Solution spotlight

KOi+ - Keys to Credit Management success

  • Continuous improvement is essential in a fast-changing and challenging environment. A strategic view on the maturity of the credit management function and the critical areas for improvement is the guarantee of future proof credit management.
  • With our KOi+ solution, Aon's Credit Solutions consultancy center of excellence in Belgium has developed a low time investment, scientifically supported methodology to assess and score the quality of our clients credit management process, procedures, compliance and systems.
  • Through a guided self-assessment on 20 keys for successful credit management, we evaluate performance on credit management best practices. Credit management attributes are clearly visualized through scores.
  • The scores provide insights into the strengths and weaknesses of the credit management function. Clients learn how they score across the different steps of the quote-to-cash process: from credit evaluation, through revenue assurance and up to collections.
  • Based on the detailed metrics, KOi+ creates focused action plans and supports clients in achieving better credit management results. The Aon team will outline the roadmap to credit management excellence, including priorities and propose practical recommendations for optimization.
Using KOi+ we benchmark our branches against one another in order to identify key areas where a specific team can set the new standard for others in the field of credit management.
Peter Van Den Broecke, CFO, Daikin Europe

KOi+ fact based action planning

Focus on DigiKOi+

The DigiKOi+ tool, powered by Aon’s Credit Solutions consultancy center of excellence in Belgium, offers a digital scan of credit management.

With this scan, clients can measure how far the credit management has already been digitalized. More importantly, by benchmarking against other companies, clients can quickly establish new areas that can be automated.

The following areas are considered:

  • Prevention: Data to assessing and managing credit risk in a proactive way
  • Operation: Digital framework for credit management efficiency and accuracy
  • Detection: Data automation to identify potential risks and payment difficulties
  • Organization: Integrating digital capability into the credit department function

The scores are compared to an external benchmark which includes all companies that have participated in the survey. In a tailormade project, this benchmark can be further narrowed down, e.g. to compare the degree of digitization between different affiliates of the same group. The result of this benchmark provides a high-level overview on global digitization needs within the group.