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CPG Manufacturer

succeeds with end-to-end credit application support

Outcomes

80% SUBMISSION RATE
Achieved

100% DECISIONS
Made via online platform

70% OF APPS
Delivered key financial data

<1 DAY RESPONSE TIME
For completed apps

The Challenge

This European consumer packaged goods (CPG) manufacturer is dedicated to delivering health through food to as many people as possible. They have products through multiple businesses that are sold in over 120 markets.

With steady growth in the business, including a number of acquisitions, this CPG manufacturer needed to optimize resources so that they could do more with less. They needed a partner who would scale as their needs grew while also offering a breadth of capabilities for an end-to-end credit solution.

The Solution

This organization decided to partner with Billtrust. From the beginning, they expressed a desire to save time on customer phone calls and paper faxes when working to approve credit. The Billtrust team spent significant time understanding their needs and challenges in the credit department. From there, Billtrust built a simple, configurable online credit application that would help cut down processing and approval time from days to hours.

The Results

Working with Billtrust, this CPG manufacturer is now taking advantage of the online credit app data with private financials and automated references and real-time scores while also benefiting from comprehensive credit reports. With Billtrust Credit, they’ve reduced their dependence on traditional information providers and have cut their time on customer phone calls, emails and faxes. Finally, this organization now utilizes a more robust system for tracking customer interactions. Today, they get over an 80% response rate and processing times are well under a day.

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45% APP SUBMISSION
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67% INCREASE
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