Stacking the odds in favour of Relyant Retail

In the competitive retail marketplace, effective applications processing and management of credit is crucial to support additional sales, business growth and improve profitability. Implementation of scoring and credit bureau products may well be best practice but it`s the way in which they are implemented that optimises the credit decisions.

PIC Solutions has recently completed an Applications Processing HealthCheck for Relyant Retail, a leading furniture retailer in SA. During this assignment, a full review of the existing procedures was undertaken, from the sourcing of new customers, risk and affordability assessment, through to the final accept/decline decision and subsequent tracking. The strengths of the existing operation were analysed and recommendations for further improvements were made.

One of the key focus areas of the HealthCheck was the derivation of an effective application and credit bureau score joint-odds matrix to determine the most effective risk based decision policies and cut-offs to meet Relyant`s business objectives.

Len Waldeck, Group Credit Director of Relyant Retail Limited, states: "A fresh view of our business highlighted areas where the processes could be improved. I fully believe that these improvements could not have been defined without PIC Solutions analytic and consulting teams.

It was not just what was achieved, but also the working relationship that developed between PIC Solutions and Relyant. They were flexible, professional, and pulled out all the stops to ensure that the project was completed successfully."

This successful relationship will be continued in the future, as PIC Solutions has been chosen to assist Relyant Retail with the implementation of its TRIAD account management system. With this implementation of the world`s leading credit risk management software, Relyant creates a trio of Durban-based financial services companies, all of which are clients of PIC Solutions.