A few years ago, the U.S. housing bubble burst and the construction industry tanked, which was challenging for every business in that sector. Valley Forge, Pennsylvania-based building-products manufacturer CertainTeed Corporation found itself at a crossroads. A subsidiary of Saint-Gobain, a global manufacturer with around 200,000 employees worldwide, the company faced a crucial decision: How could it continue selling in a distressed market while ensuring that its receivables would continue to be paid?
Treasury & Risk spoke with Susan Delloiacono, the company's director of credit services, about how CertainTeed began using predictive analytics within its credit-and-collections automation system to identify exactly which customers pose the most credit risk. By basing decisions on more precise information, the company was able to streamline credit decisions and dramatically improve prioritization of receivables within the collections process. Now its accounts receivable (A/R) metrics are outstanding, and employees, customers, and the company are all thrilled with the change.
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