Cochlear places trust in the ‚Inplenion Risk Manager’

Quotation Cochlear

Yasin Oezbas – European Credit Risk Analyst and Chief Accountant
Cochlear AG EMEA Headquarters

With the Inplenion Risk Manager (IRM), we have introduced a solution that not only meets the requirements of a modern credit risk management system, but also satisfies diverse demands across divisions in accounting/controlling. Furthermore, it serves as a reporting system for our management. By combining our internal customer data among one other as well as with external risk data, our credit risk management was substantially improved,as more detailed information regarding our clients is now available. In 12 months, the ‘Days Sales Outstanding’s’ (DSO) have declined by 10% and financing costs were reduced by CHF 145,000 per annum. Thus, we achieved a Return on Investment (ROI) in less than one year. In our business, credit risks arise primarily at the customer level, in some countries in the EMEA region and due to fluctuating exchange rates. These risks we can now better manage too. As a single point of truth the Inplenion Risk Manager replaced various Excel (xls) based systems.