|By RealWire News Distribution||
|January 22, 2013 09:11 PM EST||
Global roll-out planned following successful implementation of Tinubu Risk Management Center (Cloud-based SaaS)
22 January, 2013 - London, UK - Tinubu Square, the most trusted source of credit risk solutions for trade credit insurers, has today announced that the Tinubu RMC SaaS (Risk Management Center) platform has been deployed by Bibby Financial Services (BFS), the UK's leading independent invoice finance specialist, to manage the limits on trade credit facilities that it is offering to customers.
Tinubu RMC, which is a cloud-based, SaaS solution for B2B credit intelligence and operational reporting, has been integrated to provide support for the non-recourse program that Bibby Financial Services (Bibby) has been developing over the past two years. After growing quickly, the program reached a turnover in excess of £400 million, and became too large to manage through traditional manual processes, prompting the company to look for a specialist solution that could help.
Andrew Dixon, New Product Director at BFS, said: "We wanted a tool that could aggregate the manual processes that had become too cumbersome, and following a recommendation from our sister company in France, we assessed and selected Tinubu RMC SaaS. It is an 'open' program, which means that it works easily and seamlessly with our existing systems, and because it is on the cloud, we have enjoyed a very straightforward implementation."
Integration of the first phase of the project was completed in under a month, and the processing of data is being managed by a team of five core users. However, as Tinubu RMC SaaS becomes more embedded the team is realizing more functionality from both the system and the data. In addition there is some accessibility for credit insurance managers within BFS in the UK. BFS is already planning to develop the Tinubu RMC SaaS into a global programme over the next couple of years.
"In order to maintain our trade credit limits, we rely heavily not only on our own data, but also on data held by our insurers; Tinubu RMC is acting as a bridge to bring all of this together," said Andrew Dixon. "We are also able to analyse and monitor the payment performance of customers and act on intelligence supplied through RMC's extensive reporting capabilities, and this is a major advantage to us. Our program has expanded by 25% during this year and with the help of RMC SaaS we have had no need of additional resource. We have been impressed so far, and this is reflected in our plans to roll RMC SaaS out internationally."
In October, Tinubu Square launched the latest release of the Tinubu Risk Management Center aimed at business-to-business organisations. The new solution delivers a comprehensive view of buyer risk throughout the enterprise and bridges the gap between back-office accounts, ERP and front-line CRM systems to help companies manage trade debts and payments from existing and potential customers at local and/or international levels
Mike Feldwick, Head of UK & Ireland at Tinubu Square, said: "We have a growing roster of customers from leading credit insurers and reinsurers through to private enterprises who are benefiting from the buyer intelligence that our solution provides, minimising credit risk exposure in all aspects of their business. We are delighted that Bibby Financial Services, a company that currently provides cash flow funding for over 4000 UK businesses is using Tinubu RMC to such good effect, and after such a short time. We look forward to working together with Bibby to help it deploy the solution globally."
About Tinubu Square
With more than a decade of experience, Tinubu Square is the most trusted source of credit intelligence for credit insurers and B2B companies. Tinubu Risk Management Center (RMC) SaaS and associated Tinubu Credit Risk Intelligence services are used by more than 250 B2B companies with more than €35B in receivables to manage credit risk exposure, secure the value of recoverables, reduce DSO, increase working capital, lower the cost of credit insurance administration, and strengthen financial positioning for short-term bank credit. Tinubu Square is headquartered in Paris, France, with offices in London, Brussels, Singapore and Mumbai. www.tinubu.com
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Julie Kirby, Ascendant Communications
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Email: [email protected]
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