“Accelerating towards Credit Risk Measurement and Management to secure sustainable business continuity and support strategic decision making”.
Hellenic Petroleum Company, the largest Energy & Oil group in Southeastern Europe, was looking for an advanced integrated Credit Risk and Management platform to be able to assess in real-time operational, country, behavioral and credit risk of its corporate clientele in different segments and countries.
In addition, the Client requested a comprehensive reporting tool, IFR9 Compliance and the ability for the solution to be incorporated within group’s IT system infrastructure.
The solution offered to the Client was a tailor-made credit analytics and business process automation platform that effectively addressed and supported Hellenic Petroleum business and technology needs.
100%
9 months
Project details
For this project, WEMETRIX, in close collaboration with the Client’s evolved Teams customized and incorporated into the existing IT infrastructure the turn-key solutions that provided a 360-view to the organization as regards Risk Measurement and Management Reporting.
The specialized WeMetrix solutions that were employed to meet the Client’s demanding needs:
- CREDITARK®: credit risk management and order-to-cash optimization solution
- RISKVENT®: counterparty credit risk assessment (Risk Appraisal, Risk Rating, Scorecards)
- RISK9®: IFRS9 calculations (PD/LGD/ECL/Provision Matrix) & compliance for robust statistical results based both on the Simplified Approach and on the Forward-Impairment Algorithmic Modeling
Due to the solution’s end-to-end secure Credit Risk Measurement and Management approach and its’ efficient data and document management with future-proof solutions for all business processes, Hellenic Petroleum accomplished its strategic targets and operational efficacy with the minimum effort and resource allocation, during the course of the project.
At WΕMETRIX, we recognize and value the diversity of each Client. Our broad solution offering is flexibly deployed and scales to meet infrastructure requirements like SAP ERP, other ERP Systems, on-premise, cloud or hybrid. The solution to Hellenic Petroleum Company was deployed on-premise, and the system users, experienced a smooth transition with countable benefits in their daily operations, in a short period of time since platform’s operationalization.
The solution
Platform’s Features
The platform combines the following characteristics:
- Business Profiling Tool: A comprehensive software used by the organization's credit analyst to assist them develop customer’s profile and analysis, be employing financial analysis, industry data, detrimental data, debt analysis, operations & management’s performance.
- Credit Risk Modelling: A series of models has been employed to analyze behavioral history (payments & invoicing), financial statements, non-quantitative profiling, external provider’s score).
- IFRS9 Compliance Report
- Segmentation analysis and presentation
- Portfolio management – Optimization of Working Capital – Measurement of Value at Risk
- Stress test – what if scenarios
- Report Builder
- Integration to SAP
- Digitalization of physical files – document management
Services Provided
- Project Management
- Data Validation and Modeling
- IT System’s Audit
- System Integrations
- Implementation Strategies
Benefits Achieved
- Measured with high accuracy and controlled risk exposure
- Automated daily processes and minimized manual rework
- Decreased Expenses
- Increased Profitability exponentially
- Safeguarded liquidity
The results
The solution managed and implemented the customized credit risk and technology needs effectively that Hellenic Petroleum had to overcome. The solution’s operations tackled and managed to accomplish risk control and compliance based on the latest audit obligation requirements securing to Hellenic Petroleum credit control and working capital management through credit limit and receivables optimization achieving exponential business growth.
HELLENIC PETROLEUM GROUP is a dynamic Group with solid foundations, holding a leading position in the Greek energy sector as well as in the greater area of Southeast Europe.
The Group’s range of activities includes:
- Supply, Refining and Trading of petroleum products, both in Greece and abroad
- Fuels Marketing, both in Greece and abroad
- Petrochemicals Production and Trading
- Oil & Gas Exploration and Production
- Power Generation & Natural Gas
- Provision of Consulting and Engineering services to hydrocarbon related projects