Risk assessment late payment

Development of a model to predict late payment.
Prediction model for the identification of late payments
Concrete recommendations for action to avoid
of late payment, based on the selected cost function

Challenge

A pharmaceutical company wants to optimise its working capital by reducing the proportion of outstanding invoices.

 

Solution

An algorithm was developed to predict whether an invoice will be paid on time and a cost function was created to optimise the threshold for recommended actions. In addition, the algorithm was adapted to specific markets.

 

Result

The result is a prototype that can be implemented directly in the sales process and which predicts a concrete recommendation for action at the time of purchase.
The handling is very easy due to an intuitive traffic light colour system.

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