe data into Atradius' ERP system. The Creditsafe Connect API automatically feeds data into a Credit Reporting tab in Atradius’ internal system. “Every time a debt is placed with us, the Connect API automatically pulls the company’s credit score, and other key company data and enhances the record so that our agents have all the information needed to take quick action. The benefit of that is our employees do not need to manually type or copy information from one screen to another, therefore avoiding manual data entry errors.  ” Said Justin. 

Creditsafe also provides Atradius with the ability to perform batch updates within their system. This allows Atradius to analyse multiple debts that they take on, allowing them to assess incoming debts from new customers, manage their expectations, and success rates. 

Another reason for choosing Creditsafe was the dedicated support received from our Premier Account Manager. Justin says “Having a dedicated account manager gives us a single point of contact and means we have someone who truly understands our business needs.”

Future plans see Atradius look to expand the use of Creditsafe throughout their business across all regions. 

Having credit reports and an integrated API in place, does a lot of the thinking for the collector, allowing us to take the best cause of action for each debt.


Justin Arandjelovic - Head of Operations - Western Europe
Atradius

The Results

For the three years that Atradius have been using Creditsafe, they have collected record sums year after year because they risk profile debtors. This allows the team to have a structured approach with every single debtor, with the information they’re viewing.

Justin adds "Over the last few years we have implemented a great deal of digitalisation and automation such as Debtor Videos, Virtual Assistants, Data Profiling alongside the implementation of Creditsafe Online and Connect. During this period we’ve seen a 24% increase in our collected sums for our clients."

With the introduction of Creditsafe into Atradius, Justin tells us that the team are now more data driven and have access to far more data than ever before, growing year after year. “Having so much data available to hand makes the collectors much more efficient, and gives a better return for our customers”. 

Time Saved

Increased Collections

Accurate Information

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