Power of Cloud Computing in Credit Mana of Cloud...Power of Cloud Computing in Credit Management ... (QB), misc company ... •Bank account information •Social security numbers

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  • Power of Cloud Computing

    in Credit Management

    Pam Krank

    Tuesday, June 14

    2:00pm 5:00pm

    #25055

  • 1

    Power of Cloud Technology

    In Credit Management

    NACM Credit Congress

    Tuesday, June 14, 2016

    Pam Krank President The Credit Department Inc. (TCD)Pkrank@tcd.com

    Agenda

    1. Introduction to the Cloud

    2. Advantages of the Cloud

    3. Credit Management Cloud Technology Options

    4. Best practices in the Cloud

    5. Future of the Cloud in Credit Management

    What is the Cloud?

    Cloud is the concept of maximizing resource utilization by sharing. It increases business speed and agility as each company no longer needs to solely rely on its internal technology resources and capabilities.

  • 2

    Cloud: Technology as a Shared Utility

    Why Cloud?

    Available on demand

    Lower costs

    Cash flow: expense vs capitalization

    Scalability/allows for growth

    Access to expertise

    Flexibility

    Lack of downtime

    Why the Cloud at TCD?

    Travel the world!

    Quickly adapt to changes/growth

    Mobile applications

    Attract top talent/Millennials

    Support global operations

    Access to latest and greatest technology resources

    No need to increase/replace IT infrastructure

  • 3

    Types of Cloud

    Private Cloud

    Expensive

    Creates flexible, scalable infrastructure

    Easier connections to vendors, suppliers

    High degree of control (not shared)

    Top security

    Best for highly-regulated industry (ie healthcare)

  • 4

    Public Cloud

    Easy to use

    Shared server environment

    Provides scalability

    Pay-per-use (no long-term contracts)

    Hybrid & SaaS

    Hybrid: Combination of Public

    and Private Clouds

    SaaS (Software-as-a-Service):

    Business subscribes to the application it accesses over the internet

    HybridSaaS

    Cloud Examples

  • 5

    How does the Cloud work?

    Cloud Concerns

    Migration

    Costs

    Security

    Migration to Cloud

    Review existing technology and processes

    Determine cloud options

    Sort through cloud providers

    Clean out files

    Transition from servers to clouds

    TCD migration:

    A/R credit/collection software

    Email

    Credit files, scorecards

    Financial (QB), misc company infrastructure programs

  • 6

    Cost of Cloud

    Changes since introduction

    Implementation

    Maintenance

    Cloud Investment

    Security

    Dependent on vendor reliability

    Credit specific cloud concerns:

    Bank account information

    Social security numbers

    Financial statements

  • 7

    Types of Credit Technologies Available in the Cloud

    Billing

    Cash application

    Credit Applications and Reference checking

    Credit Analysis & Scoring

    Credit file storage

    Collection notes, reminders, statements

    Dispute resolution & Deduction Management

    Cash forecasting

    Reporting

    Billing Cloud Solutions

    Cash Application

  • 8

    Credit Applications & References

    Credit Analysis & Scoring

    Credit files

  • 9

    Collection Activity

    Dispute & DeductionManagement

    Cash Forecasting

  • 10

    Account Receivable Reporting

    Future of Receivables Management and the Cloud

    Conclusion

    The Cloud is expanding in popularity

    Cloud is changing competitive landscapes

    Credit Departments are adopting Cloud technology to best manage their receivables portfolios

    Offerings for Credit Department Cloud products and services are growing

  • 11

    Questions?

    Thank you!

    Contact Information

    Pam Krank

    800-451-0164 x 203 pkrank@tcd.com

    www.tcd.com

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