Credit ratings

Infor Public Sector uses a point-based system to measure credit ratings, assigning points to customers’ contact identity records for adverse events such as late payments or bounced checks. A higher number of points indicates a more negative credit rating.

Credit rating points are assigned based on various system settings. For example, in Delinquency Setup you can specify a number of credit points to be assigned when an account reaches a particular delinquency milestone.

You can also use Credit Rating Setup to specify the number of credit points assigned for payments received past their due date. Specify the number of points for late payments in the Late Payments field.

Based on points accumulated, you can define a series of credit rating levels. For example, contacts with 0 to 49 points might be assigned a “Gold” credit rating, contacts with 50 to 99 points might be assigned “Silver,” and so on.

These ratings can be used in formulas, such as delinquency scheme entry formulas. For example, customers with poor credit ratings can be assigned to more aggressive delinquency schemes.

Use the Financial Information tab on the Contact InfoViewer to review contacts’ credit histories, and to manually adjust their credit points.

Note: Credit ratings must be defined in Credit Rating Setup for contacts' credit ratings and histories to be displayed in the InfoViewer.

You can also use Credit Rating Setup to specify an expiration date for credit points. Specify the number of days credit points will be counted against a customer's credit rating in the Look Back Period field. For example, if you specify 730, accumulated points will be included in the credit score calculation for a period of two years. If you do not specify a value in this field, a contact's full credit history will always be considered when calculating the credit score.