Set up a credit analysis system for your credit account

[jisansorkar8990]

If you understand credit, you don't need to be a technology expert to set up a credit analysis system in your store.

Using a tool like Meu Crediário , for example, you only need to determine some criteria for granting credit and the system does the rest.

However, some retailers who start working with us have a little difficulty adjusting to these rules at the beginning of the process.

Many people don’t know exactly how they will resolve certain issues at the time of sale.

When should I check a customer's credit? Do I need to take into account the purchase amount? The installment terms? Whether the customer is new or traditional?

There are so many doubts that the system ends up being configured incorrectly and the store owner is unable to extract the full potential of sales on the booklet.

In the following video, I explain in more detail some rules that every retailer needs to follow to work with the credit analysis system in a truly effective way. Click play and check it out!
YouTube video
Adjusting your store's credit policy
When we talk about credit in retail, what are the rules adopted by most stores when defining their credit policy?

Basically, it is only analyzed when it is a new customer or a higher value sale.

Pay attention to this example:

The customer wants to make a purchase of R$200 on credit at a popular shoe and clothing store.

Detail: he is a traditional customer, who usually buys from this store.

Considering the relatively low value and the fact that it is someone “known”, the credit agent ends up not seeing the need to carry out a credit analysis.

But… what if the purchase value was over R$500?

Then, even though the customer is an old customer, the store understands that it must carry out a credit analysis because it is a high-value sale.

In over 15 years of experience working with credit solutions for retail, I have seen this same model used in hundreds of companies.

But is he correct?

Default is also in lower sales
Continuing with our example, we can say that a sale of R$200 is within the average ticket for a store in this segment.

This means that most of the store's credit sales job seekers database revolve around this value.

And that's why they must undergo credit analysis!

Here, the value is not important, but rather the fact that this is the range in which the store's largest sales volume is concentrated. In other words:

It is in the volume that you will find the “bulk” of your default .

Do you understand why the risk is not just in sales of R$500 or R$700?

In fact, configuring the system to search for something that corresponds to only 10% of sales is not the best way to control defaults on your credit account.

You need to identify the risk customer in all sales processes, in all analysis models, in every credit concession that your store makes.

Is there an ideal credit analysis model?
Well, what I can say is that the ideal model first involves being able to classify each client's risk.

Only by knowing the different risk profiles will your store be able to decide whether or not to analyze the credit of these customers.

For example, for low-risk customers (profile A or B), it is possible to extend the analysis period a little or even reuse a consultation with credit bureaus.

The way we work at Meu Crediário , the system can use a cheaper analysis model in all sales made to these customers.

It is possible to do this because both client A and client B have a different risk.

In this case, simply check the customer's SPC every 90 days to have quality information to guide the credit analysis.

It is possible to save on the consultation, but the credit analysis must be carried out on all sales , without exception.

This is because it is necessary to identify whether these customers still follow the same behavior model they always have, right?

Different profiles require different rules
For a C profile customer, for example, you cannot apply the same rules that you use for low-risk customers.

Your store really can't sell R$200 to this type of customer thinking they'll pay on time.