Fast, accurate, and efficient is the way most people want decisions in today’s hyper-competitive world. You can also add: ‘customized to my company’s specific risk policies’ and ‘flexible to change as circumstances change’—naturally, wanting this right away, no waiting. Does this sound like the type of decision system you would love to have? Not surprisingly, that is what we have heard from clients.
DecisionIQ is a powerful tool for implementing all the above. How does it work? First, you start with Intelliscore Plus, a business credit score. You can setup multiple score ranges with approve, review, and decline decisions, or customize the decision to fit your specific business model (deposit required, etc.) Next, you can establish kick-out rules. A good example would be if a company has been in business less than a year, it always gets reviewed. The key point here is that these rules are flexible, with multiple data elements and settings to select from.
The real power comes in adding rule sets. Say you are approving accounts that are in the top 25% of scores, and you will provide them with a credit line of $10,000. You can then add multiple rules: is the company in health services? If so, now provide a credit line of $25,000. Or, is the company under 10 employees? Then provide a credit line of $5,000. It’s all up to you—and you can change these rules on the fly, creating different rule sets for different divisions or product lines—all with a few clicks.
These decisions are produced automatically, a perfect solution for decentralized operations, such as for multiple branch offices. You also control what each location sees, from just the decision, to the decision with a full business report and score.