Our customer base ranges from one of the worlds largest oil companies, B.P. plc to regional supply firms such as NGL Supply Inc. The best example of the power and flexibility of CreditPoint is evidenced by the recent Implementation of CreditPoint at B.P. plc:

Customer: B.P. plc
Industry: Oil & Gas
Products Utilized:  CreditPoint Enterprise

Customer Background
BP is of one of the world's largest energy companies, providing its customers with fuel for transportation, energy for heat and light, retail services and petrochemicals products for everyday items BP has transformed over recent years with mergers with Amoco & Arco - : growing from a local oil company into a global energy group with sales over $200 billion; employing over 100,000 people and operating in over 100 countries worldwide.
With such outstanding growth and organizational change & improvement the company realized it had outgrown its current credit delivery software.

Challenge
Enhance the credit delivery process by implementing a global software solution. A central goal for the implementation was to secure a product with sufficient flexibility to allow multiple business streams to pursue diverse business strategies while providing the ability to obtain global exposure both at an entity and customer level. Further, the system had to incorporate robust financial analysis tools as well as allow for account automation and analyst workflow tools.

After an extensive evaluation, BP chose CreditPoint Software for the company's cutting edge credit decision platform.

Solution
Implement CreditPoint Desktop as a LAN installation to provide an instant credit decision tool and begin the conversion process to CreditPoint Enterprise. BP customers held credit lines from a few thousands to tens of millions. This coupled with the fact that the BP credit analysts were located across the globe indicated that customization was a requirement.

The Result
After implantation of CreditPoint Enterprise, BP now utilizes a single global solution for all credit decisions. This has lead to elimination of multiple credit databases, provided consistent application of credit decisions and allowed for a quick identification of problem accounts to minimize potential losses.
Most importantly with the integration of various ERP and legacy systems the firm is now able to quickly identify global exposure to a single counterparty.

User acceptance of the product has been outstanding. Gary Cree - Manager Fuels Business Unit. CreditPoint is the best investment BP will ever make in terms of potential return. The ability to faster and better determine Risk and Credit Line will help us to keep more accounts in the 'OK' zone with fewer of them Smoking and eventually catching on Fire.

Nancy Minton, Credit Analyst, Integrated Stream Trading BP. "CreditPoint is an invaluable credit tool, we are able to control our overall credit risk and mitigate negative exposures on a timely basis. The financial analysis, scoring tools, and write up capabilities robustness, facilitates in-depth financial reviews. This ability is invaluable on a trading floor of BP's magnitude and has assisted in reducing losses due to bankruptcies. Additionally, CreditPoint's flexibility allows for customizations and future upgrades with minimum corporate expenditures."

A brief list of benefits include:
Central Repository for Credit Information
Improved Management Reporting
Consistency in user training
Reduced cycle times
Reduction of Manual Processes
Global Exposure Monitoring
Portfolio Analysis
Flexible Scoring Models
Simplification of Shared Counterparty handling