Manufacturing Leader Processes Up to 9x More Credit Approvals Daily with Automated Credit Processing
By automating credit processing, Global Powder Manufacturing Leader has achieved over 80% time savings, significantly enhancing efficiency and replacing time-consuming manual approvals.
Our Esteemed Clientele
Why Automated Credit Processing?
One of our metal powder manufacturing client, was facing inefficiencies with their manual credit application process. Their sales team would send Word documents, collect customer information like name, credit requirements, etc. and then manually enter that their data into multiple systems, and request Allianz to get credit, which took nearly 2 hours per approval. They needed a more streamlined, systematic solution to free up time for their employees to focus on more strategic tasks.
Key Challenges in Manual Credit & Loan Processing
A top-tier partner in material innovation and powder manufacturing previously spent up to 60 hours on customer onboarding and loan approvals, including wait times. The repetitive as well as time consuming nature of this process not only caused them delays, but they faced several key challenges, including:
- Time-Consuming Data Entry: Manual entry of credit requirements and follow-ups caused delays.
- Increased Data Entry Errors: Risks of mismatches in customer names, credit amounts, and miscommunication.
- Lack of Monitoring Capabilities: No centralized system to track loan status.
- Data Protection Concerns: Sensitive information in Word documents and emails posed security risks.
- Scalability Issues: The manual process couldn’t handle growing loan volumes efficiently.
How Power Automate Simplifies Manual Credit Processing
This challenge highlighted how much time our client was spending on inefficient operational tasks, which weren’t adding value. By implementing Power Automate, we streamlined their credit loan approval process, automating routine tasks and eliminating these time-consuming challenges.
Customer Registration Trigger
When a new customer comes in, now the sales team simply types “Registration Form” in the Teams bot, which generates a quick Adaptive Card to collect the customer’s email address.
Automated Email
Power Automate takes over from there—sending the customer an email with attached Microsoft form to gather their details and credit needs. No more waiting for responses or dealing with back-and-forth communication.
Notifying & Salesperson Assignment
Once the customer completes the form, both the sales & customer service departments receive instant notifications via Teams/Outlook. The system automatically assigns a salesperson based on availability, ensuring a quicker response.
Credit Requirement Review
The customer service rep simply types “Customer Onboarding” in Teams, and an Adaptive Card appears with a list of pending customers.
This process moves further if the customer has opted yes for credit requirement. The credit requirements are reviewed, and the customer rep adds any additional information, if needed, and submits it for approval. Power Automate sends an email request to the Account Rep (AR) for further review.
Account Rep Approval
The AR reviews and can make comments in case of any credit adjustments directly within the same email thread via an attached comment box. The process remains organized and centralized. Once the AR is satisfied, the bot sends the request to Allianz for the final credit check.
Update in the ERP
After approval from Allianz, Power Automate notifies the account manager via email and automatically updates the Infor M3 ERP system with the approved credit details. This ensures real-time accuracy in customer records without any manual steps.
Impact
Powder Manufacturing Leader Achieves 9x more Credit Approvals Daily with Power Automate
Manual processing limited our partner to only 4 credit approvals in a standard 8-hour workday, as each case required 2 hours to complete.
By implementing Power Automate, we streamlined their credit approval process in key areas:
- Streamlined Data Collection: Credit requests are now collected through Microsoft Forms, providing centralized access and reducing manual data entry.
- Automated ERP Updates: The ERP system is instantly updated with approved credit details, minimizing errors and ensuring real-time accuracy.
- Efficient Follow-Ups: Automated notifications keep the process moving, expediting each step of credit approval and reducing delays.
With these enhancements, they achieved an 80-90% reduction in customer registration time, enabling faster, more accurate daily approval summaries.
Automate your Manual Credit Loan Processing with Power Automate, just like our manufacturing leader did! Customize your Solution to Fit your Business Needs.
Benefits of Automated Credit Loan Processing
Automating Credit Loan Processing offers several key benefits:
Time Savings
Automating repetitive tasks like data entry and document handling can reduce loan approval time by up to 80-90%, enabling teams to focus on higher-value customer interactions.
Improved Accuracy
Automation eliminates manual data entry errors, ensuring loan and customer information is accurately captured and seamlessly integrated into your systems.
Faster Response Times
Automated workflows, from assigning account managers to sending approval notifications, accelerate the entire loan approval process, shortening the time needed for each request.
Cost Efficiency
By minimizing manual work and reducing error-related costs, automation helps lower operational expenses associated with credit loan approvals.
Scalability
An automated system can handle a higher volume of loan requests, making it easier to scale with growing demand without needing additional staff.
Enhanced Customer Experience
A faster, more efficient loan approval process leaves a positive impression, contributing to stronger customer satisfaction and loyalty from the start.
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Years of Experience
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Projects Completed
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Customer Retention
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Industries served
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