25.04.2012

As certified by TÜV Rheinland: GUARDEAN DebiTEX 11 enables companies to set up a professional credit management

Munich, April 25, 2012 – GUARDEAN, the international supplier of software products for customer risk and credit management has been awarded a certificate of compliance by TÜV Rheinland for its DebiTEX 11 credit management software. According to the certificate, DebiTEX 11 helps companies set up and continually develop a professional credit management system in accordance with the minimum requirements for corporate credit management (CCM). DebiTEX 11 is the first credit management software product to receive this TÜV certification.

After auditing the software, TÜV Rheinland concluded that DebiTEX 11 complied with the process requirements set out in TÜV Rheinland's "CMC:2012" standard, which is based on the minimum requirements for CCM defined by the Bundesverband Credit Management e.V. (German Association for Credit Management - BvCM). The certificate confirms in particular that DebiTEX 11 provides support with the following processes: credit management & control, creditworthiness checks and monitoring, risk classification, credit limitation, receivables security, customer master data, dunning and delivery blocks. The credit management software ensures, for example, that each customer is subjected to a creditworthiness check, which the system carries out automatically on the basis of internal and external information. DebiTEX 11 additionally guarantees that existing customers are permanently monitored – and acts as an early warning system by automatically reporting any discrepancies in a customer's credit rating. Companies can thus react quickly to changes. A comprehensive range of features designed to support corporate processes, such as portfolio reports and obligation checks for customers covered by credit insurance, make everyday credit management work that little bit easier.

“Corporate credit management is becoming increasingly complex. DebiTEX 11 not only helps companies meet the minimum requirements therefore, but also enables them to withstand this growing complexity and continually develop their processes. In the long run, this is the only way that companies – particularly in times of economic trouble – can improve their liquidity and exploit their potential to the full", commented Wilm Schweer, Head of Product Development at GUARDEAN GmbH.

"DebiTEX 11 contributes to the professionalism and quality of companies' credit management processes and ensures that these processes are effectively applied on a systematic basis. The next step open to companies is to have their credit management processes certified by TÜV Rheinland, so that they can provide transparent evidence – both internally and also to interested third parties such as credit insurers, factoring companies, banks, auditors etc. – that these processes have achieved a given level of quality" added Horst Döller, Product Manager at TÜV Rheinland Cert GmbH.

A growing number of companies are commissioning TÜV Rheinland to audit or certify their credit management systems, so as to constantly improve the quality of their processes. GUARDEAN customers such as BayWa, Bosch Thermotechnik Buderus Deutschland, cst business support and Schmidt-Gevelsberg have successfully taken advantage of this opportunity and have been awarded TÜV certification for their professional credit management systems.

With its minimum requirements for CCM, the BvCM has developed a comprehensive model for effective corporate credit management. The minimum requirements describe processes and framework conditions that must be complied with in order for companies to be protected from bad debts and late payments. In 2011 the minimum requirements were revised and tightened, with experiences from the financial crisis also being taken into account.

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