Edcon, Africa`s largest fashion retail group, has signed a ScoreMentor contract with PIC Solutions. This retainer contract involves the project management and support of the Edcon credit risk management team`s development and implementation of a wide range of application and behaviour scoring models.
The ScoreMentor Service enables Edcon to `reserve` a specified number of analytical consulting support hours, over a 12-month period. Edcon can then make use of the support as and when it is most required. This allows for the optimum allocation of specialised resources for scorecard development projects, combined with fixed monthly budgeting and on-time project delivery.
According to Jaco van Jaarsveldt, Risk Manager at Edcon Financial Services: "The project is high priority within Edcon and as such has attracted the support of senior Edcon executives. We are conducting the project under a ScoreMentor contract with PIC Solutions to ensure that we can achieve a rapid and effective transfer of knowledge of the scorecard development process to our internal risk team. As far as we are aware this is the largest scorecard development project initiated in the Southern Hemisphere."
Van Jaarsveldt adds: "We are using SAS EnterpriseMiner software as the development platform, around which PIC Solutions has created a robust scorecard development methodology. This methodology will ensure that we develop world-class scorecards at a substantially reduced cost. With the recent deterioration of the South African rand, it has become prohibitively expensive to have these scorecards developed by overseas scorecard developers. Once we have completed a full suite of Propensity to Spend and Attrition scorecards, we will be looking at redeveloping the existing Behaviour Risk and Application Risk scorecards at a fraction of the original development cost."
Bayan Dekker, Director of Analytical Applications at PIC Solutions, adds: "This ScoreMentor contract means that Edcon has the flexibility to use our scorecard development personnel, when and where they are most required. The PIC analytical team will be project managing the development and implementation of the different scoring models, while ensuring that a full knowledge-transfer process occurs. This scorecard development project will ensure that Edcon continues to remain at the forefront of African fashion retailing."
PIC Solutions is a unique, specialist customer management solutions company, providing Project management, Integration services and Consulting solutions to a wide range of blue-chip clients. With over 200 years combined experience in the Europe Middle East Africa region, PIC Solutions has rapidly grown to become the largest specialist customer management solutions provider in the Southern Hemisphere.
Our ongoing commitment is to enable clients to transform risk into revenue.
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