Country: Colombia
Sector: Distributor of building materials
Number of Clients: +27.000

1. Executive Summary

Cyrgo, a major company in the construction sector in Colombia, has become a leading user of Axesor 360 since 2018. The most immediate benefit noticed by Cyrgo was being able to access behavioural information from informal customers thanks to the comprehensive A360 cloud platform.

2. The Company

It is one of the most important distributors of building materials in the Colombian market with a track record of more than 50 years. It has 17 outlets throughout the country, offering products of the highest quality, making available to builders, hardware stores and homes comprehensive solutions for their projects. Its service levels are a national benchmark thanks to its engineering department where clients can obtain technical advice and cutting service for metal structures.

3. Challenges

  • Challenge 1: Portfolio management.
  • Challenge 2: Behavioural Base.
  • Challenge 3: Sales with controlled risk.
  • Challenge 4: Process efficiency.

4. Solution

  • Solution 1: With Axesor360 they have managed to automatically reach their entire customer portfolio for collection tracking and management.
  • Solution 2: Axesor's connection to external databases and behaviour information in payments from other companies along with Cyrgo's internal information has made it possible to know how customers pay other companies in the industry and make better credit decisions.
  • Solution 3: With Axesor's own risk indicators such as RIIM, ICP and Credit Limit, the business department has been able to get to better know its customers and allocate them into groups identifying the clients of interest, working towards the sales increase, but with controlled risk.
  • Solution 4: The information and admission modules have reduced the operational burden of the portfolio area and analysts begin to be more effective in allocating quotas, thus massively increasing the efficiency of the process. For management and administration, uncertainty is reduced by enabling the risk control for each client and each group of clients.

5. Benefits

The incorporation into the management of the Axesor 360 cloud platform has enabled Cyrgo to significantly improve some of the main KPIs of debtor portfolio performance, in particular:

  • Behavioural information on payments with other providers on 46% of customers that benefit from credit.
  • Reduction in analysis processing times for own risk applications from 3 to 2 days.
  • Maintaining a Good ICP, increasing customers by 3%.
  • Maintaining an Average RIIM, increasing sales by 4%.
  • Allocation of customers for own risk decision making.
  • 75% reduction in high-risk applications.

"At Cyrgo we believe that simple and effective solutions bring the highest results and Axesor helps us achieve this".
Juan Sebastián González Treasury Manager