About
Blue Water Industries is a leading North American aggregate and asphalt producer that provides quality products with world class service. It uses Moody’s Analytics Pulse to:
- Access unique company data quickly and easily
- Protect receivables from unpredictable businesses through A/R portfolio monitoring
- Increase efficiency by automating credit decisioning and monthly reporting
- Reduce its operational costs with cost effective and impactful credit reports
Background
Blue Water Industries was looking for accurate and timely financial information on private companies to proactively manage risk across its large A/R portfolio. The credit team tried multiple credit data sources and discovered that they would have to sift through thousands of records to find their customers, and their sources were missing some of the small to medium private businesses in their portfolio.
Blue Water Industries decided to try Moody Analytics Pulse to close that gap. This solution brought more data and transparency to their credit team, and soon became their sole source for credit data and timely insights on their customers.
Moody’s Analytics solution
Almost immediately Blue Water Industries found the company search feature extremely simple and easy to use in comparison to other credit databases. They were able to find information more efficiently since the search feature only required limited information and the logic would return exactly the firms they were looking for. They also discovered that the database had information on businesses they never had access to before.
“Moody’s Analytics Pulse gives us access to crucial insights on private companies in our portfolio, that other credit providers simply do not have” Carl Davidson, Director of Credit & Collections at Blue Water Industries.
Blue Water Industries now trusts Moody’s Analytics Pulse to monitor its receivables portfolio of over $190 million. Proactive monitoring empowers the credit team to stay ahead of risk, without burdening them with unnecessary work. They receive one daily email which summarizes changes in risk across their portfolio. This simple approach means they receive critical risk information in time to act on it.
“Moody’s Analytics Pulse has alerted us to numerous credit risk scenarios in time to decrease credit lines before payments were at risk” Carl Davidson, Director of Credit & Collections at Blue Water Industries
When Blue Water Industries is alerted to a potential risk or receives a new credit application, they pull in-depth credit reports from Moody’s Analytics Pulse to learn more. The credit team likes that the reports contain the detailed insights they need without requiring them to pay large fees. According to Carl Davidson the Director of Credit & Collections, “Blue Water Industries has saved around $6,000 annually in credit report costs since we began pulling Moody’s Analytics reports.”
Blue Water Industries was also able to automate its decisioning process for new credit applicants. The credit team easily created custom decisioning logic within the Moody’s Analytics Pulse application which provides a credit decision along with the report, allowing them to shorten the decisioning wait time for new applicants from 1-2 days to less than an hour.
“The automated decisioning in Moody’s Analytics Pulse has saved us over 430 hours in this past year in manual data analysis.” Carl Davidson, Director of Credit & Collections at Blue Water Industries.
In addition to the efficiencies gained with decisioning, Blue Water Industries was also able to automate management reporting. The credit team simply downloads Moody’s Analytics monthly portfolio report and shares it with the CFO, keeping key stakeholders up to date on the status of their receivables. The automated report provides a snapshot of the entire A/R portfolio, saving the credit team two hours of manual data analysis monthly.
Results
The Moody’s Analytics Pulse platform has empowered Blue Water Industries to proactively manage receivables, increase efficiency, and reduce operating costs. The unique data on companies in their portfolio and timely risk alerts enable Blue Water Industries to tighten credit limits before its receivables are at risk.
Automated decisioning and monthly reporting has saved Blue Water Industries’ credit team over 450 hours this year alone, so they can focus on key value add initiatives instead of manual analysis. Blue Water Industries’ customer experience has also improved significantly, with shortened decisioning times for credit applicants. Additionally, the affordability of the credit reports has allowed the company to reduce operating costs by $6,000 annually.
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