Sysco Foods' Recipe for Managing Credit Risk
Have you heard of Sysco Foods?
You’ve almost certainly benefited from their services. $48B Fortune 100 company Sysco is the world's largest food distributor and supplies everything from dishes to ingredients to even hair nets. They serve the needs of almost anywhere food is served, including hospitals, schools, hotels — even casinos.
Robin Walters, Manager, Corporate Credit Risk, guards the health of Sysco's one of most significant assets: the company's accounts receivable. We recently had a chance to talk with her and learn her essential ingredients for credit management success:
"What we report to goes to the SEC and the public," Robin says, speaking of the company's financials. "It must be accurate."
2. Multiple Sources
Robin and her team believe in using multiple information sources, the right solution for the right task. If it's public, I won't bother with anything other than CreditRiskMonitor," she says.
3. Automated Financials
Manually spreading financial statements takes hours of time. Why do that, Robin asks? "Use the tool," she says, referring to CreditRiskMonitor's financials. It's already done and it's already standardized."
4. Trade Data Analysis
Sysco contributes their accounts receivable data to CreditRiskMonitor for monthly analysis. It helps give them a better view into their own data — and see risk at a glance. "I use the hidden payer profile all the time," Robin says, referring to a report that shows who is paying Sysco quickly but others slowly. It's a helpful way to uncover hidden risk.
Finally, the secret sauce: superior customer service. It's a non-negotiable for Robin. "I'm very sensitive to service," she says.
Read the complete interview here for more of Robin’s story, advice and why she considers CreditRiskMonitor essential.
CreditRiskMonitor is a financial news and analysis service designed to help professionals stay ahead of public company risk quickly, accurately and cost-effectively. More than 35% of the Fortune 1000, plus thousands more worldwide, rely on our commercial credit reporting and predictive risk analytics for assessing the financial stability of more than 56,000 global public companies.
At the core of CreditRiskMonitor’s service is its 96%-accurate FRISK® score, which is formulated to predict public company bankruptcy risk. One of four key components calculated in the FRISK® score is crowdsourced subscriber activity. This unique system tracks subscribers' patterns of research activity, capturing and aggregating the real-time concerns of what are essentially the key gatekeepers of corporate credit. Other features of CreditRiskMonitor’s service include timely news alerts, the Altman Z”-Score, agency ratings, financial ratios and trends. CreditRiskMonitor’s network of trade contributors provides more than $140 billion in trade data on their counterparties every month, giving them visibility into their biggest dollar risks.