Continental

Customer Information

Continental Reifen Deutschland GmbH is a subsidiary of the DAX company Continental AG, headquartered in Hanover, Germany. The company has been manufacturing tires for numerous applications for more than 150 years. Thanks to its high quality and focus on ensuring excellent braking performance and maximum safety, it is one of the five leading suppliers to the automotive industry worldwide. The Tire division stands for innovative strength for the mobility of today and tomorrow and employs over 57,000 people worldwide.

 

The challenge

Risk management has become increasingly important for Continental in recent years. This was primarily due to the volatile market developments of the recent past, the coronavirus pandemic and supply chain difficulties at customers - in other words, all the factors that have challenged and continue to challenge most companies.

Due to the high credit limit per debtor, it was and is crucial for Continental to manage the risk on an individual customer basis. A detailed analysis, often combined with a detailed balance sheet analysis, is a must for the company in order to be able to carry out an appropriate risk assessment.

In addition, the active credit management system no longer met the requirements. It was no longer up to date and could no longer meet all requirements.

Data evaluations and larger analyses took place outside the system and were therefore more complex. Supporting the system required a high level of technical expertise from the credit manager. And the onboarding of new employees was very complex.

With these challenges in mind, Continental set out to find a more modern solution for credit management and finally came across Bilendo.

 

Goals

The implementation of Bilendo was quick and straightforward, without the need to initiate a major IT project. Despite scarce resources at Continental, Bilendo went live within a few months and met the planned deadline.

Thanks to the agility of the solution, Continental was able to manage around 3,000 active credit limits immediately after the launch - a remarkable achievement. The Bilendo add-on "Scoring & Risk" is currently being used primarily in this context.

 

Short-term Success & Outcome

The implementation of Bilendo was a complete success for Continental. All the necessary functions were fully adapted to the internal processes and credit management was raised to a future-proof level.

This fulfills the special requirement of being able to carry out the risk analysis of debtors at the desired high level.

Thanks to Bilendo, a single score can now be used that automatically incorporates both internal and external data (such as balance sheet analyses, etc.) and is always up to date. The connection to business databases also enables a convenient and clear view of customer data and risk scores. It has also become much easier to compare customers and their credit limits, which further simplifies risk assessment and analysis.

"The cooperation with Bilendo was and is characterized by an uncomplicatedness that has become rare. We are impressed by the company's great willingness to understand our requirements and provide solutions tailored to our needs quickly and efficiently."

Larissa Hackett

Credit Management Continental Reifen Deutschland GmbH

Since the implementation, the team at Continental has been saving valuable working time every day, as the faster loading times, improved user-friendliness and automated workflows are having an impact.

In future, the balance sheet analyses required by Continental will be able to be implemented even faster and mapped in Bilendo - the new feature for this is already under development.