- A new CRIF solution offers B2B companies optimized efficiency in customer assessments to increase sales and reduce payment defaults
- Panorama helps companies manage risks, comply with regulations, and integrate ESG factors thanks to quick access to all key company information
- Information is provided on a clear, structured dashboard
- Overview of the entire customer portfolio: analytics function enables strategic decisions on the customer portfolio
Information service provider CRIF is launching Panorama, a new AI-powered information platform that combines key data on a company's risk identity, compliance and ESG management.
Today, companies have to navigate multiple crises all at once: geopolitical uncertainties, inflation, the lasting effects of a global pandemic, ongoing supply chain disruptions, a rising number of insolvencies, and worsening payment behavior. At the same time, operational and regulatory demands are increasing—digitalization, compliance requirements, and ESG regulations are challenging companies on a daily basis.
"In discussions with our clients and other market participants, we explored whether traditional credit reports still meet today’s evolving conditions or if an upgrade in information delivery is necessary. Our new Panorama solution is designed to respond to the current challenges facing companies," commented CRIF Germany Managing Director, Dr. Frank Schlein, on the launch of the new product.
The solution delivers optimized efficiency through quick access to all key company information in real time, helping companies to manage risks, comply with regulations, and integrate ESG factors and news, with the option to add additional information. All the data and information is presented on a clear, structured dashboard.
Meeting the requirements for risk and compliance decisions
"With Panorama, we are taking risk management, compliance, and ESG assessment to the next level. Decision-makers can use the platform to get a reliable overview of their business partners significantly faster than before, without the time-consuming review of financial statements or ESG reports," added Dr. Schlein. "Using transparent assessment models and an overview of key core information, the platform offers everything you need to make informed decisions quickly, such as when accepting orders, selecting suppliers, or making strategic decisions. This is a unique offering that sets new standards in risk and compliance management."
All data at a glance for informed risk decisions
Here’s an example: A medium-sized mechanical engineering company receives a request for a large order from a new customer. To make a well-informed assessment of the customer’s trustworthiness and risk of default, those responsible for risk management previously had to gather data from multiple sources, including a comprehensive credit report, business register entries, and the latest financial statements.
This was followed by a review and assessment process, often involving considerable time and costs. Panorama streamlines this process considerably. In just a few clicks, key risk assessment information such as revenue, annual results, and number of employees can be can be accessed in a clear overview.
"The information provided by Panorama should be sufficient in most cases to make operational decisions, such as whether to accept an order. The same applies to assessing ESG risks in a company's supply chain," explained Dr. Schlein. "In addition, our news crawler provides an overview and categorization of the latest media reporting on the company, enabling critical developments to be identified very quickly." And if a more in-depth analysis is required in specific cases, this can be easily requested, leveraging CRIF's comprehensive range of information. CRIF's tried-and-tested tools are seamlessly integrated into the new platform for this purpose.
Comprehensive analysis of customer and supplier portfolios
Increasing complexity poses a further challenge for risk and compliance management and the effective monitoring of the entire portfolio of customers and suppliers. This is another area where Panorama can help. With integrated portfolio management and analytics capabilities, companies can map their entire customer base, then filter and analyze it according to various parameters such as region, industry, or company size.
This provides the basis for a holistic risk analysis and strategic decision making. "With Panorama, we offer a holistic tool that meets the needs of the new generation of risk and compliance managers," commented Dr. Frank Schlein, Managing Director of CRIF Germany. "This enables companies to efficiently and sustainably meet the increasingly complex requirements of risk and compliance management."
