Edcon, Africa`s largest fashion retail group, has awarded PIC Solutions a Citation, the highest honour that can be awarded to its employees or service partners.
The Citation was awarded `in recognition of the uncompromising effort and total dedication towards the successful implementation of TRIAD Account Management for Edgars Consolidated Stores Limited` by Edcon Chief Executive, Stephen Ross.
Edcon Financial Services Executive, Rob Leathers explains: "There were only 3 Citations awarded to vendor companies by Edcon Financial Services this year and we are pleased to recognise the effort and contribution that PIC Solutions has made to our re-focused credit management strategies over the past 12 months. The impact of the new credit risk management initiatives have been significant, in terms of increased turnover and income, reduced arrear roll rates and enhanced proactive customer service. The consultants from PIC Solutions have worked closely with our Risk Management team to design, test and implement leading-edge risk management strategies and techniques that have been applied to all of our retail chains. This citation recognises the dedication, expertise and level of professionalism demonstrated by the PIC Solutions team."
A combination of Edcon risk management personnel, Accenture IT professionals and PIC Solutions consultants have implemented the leading-edge TRIAD account management system and re-engineered decision strategies for credit limit management and collection of delinquent accounts.
Results to date are very impressive when compared to previous policies, with an increase in sales turnover of 10.3% and an increase in up to date balances of 10.6%. At the same time, the 2 and 3-month arrears balance have been reduced by 7.8%
Whilst these results are impressive, this represents only the first phase of the revised decision policies. The team will be working towards revised authorisation, pricing and marketing policies that will continue to ensure that the Edcon group remains at the forefront of African fashion retailing.
David Lewis of PIC Solutions quotes: "We are honoured to receive this award from Edcon, and the esteemed company of the other, much bigger, award winners adds to our pride in partnering with Edcon to achieve their business goals. We look forward to our continued relationship with the Edcon team, and on-going success in achieving even better results in the future. We would also like to express out congratulations to Accenture and The Hollard Insurance Company on their citations ".
PIC Solutions is a unique, specialist risk management solutions company, providing Project management, Integration services and Consulting solutions to a wide range of clients in the financial services industry. With over 130 years combined experience in the Europe Middle East Africa region, PIC Solutions has rapidly grown to become the largest specialist risk management solutions provider in the Southern Hemisphere.
Our ongoing commitment is to ensure that we enable our clients to transform risk into revenue.
Share
