While you likely have built an aging report to track your accounts, ICE has a tool to complement your existing system while helping you make quick, effective decisions.
As you would expect, the ICE aging reports – found under the Pulse tab — provide information on all accounts in your portfolio plus additional features such as:
- Your exposure. This is calculated by using the number of ICE member accounts linked to the customer, as well as the overall outstanding balance and the age of the balances. The higher the percent of your exposure might indicate a higher probability of delinquency or failure to pay outstanding balances.
- Contributors. The number of other members reporting on the customer.
- ICE Score (For portfolio members only.) Like personal credit scores, the ICE Score was developed to provide credit managers with a tool to quickly assess credit worthiness. Scores are measured on a scale from 0 – 100, with higher numbers being more desirable. A number of factors are used to create the score, including data from within the database, which cannot be found anywhere else. The scoring factors are: historical debt, current debt, risk alerts, and inquiries.
Like your own aging report, this was designed to easily monitor your accounts and keep up with delinquent accounts. However, the advantage of our report is the access to data not found anywhere else. Plus, you can easily integrate the data into your own spreadsheets as it can be easily exported into an Excel spreadsheet.
The ICE aging report is just one more way Ice Credit Exchange can help you create efficiency in your credit department. To learn more, contact ICEsupport@ICEcreditexchange.com.
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