E-credit Slashes Application Process

By implementing trade credit software, Graybar Electric Co., St. Louis, has slashed the time to process credit applications from two or three days to as little as two or three minutes. The software, developed by eCredit.comSM, Dedham, Mass., helped Graybar to decrease turnaround time and credit application processing costs, while improving the consistency of credit decisions. Both Graybar and eCredit.comSM were recognized by the Aberdeen Group, a Boston-based IT market research firm, in its “Best Practices in Streamlining the Financial Value Chain” report for tailoring information technology to the existing credit strategy of the company and driving policy changes within Graybar.