Mitigate risks with quality reports
Glenn Clark | Credit Manager | Eastman Chemical Company
Quality credit reports with reliable information are crucial for Eastman Chemical Company (Eastman) to successfully conduct international business. “We usually look first at a company’s maximum credit limit, 1 million euros for example. That immediately gives a good idea of the risk of doing business with this company. But, we look beyond that. The team provides its own interpretation based on the “hard and soft” data available in CreditDevice’s reports. We analyze a company’s income statement, balance sheet and other available data to create our own complete picture,” said Glenn Clark, Credit Manager at Eastman Chemicals.
Up-to-date data
Worldwide, Eastman is a leading manufacturer in the field of chemicals. Eastman develops and manufactures materials that are found in items we use every day. With the goal of improving the quality of life in a material way, Eastman works with customers to deliver innovative products and solutions, while remaining committed to safety and sustainability. As an international company with an open and diverse corporate culture, Eastman employs approximately 14,500 people and serves customers in more than 100 countries. Since 2013, Glenn Clark has been ultimately responsible for Eastman’s credit management for EMEA (Europe, Middle East and Africa). He manages an international team with 8 credit controllers including 3 analysts and personally reports to the Director, Global Credit.
- “Growing in a complex environment requires the right data, information, systems and processes.”
Comprehensive reports
Glenn’s international team, spread throughout the EMEA region, all work with CreditDevice’s CreditInformation and request credit reports daily. In 90 percent of cases, the credit reports are available online, Glenn explains. “For some companies in the Middle East, Africa or in Russia, we request credit reports offline because more research is required here.” “The contact with CreditDevice is very important here. Especially when it comes to reports that deviate from the norm. That contact is always fast and smooth. In no time we have all the information we need and can move on. We are therefore very satisfied with the level of service, which is vital for our ability to make quick decisions about credit risk. CreditDevice provides quality reports that ensure risks are mitigated and help us provide information quickly that enables the growth of the business.”
- “Credit management no longer has a back-office function, but is an essential part of business operations.”
Flexible contract options
As a Credit Manager, Glenn has worked with various parties providing credit reports during his career. Often with long-term, rigid cooperative contracts. Until he was introduced to CreditDevice’s flexible contracts. “You don’t see that much, such flexible contract options. We’re not stuck with a long period of time or x number of credit reports we have to take. We work with a flexible bundle. This flexibility is a big advantage.”
One partner for all credit reports
All of the credit representatives and analysts on Glenn’s team work with CreditDevice’s CreditInformation. “Working with one partner saves significantly on costs,” Glenn explains. “In addition, it’s a lot clearer,” he explains, because all CreditDevice’s credit reports have a uniform layout.
In future also a total solution for Eastman
Right now, Eastman’s European team only uses CreditInformation from CreditDevice. But that may become more. As a progressive international company, Eastman is constantly looking for solutions to improve and innovate internal processes and systems. Also in the area of credit management, Glenn explains. “In doing so, we naturally have to take into account the processes and the international nature of the company. That is, we have processes and procedures that are established worldwide. Within those frameworks, we are always looking for efficiency and solutions. Hopefully CreditDevice will be part of this”.
